See more : PowerUp Acquisition Corp. (PWUP) Income Statement Analysis – Financial Results
Complete financial analysis of ALLETE, Inc. (ALE) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of ALLETE, Inc., a leading company in the Diversified Utilities industry within the Utilities sector.
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ALLETE, Inc. (ALE)
About ALLETE, Inc.
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.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 | 1985 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.88B | 1.57B | 1.42B | 1.17B | 1.24B | 1.50B | 1.42B | 1.34B | 1.49B | 1.14B | 1.02B | 961.20M | 928.20M | 907.00M | 759.10M | 801.00M | 841.70M | 767.10M | 737.40M | 751.40M | 1.62B | 1.51B | 1.53B | 1.33B | 1.13B | 1.04B | 953.60M | 846.90M | 673.00M | 637.80M | 505.50M | 489.40M | 484.10M | 477.50M | 463.90M | 460.50M | 426.10M | 395.50M | 412.90M |
| Cost of Revenue | 1.39B | 1.12B | 965.70M | 744.30M | 805.40M | 1.04B | 955.80M | 876.90M | 1.02B | 812.30M | 747.70M | 705.80M | 306.60M | 325.10M | 279.50M | 305.60M | 347.60M | 281.70M | 273.10M | 287.90M | 252.50M | 239.10M | 233.10M | 229.00M | 200.20M | 205.70M | 194.10M | 190.90M | 177.00M | 157.70M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 489.90M | 446.80M | 453.50M | 424.80M | 435.10M | 462.70M | 463.50M | 462.80M | 468.40M | 324.50M | 270.70M | 255.40M | 621.60M | 581.90M | 479.60M | 495.40M | 494.10M | 485.40M | 464.30M | 463.50M | 1.37B | 1.27B | 1.29B | 1.10B | 931.60M | 834.00M | 759.50M | 656.00M | 496.00M | 480.10M | 505.50M | 489.40M | 484.10M | 477.50M | 463.90M | 460.50M | 426.10M | 395.50M | 412.90M |
| Gross Profit Ratio | 26.06% | 28.45% | 31.95% | 36.34% | 35.07% | 30.88% | 32.66% | 34.55% | 31.51% | 28.55% | 26.58% | 26.57% | 66.97% | 64.16% | 63.18% | 61.85% | 58.70% | 63.28% | 62.96% | 61.68% | 84.40% | 84.13% | 84.74% | 82.81% | 82.31% | 80.22% | 79.65% | 77.46% | 73.70% | 75.27% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 8.90M | 9.80M | 6.10M | 8.60M | 7.70M | 4.60M | 3.90M | 7.40M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 157.90M | 102.90M | 79.90M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Expenses | 300.10M | 312.60M | 302.20M | 273.90M | 255.30M | 7.80M | 2.40M | 3.90M | 4.70M | 135.70M | 9.30M | 6.00M | 471.60M | 446.10M | 373.60M | 373.60M | 360.40M | 344.70M | 419.20M | 363.70M | 1.06B | 1.01B | 1.01B | 842.60M | 705.90M | 635.40M | 579.90M | 354.20M | 286.20M | 270.60M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 309.00M | 312.60M | 302.20M | 273.90M | 255.30M | 263.50M | 234.40M | 249.60M | 221.40M | 135.70M | 116.60M | 100.20M | 471.60M | 446.10M | 373.60M | 373.60M | 360.40M | 344.70M | 419.20M | 363.70M | 1.06B | 1.01B | 1.01B | 842.60M | 705.90M | 635.40M | 579.90M | 512.10M | 389.10M | 350.50M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cost & Expenses | 1.70B | 1.44B | 1.27B | 1.02B | 1.06B | 1.30B | 1.19B | 1.13B | 1.24B | 948.00M | 864.30M | 806.00M | 778.20M | 771.20M | 653.10M | 679.20M | 708.00M | 626.40M | 692.30M | 651.60M | 1.32B | 1.25B | 1.25B | 1.07B | 906.10M | 841.10M | 774.00M | 703.00M | 566.10M | 508.20M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Income | 10.30M | 75.20M | 2.30M | 1.60M | 4.40M | 500.00K | 1.00M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 80.80M | 75.20M | 69.10M | 65.60M | 64.90M | 67.90M | 67.80M | 70.30M | 64.90M | 54.80M | 50.30M | 45.50M | 43.60M | 39.20M | 33.80M | 26.30M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 251.80M | 242.20M | 231.70M | 217.80M | 202.00M | 205.60M | 177.50M | 195.80M | 170.00M | 136.40M | 116.60M | 100.20M | 90.40M | 80.50M | 64.70M | 55.50M | 48.50M | 48.70M | 47.80M | 49.70M | 86.70M | 82.10M | 101.60M | 86.70M | 111.40M | 60.20M | 56.00M | 53.30M | 55.40M | 48.80M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | 539.40M | 417.50M | 411.70M | 405.50M | 445.80M | 432.10M | 431.40M | 441.70M | 401.70M | 352.70M | 270.70M | 280.80M | 263.20M | 238.80M | 190.00M | 146.40M | 154.10M | 189.40M | 92.90M | 161.60M | 388.30M | 341.90M | 384.10M | 318.80M | 337.10M | 258.80M | 235.60M | 197.20M | 162.30M | 178.40M | 505.50M | 489.40M | 484.10M | 477.50M | 463.90M | 460.50M | 426.10M | 395.50M | 412.90M |
