ADVERTISEMENT

Allete: Q4 Earnings Snapshot

February 16, 2022 GMT

DULUTH, Minn. (AP) _ Allete Inc. (ALE) on Wednesday reported fourth-quarter profit of $61.9 million.

The Duluth, Minnesota-based company said it had profit of $1.18 per share.

The power company owner posted revenue of $399 million in the period.

For the year, the company reported profit of $169.2 million, or $3.23 per share. Revenue was reported as $1.42 billion.

Allete expects full-year earnings to be $3.60 to $3.90 per share.

Allete shares have fallen 11% since the beginning of the year. The stock has fallen 12% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALE at https://www.zacks.com/ap/ALE