Allete Inc (ALE) released a profit for its first quarter that increased from the same period last year but missed the Street estimates.
The company's bottom line came in at $56.1 million, or $0.97 per share. This compares with $50.7 million, or $0.88 per share, last year.
Analysts on average had expected the company to earn $1.01 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 1.6% to $332.8 million from $338.3 million last year.
Allete Inc earnings at a glance (GAAP) :
-Earnings: $56.1 Mln. vs. $50.7 Mln. last year.
-EPS: $0.97 vs. $0.88 last year.
-Revenue: $332.8 Mln vs. $338.3 Mln last year.
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