See more : Compagnie Financière Tradition SA (CFNCF) 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 |
Minnesota Power Reaches Electric Rate Settlement With State Agencies and Large Power Customers
DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has reached a settlement agreement on its 2024 electric rate proposal with the Minnesota Department of Commerce, Minnesota Attorney General's Office and Large Power Intervenors. If approved by...
NT Solar Celebrates New Impact Investment Fund & Series of Successful Transactions
WASHINGTON , April 25, 2024 /PRNewswire/ -- NT Solar, a national tax credit syndicator with a mission to provide affordable clean energy access through investments in renewables and battery projects with strong ESG attributes, is thrilled to announce a series...
ALLETE Board of Directors declares dividend on common stock
DULUTH, Minn.--(BUSINESS WIRE)--The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 70.50 cents per share of common stock. On an annual basis the dividend is equivalent to $2.82 per share, unchanged from the previous quarter. The...
New Strong Sell Stocks for April 17th
ASO, ALE and AMR have been added to the Zacks Rank #5 (Strong Sell) List on April 17, 2023.
ALLETE Recognized for Gender Diversity on Board and Among Executive Officers
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) has been named an Honor Roll company of Special Distinction in an annual report on gender diversity in the executive ranks and on the boards of directors of the largest publicly traded companies in Minnesota....
ALLETE to Announce First Quarter Financial Results May 9
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for the first quarter before the stock markets open on Thursday, May 9, 2024. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice...
New Energy Equity announces Tim Ahrens as Senior Vice President of Development
ANNAPOLIS, Md. , Feb. 27, 2024 /PRNewswire/ -- New Energy Equity, national developer and financier of community and commercial solar projects, has named Tim Ahrens as its Senior Vice President of Development.
ALLETE, Inc. (ALE) Q4 2023 Earnings Call Transcript
ALLETE, Inc. (ALE) Q4 2023 Earnings Call Transcript
Allete (ALE) Misses Q4 Earnings and Revenue Estimates
Allete (ALE) came out with quarterly earnings of $0.89 per share, missing the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $0.90 per share a year ago.
ALLETE, Inc. reports 2023 earnings of $4.30 per share; clean energy transition drives $4.3 billion capital investment plan over the next five years
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE: ALE) today reported 2023 earnings of $4.30 per share on net income of $247.1 million and operating revenue of $1.9 billion. Reported results from 2022 were $3.38 per share on net income of $189.3 million...
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