Allete Q4 Results Miss Estimates

(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.

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