Markets

Allete Q4 Results Miss Estimates

February 20, 2024 — 06:56 am EST

Written by RTTNews.com for RTTNews

(RTTNews) - Energy utility Allete Inc. (ALE) reported Tuesday that net income attributable to ALLETE for the fourth quarter edged down to $51.5 million or $0.89 per share from $51.7 million or $0.90 per share in the prior-year quarter.

On average, five analysts polled by Thomson Reuters expected the company to report earnings of $0.97 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenue for the quarter increased to $402.7 million from $425.8 million in the same quarter last year. Analysts expected revenues of $425.30 million for the quarter.

Looking ahead, the Company has a long-term objective of achieving consolidated earnings per share growth within a range of 5 to 7 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

RTTNews
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
More articles by this source

Tags

Markets
Stocks Mentioned

Latest Articles
Data is currently not available