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.

For full article, please visit: Duluth News Tribune

Category: Investors