Benzinga | May 6, 2021 07:16AM EDT

Recap: ALLETE Q1 Earnings



Shares of ALLETE (NYSE:ALE) moved higher by 0.1% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share decreased 14.84% year over year to $1.09, which were in line with the estimate of $1.09.

Revenue of $339,200,000 up by 8.86% year over year, which beat the estimate of $324,300,000.

Looking Ahead

The upcoming fiscal year's EPS expected to be between $3.00 and $3.30.

How To Listen To The Conference Call

Date: May 06, 2021

Time: 10:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/2afrerhh

Price Action

Company's 52-week high was at $72.60

Company's 52-week low was at $48.22

Price action over last quarter: Up 9.35%

Company Description

ALLETE Inc is a regulated electric utility company operating primarily in America's Upper Midwest region. Through its subsidiaries, ALLETE provides regulated electric, natural gas, and water services. The company's Regulated Operations division, which houses its energy generation, transmission, and distribution activities, is responsible for most of ALLETE's total revenue by way of electricity sales and transmission service fees. The majority of the energy sold and distributed by ALLETE is produced by its own portfolio of coal-fired, wind, natural gas-fired, biomass, and hydroelectric power plants. Coal fuel sources, specifically, account for most of this. The company's major customers are industrial entities, such as major iron ore, wood product, and pipeline producers.