ALLETE, Inc. (ALE) Tops Q3 EPS by 14c, Revenues Beat; Offers FY20 EPS Guidance

ALLETE, Inc. (NYSE: ALE) reported Q3 EPS of $0.78, $0.14 better than the analyst estimate of $0.64. Revenue for the quarter came in at $293.9 million versus the consensus estimate of $292.9 million.

“ALLETE’s strong financial performance for this quarter and significant progress made on two of our large renewable energy projects representing over 500 megawatts of new, carbon free wind generation, demonstrate our resilience and resourcefulness while we work to mitigate the effects of the pandemic on our customers and the economy,” said ALLETE President and CEO Bethany Owen. “ALLETE remains focused on delivering essential energy services to our customers and value to our shareholders, while leading the transition to cleaner energy and reducing carbon as part of our sustainability in action strategy.”

GUIDANCE:

ALLETE, Inc. sees FY2020 EPS of $3.25-$3.45, versus the consensus of $3.33.

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

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