ALLETE Q2 Profit, Sales Improve, Better Than Estimates

(RTTNews) - Energy company ALLETE, Inc. (ALE) on Wednesday reported net profit of $37.6 million or $0.67 per share in the second quarter, higher than $27.9 million or $0.53 per share in the same quarter a year ago. Both revenue and earnings surpassed the Street estimates.

Revenue for the quarter increased to $373.1 million from $335.6 million last year.

On average, analysts polled by Thomson-Reuters expected the company to report earnings of $0.63 per share on revenue of $342.82 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward, the company reaffirmed its full-year earnings outlook at $3.60 per share- $3.90 per share. The consensus estimate is for $3.74 per share.