| EBITDA Ratio | 28.69% | 26.92% | 29.51% | 35.37% | 34.62% | 29.03% | 30.73% | 32.58% | 29.47% | 30.33% | 29.49% | 29.21% | 27.88% | 25.82% | 25.03% | 18.28% | 18.31% | 22.75% | 12.45% | 21.51% | 23.99% | 22.69% | 25.14% | 22.45% | 29.78% | 24.89% | 24.71% | 23.28% | 24.12% | 27.97% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Operating Income | 180.90M | 134.20M | 151.30M | 150.90M | 179.80M | 201.20M | 229.80M | 223.50M | 210.70M | 188.80M | 154.10M | 155.20M | 150.00M | 135.80M | 106.00M | 121.80M | 133.70M | 140.70M | 45.10M | 99.80M | 301.60M | 259.80M | 282.50M | 260.30M | 225.70M | 198.60M | 179.60M | 143.90M | 106.90M | 129.60M | 505.50M | 489.40M | 484.10M | 477.50M | 463.90M | 460.50M | 426.10M | 395.50M | 412.90M |
| Operating Income Ratio | 9.62% | 8.54% | 10.66% | 12.91% | 14.49% | 13.43% | 16.19% | 16.68% | 14.18% | 16.61% | 15.13% | 16.15% | 16.16% | 14.97% | 13.96% | 15.21% | 15.88% | 18.34% | 6.12% | 13.28% | 18.63% | 17.24% | 18.49% | 19.54% | 19.94% | 19.10% | 18.83% | 16.99% | 15.88% | 20.32% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Total Other Income/Expenses | 25.90M | -34.10M | -40.40M | -28.80M | -900.00K | -42.60M | -39.00M | -41.40M | -43.90M | -26.60M | -20.70M | -20.10M | -20.80M | -16.70M | -14.50M | 4.60M | 3.50M | -17.10M | -28.00M | -43.90M | -50.80M | -41.20M | -80.70M | -16.80M | -36.30M | -55.70M | -55.40M | -55.10M | -43.70M | -43.70M | -505.50M | -489.40M | -484.10M | -477.50M | -463.90M | -460.50M | -426.10M | -395.50M | -412.90M |
| Income Before Tax | 206.80M | 100.10M | 110.90M | 122.10M | 178.90M | 158.60M | 186.90M | 175.60M | 166.80M | 162.20M | 133.40M | 135.10M | 129.20M | 119.10M | 91.50M | 125.90M | 135.30M | 123.60M | 17.10M | 55.90M | 235.00M | 191.60M | 201.80M | 233.10M | 125.70M | 142.50M | 124.20M | 88.80M | 63.10M | 82.80M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax Ratio | 11.00% | 6.37% | 7.81% | 10.44% | 14.42% | 10.58% | 13.17% | 13.11% | 11.22% | 14.27% | 13.10% | 14.06% | 13.92% | 13.13% | 12.05% | 15.72% | 16.07% | 16.11% | 2.32% | 7.44% | 14.52% | 12.71% | 13.21% | 17.50% | 11.11% | 13.71% | 13.02% | 10.49% | 9.38% | 12.98% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Income Tax Expense | 27.90M | -31.20M | -26.90M | -39.50M | -6.60M | -15.50M | 14.70M | 19.80M | 25.30M | 36.70M | 28.70M | 38.00M | 35.60M | 44.30M | 30.80M | 43.40M | 47.70M | 46.30M | -500.00K | 16.80M | 91.90M | 72.60M | 73.20M | 84.50M | 57.70M | 54.00M | 46.60M | 19.60M | 1.20M | 21.50M | -62.60M | -73.30M | -75.50M | -74.60M | -88.90M | -72.90M | -70.00M | -82.60M | -69.40M |
| Net Income | 247.10M | 131.30M | 169.20M | 174.20M | 185.60M | 174.10M | 172.20M | 155.30M | 141.10M | 124.80M | 104.70M | 97.10M | 93.80M | 75.30M | 61.00M | 82.50M | 87.60M | 68.30M | 13.30M | 104.40M | 236.40M | 137.20M | 138.70M | 148.60M | 68.00M | 88.50M | 77.60M | 69.20M | 64.80M | 61.30M | 62.60M | 73.30M | 75.50M | 74.60M | 88.90M | 72.90M | 70.00M | 82.60M | 69.40M |
| Net Income Ratio | 13.15% | 8.36% | 11.92% | 14.90% | 14.96% | 11.62% | 12.13% | 11.59% | 9.49% | 10.98% | 10.28% | 10.10% | 10.11% | 8.30% | 8.04% | 10.30% | 10.41% | 8.90% | 1.80% | 13.89% | 14.60% | 9.10% | 9.08% | 11.16% | 6.01% | 8.51% | 8.14% | 8.17% | 9.63% | 9.61% | 12.38% | 14.98% | 15.60% | 15.62% | 19.16% | 15.83% | 16.43% | 20.88% | 16.81% |
| EPS | 4.31 | 2.35 | 3.23 | 3.36 | 3.60 | 3.39 | 3.39 | 3.15 | 2.92 | 2.91 | 2.64 | 2.59 | 2.66 | 2.20 | 1.89 | 2.82 | 3.09 | 2.75 | 0.49 | 3.69 | 8.12 | 5.07 | 5.48 | 6.34 | 2.91 | 4.05 | 3.72 | 3.42 | 3.24 | 3.12 | 3.30 | 3.72 | 3.69 | 3.57 | 4.35 | 3.54 | 3.51 | 4.17 | 3.51 |
