ALE Stock - ALLETE, Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $1.53B | $1.88B | $1.57B | $1.42B | $1.17B |
| Gross Profit | $497.00M | $489.90M | $446.80M | $453.50M | $424.80M |
| Gross Margin | 32.5% | 26.1% | 28.4% | 32.0% | 36.3% |
| Operating Income | $160.10M | $180.90M | $134.20M | $151.30M | $150.90M |
| Net Income | $179.30M | $247.10M | $189.30M | $169.20M | $174.20M |
| Net Margin | 11.7% | 13.1% | 12.1% | 11.9% | 14.9% |
| EPS | $3.11 | $4.31 | $3.39 | $3.23 | $3.36 |
ALLETE, Inc. operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. The company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 145,000 retail customers and 15 non-affiliated municipal customers. It also owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. In addition, the company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 1,000 megawatts of wind energy generation facility. Further, it is involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. The company owns and operates 158 substations with a total capacity of 10,066 megavolt amperes. It serves taconite mining, paper, pulp and secondary wood products, pipeline, and other industries. The company was formerly known as Minnesota Power, Inc. and changed its name to ALLETE, Inc. in May 2001. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| January 22nd 2024 | Guggenheim | Upgrade | Neutral | $58 |
| January 10th 2024 | Sidoti | Downgrade | Neutral | $64 |
| June 27th 2023 | BofA Securities | Downgrade | Underperform | $54← $63 |
| May 5th 2023 | BofA Securities | Downgrade | Neutral | $63← $66 |
| April 6th 2023 | Sidoti | Upgrade | Buy | $74 |
| January 23rd 2023 | Guggenheim | Downgrade | Sell | $54← $53 |
| November 17th 2022 | JP Morgan | Upgrade | Neutral | $65 |
| November 14th 2022 | BofA Securities | Upgrade | Buy | $66← $53 |
| May 25th 2022 | BofA Securities | Initiation | Neutral | $63 |
Earnings History & Surprises
ALEEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q4 2025 | Oct 31, 2025 | $0.80 | $0.46 | -42.5% | ✗ MISS |
Q3 2025 | Aug 7, 2025 | $0.82 | $0.61 | -26.1% | ✗ MISS |
Q2 2025 | May 8, 2025 | $1.04 | $1.01 | -2.9% | ✗ MISS |
Q1 2025 | Feb 13, 2025 | $1.12 | $0.87 | -22.3% | ✗ MISS |
Q4 2024 | Oct 30, 2024 | $0.93 | $0.78 | -16.1% | ✗ MISS |
Q3 2024 | Aug 1, 2024 | $0.88 | $0.82 | -6.8% | ✗ MISS |
Q2 2024 | May 9, 2024 | $1.02 | $0.88 | -13.7% | ✗ MISS |
Q1 2024 | Feb 20, 2024 | $0.97 | $0.89 | -8.2% | ✗ MISS |
Q4 2023 | Nov 2, 2023 | $0.65 | $1.49 | +129.2% | ✓ BEAT |
Q3 2023 | Aug 8, 2023 | $0.80 | $0.90 | +12.5% | ✓ BEAT |
Q2 2023 | May 3, 2023 | $1.19 | $1.02 | -14.3% | ✗ MISS |
Q1 2023 | Feb 16, 2023 | $1.11 | $0.90 | -18.9% | ✗ MISS |
Q4 2022 | Nov 9, 2022 | $0.74 | $0.59 | -20.3% | ✗ MISS |
Q3 2022 | Aug 3, 2022 | $0.63 | $0.67 | +6.3% | ✓ BEAT |
Q2 2022 | May 5, 2022 | $1.29 | $1.24 | -3.9% | ✗ MISS |
Q1 2022 | Feb 16, 2022 | $1.06 | $1.18 | +11.3% | ✓ BEAT |
Q4 2021 | Nov 4, 2021 | $0.71 | $0.53 | -25.4% | ✗ MISS |
Q3 2021 | Aug 4, 2021 | $0.51 | $0.53 | +3.9% | ✓ BEAT |
Q2 2021 | May 6, 2021 | $1.09 | $0.99 | -9.2% | ✗ MISS |
Q1 2021 | Feb 17, 2021 | $0.75 | $0.90 | +20.0% | ✓ BEAT |
Latest News
Corebridge Financial shares are trading higher after the announcement that company will replace Allete in the S&P MidCap 400
📈 PositiveCorebridge Financial Will Replace Allete In The S&P Midcap 400 Effective Prior To The Open Of Trading On Wednesday, December 17
📈 PositiveALLETE Acquisition By CPP Investments And GIP Approved By Minnesota PUC; Closing Expected December 15 With $200M In Customer And Regional Benefits
📈 PositiveALLETE Q3 Adj. EPS $0.46 Misses $0.96 Estimate, Sales $375.000M Down From $407.200M YoY
📉 NegativeMinnesota Regulators Approve $6.2B Power Deal By Blackrock And Canada Pension Plan; In 5-0 Vote State Commissioners Bless Takeover Of Allete After Modifications On Rates
📈 PositiveFrequently Asked Questions about ALE
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