ALLETE, Inc. reports Q2 earnings growth, narrows earnings guidance range

Thursday, August 01, 2019

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ALLETE, Inc. (NYSE: ALE) reported second quarter 2019 earnings of 66 cents per share on net income of $34.2 million. Last year’s results were 61 cents per share on net income of $31.3 million.

“Clean energy investments at both our regulated and energy infrastructure services businesses are expected to drive substantial growth over the next five years, potentially exceeding our stated 5-7 percent average annual growth objective,” said ALLETE Chairman and CEO Al Hodnik.

“We are pleased with our progress year-to-date, as we ramp to record levels of construction activities on several new projects slated to deliver carbon free generation beginning later this year and in 2020,” said ALLETE President Bethany Owen.

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Category: Investors