ALLETE, Inc. (ALE) Tops Q4 EPS by 5c
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ALLETE, Inc. Reports 2018 Earnings of $3.38 Per Share; Initiates 2019 Earnings Guidance; 2019 to Be a Significant Year of Renewable Energy Projects
February 14, 2019 6:30 AM ESTDULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYSE: ALE) today reported 2018 earnings of $3.38 per share on net income of $174.1million and operating revenue of $1.5 billion. Reported results from 2017 were $3.38 per share on net income of $172.2million and operating revenue of $1.4 billion.
Net income in 2017 included a $13.0 million after-tax, or $0.25 per share, benefit for the re-measurement of ALLETEs deferred income tax assets and liabilities resulting from the Tax Cuts and Jobs Act (TCJA) that was enacted on December22,2017. Results for 2017 also reflected a benefit of $7.9million after-tax, or $0.16 per share, for the Minnesota Public... More
