Allete reports positive results in second quarter
Tuesday, August 11, 2015
Allete is reporting a good second quarter, with earnings, net income and revenue up.
Revenue reached $323.2 million, up over 2014’s $260.7 million, according to the Duluth-based energy company’s most recent unaudited income data. Earnings were 46 cents per share on net income of $22.5 million for the quarter ending June 30. That tops 2014’s 40 cents per share on net income of $16.8 million.
Allete’s electric utilities — Minnesota Power and Superior Water, Light & Power — and its investment in the American Transmission Co. also showed a net income growth, reaching $23.6 million, up $6.1 million over the second quarter in 2014.
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