ALLETE Earnings: Here’s Why Investors Like These Results
ALLETE, Inc. (NYSE:ALE) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.73%.
ALLETE, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.75 in the quarter versus EPS of $0.53 in the year-earlier quarter.
Revenue: Rose 7.02% to $256 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ALLETE, Inc. reported adjusted EPS income of $0.75 per share. By that measure, the company met the mean analyst estimate. It beat the average revenue estimate of $249.25 million.
Quoting Management: “I’m pleased with our 2012 financial and operational performance as we executed our multi-faceted growth strategies,” said ALLETE President, Chairman and CEO Al Hodnik. “Our year-end results were in the upper end of our $2.50 to $2.60 guidance range.”
Key Stats (on next page)…