Benzinga | Aug 5, 2020 08:09AM EDT

ALLETE: Q2 Earnings Insights



Shares of ALLETE (NYSE:ALE) decreased 0.1% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 40.91% over the past year to $0.39, which missed the estimate of $0.67.

Revenue of $243,200,000 declined by 16.25% year over year, which missed the estimate of $290,750,000.

Looking Ahead

The upcoming fiscal year's EPS expected to be between $3.25 and $3.45.

Conference Call Details

Date: Aug 05, 2020

Time: 10:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/xqwbr5kh

Price Action

Company's 52-week high was at $88.60

52-week low: $48.22

Price action over last quarter: Up 13.13%

Company Profile

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.