ALLETE, Inc. (ALE) Misses Q2 EPS by 1c

ALLETE, Inc. (NYSE: ALE) reported Q2 EPS of $0.50, $0.01 worse than the analyst estimate of $0.51. Revenue for the quarter came in at $314.8 million versus the consensus estimate of $326.7 million.

“We are encouraged by developments in the quarter that point to improved future production levels for Minnesota Power’s taconite customers," said ALLETE Chairman, President and CEO Al Hodnik. “As expected, second quarter results were impacted by lower sales to taconite customers, and we continued to proactively manage the impact by utilizing the wholesale power markets and tightening operating and maintenance expenses."

For earnings history and earnings-related data on ALLETE, Inc. (ALE) click here.

You May Also Be Interested In

• Klarna shares tumble on weak full-year revenue guidance
• GLJ Research on Sell Rated Tesla (TSLA): 'We now see FSD as the main reason TSLA’s stock will bleed lower this year'
• Palogic urges Granite Point Mortgage to cut costs, halt new loans