ALLETE Q3 Profit Rises - Quick Facts

(RTTNews) - ALLETE, Inc. (ALE) reported third-quarter net income of $41.6 million or $0.97 per share, compared to $25.2 million or $0.63 per share, in the third quarter a year ago.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.72 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $288.9 million, from $251 million in the third quarter a year ago. Analysts expected revenue of $274.35 million for the quarter.

The company now expects year-end 2014 earnings to be in the upper half of its stated guidance range of $2.75 to $2.95. The earnings guidance excludes 3 cents per share of costs recorded in the first quarter related to the ALLETE Clean Energy acquisition, and a second quarter non-recurring 6 cents per share charge associated with an EPA settlement. Analysts expect the company to report 2014 earnings per share of $2.88.