| EPS Diluted | 4.30 | 2.34 | 3.22 | 3.36 | 3.59 | 3.38 | 3.38 | 3.14 | 0.73 | 2.90 | 2.63 | 2.58 | 2.65 | 2.19 | 1.89 | 2.82 | 3.08 | 2.74 | 0.48 | 3.67 | 1.05 | 5.04 | 5.44 | 6.32 | 2.91 | 4.05 | 3.72 | 3.42 | 3.24 | 3.12 | 3.30 | 3.72 | 3.69 | 3.57 | 4.35 | 3.54 | 3.51 | 4.17 | 3.51 |
| Weighted Avg Shares Out | 57.30M | 55.90M | 52.40M | 51.90M | 51.60M | 51.30M | 50.80M | 49.30M | 48.30M | 42.90M | 39.70M | 37.60M | 35.30M | 34.20M | 32.20M | 29.20M | 28.30M | 27.80M | 27.30M | 28.30M | 27.53M | 27.06M | 25.30M | 23.30M | 22.80M | 21.33M | 20.32M | 19.53M | 19.01M | 18.65M | 17.97M | 18.68M | 19.30M | 19.61M | 19.36M | 19.18M | 19.94M | 18.23M | 17.89M |
| Weighted Avg Shares Out (Dil) | 57.40M | 56.00M | 52.50M | 51.90M | 51.70M | 51.50M | 51.00M | 49.50M | 48.40M | 43.10M | 39.80M | 37.60M | 35.40M | 34.30M | 32.20M | 29.30M | 28.40M | 27.90M | 27.40M | 28.40M | 27.63M | 27.22M | 25.50M | 23.40M | 22.90M | 21.33M | 20.32M | 19.53M | 19.01M | 18.65M | 17.97M | 18.68M | 19.30M | 19.61M | 19.36M | 19.18M | 19.94M | 18.23M | 17.89M |
ALLETE Clean Energy closes on sale of Wisconsin wind project to WPS and MGE
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE: ALE), today announced the company has closed on the sale of the Red Barn project to WEC Energy Group utility Wisconsin Public Service Corp. (WPS) and Madison...
ALLETE Clean Energy closes on sale of Wisconsin wind project to WPS and MGE
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE: ALE), today announced the company has closed on the sale of the Red Barn project to WEC Energy Group utility Wisconsin Public Service Corp. (WPS) and Madison...
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A weekly summary of dividend activity for Dividend Champions, Contenders, and Challengers. Companies which changed their dividends.
Allete: The Qualitative And The Quantitative
Quantitatively SA Quant currently rates Allete as a Sell. Qualitatively the case can be made Allete is a Hold.
ALLETE, Inc. (ALE) Q4 2022 Earnings Call Transcript
ALLETE, Inc. (NYSE:ALE ) Q4 2022 Earnings Conference Call February 16, 2023 10:00 AM ET Company Representatives Bethany Owen - Chair, President & CEO Steve Morris - Senior Vice President, Chief Financial Officer Frank Frederickson - Minnesota Power's Vice President...
Allete (ALE) Q4 Earnings Lag Estimates
Allete (ALE) delivered earnings and revenue surprises of -18.92% and 4.79%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
ALLETE, Inc. Reports 2022 Earnings of $3.38 Per Share; Initiates 2023 Earnings Guidance Range of $3.55 to $3.85 Per Share
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported 2022 earnings of $3.38 per share on net income of $189.3 million and operating revenue of $1.6 billion. Reported results from 2021 were $3.23 per share on net income of $169.2 million...
ALLETE, Inc. Reports 2022 Earnings of $3.38 Per Share; Initiates 2023 Earnings Guidance Range of $3.55 to $3.85 Per Share
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported 2022 earnings of $3.38 per share on net income of $189.3 million and operating revenue of $1.6 billion. Reported results from 2021 were $3.23 per share on net income of $169.2 million...
3 Utility Stocks to Buy for a Hedge Against Inflation
The CPI component with the second highest YoY inflation was Utilities, at a whopping 26.7%
Allete: Dividend Play, Leading The Renewables Transition
Allete and Grid United plan to build a bidirectional 3 GW US East-West Grid connector. The North Plains Connector project represents further investment by Allete on decarbonizing its power services and helping integrate renewables into the US grid.
Source: https://incomestatements.info
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