ALLETE Q2 Profit Decreases - Quick Facts

(RTTNews) - ALLETE Inc. (ALE) reported that its second-quarter net income decreased to $14.0 million or $0.35 per share, from $14.4 million or $0.39 per share, last year. The company said its second quarter 2013 results were impacted by several factors attributable to Minnesota Power's recent capital investments.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.40 for the quarter. Analysts' estimates typically exclude special items.

Operating revenue rose to $235.6 million, from $216.4 million, a year ago. Analysts expected revenue of $233.95 million for the quarter.

The company affirmed its full year earnings guidance of between $2.58 and $2.78 per share. Analysts expect the company to report profit per share of $2.75.