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Allete Re-initiates FY20 Adj. EPS Outlook In Line With Estimates - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Wednesday, energy company Allete Inc. (ALE) re-initiated its adjusted earnings guidance for the full-year 2020, based on constructive indications of improving production from Minnesota Power's industrial customers.

For fiscal 2020, the company now projects adjusted earnings in the range of $3.25 to $3.45 per share, excluding the 16 cent per share charge related to the Minnesota Power rate case resolution, net of tax.

On average, 6 analysts polled by Thomson Reuters expect the company to earn $3.36 per share for the year. Analysts' estimates typically exclude special items.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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