Allete Q2 Net Profit, Revenues Decline

(RTTNews) - Energy utility Allete, Inc. (ALE) reported Thursday that net income attributable to ALLETE for the second quarter declined to $33.0 million or $0.57 per share from $51.5 million or $0.90 per share in the prior-year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenue for the quarter decreased to $354.5 million from $533.4 million in the same quarter last year. Analysts expected revenues of $547.0 million for the quarter.

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