ALE Earnings Prediction
The chart below shows how ALE performed 10 days before and after its earnings report, based on data from the past quarters. Typically, ALE sees a -1.72% change in stock price 10 days leading up to the earnings, and a +2.15% change 10 days following the report. On the earnings day itself, the stock moves by +1.44%. This data can give you a slight idea of what to expect for the next quarter's release.
ALE Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
402.70M
-5.43%
6.31%
Gross Margin
42.26%
19.18%
1.44%
Operating Margin
10.70%
34.76%
12.63%
Net Margin
7.70%
-11.90%
-58.08%
EPS
0.90
0.00%
-39.60%
No Data Available
ALE Earnings Analysis
Allete, Inc. Corporation (ALE.N) Earnings Conference Call
Positive
- ALLETE reported full year 2023 earnings of $4.30 per share on net income of $247.1 million, compared to 2022 earnings of $3.38 per share on net income of $189.3 million. This reflects a substantial financial growth and success in achieving earnings targets.
- ALLETE's strategic initiatives are paving the way for greater success and a clean energy future. Projects such as solar RFPs, wind energy expansions, and significant transmission investments are in progress, ensuring reliable and diverse renewable energy resources to meet state's goals.
- ALLETE's Board of Directors recently approved a dividend increase of more than 4%, marking over 74 consecutive years of dividends paid to shareholders. This demonstrates confidence in the company's financial performance and commitment to shareholder value.
- ALLETE's capital investment plan shows a clear path with real projects representing an increase of $1 billion for a total of $4.3 billion in regulated investments over the next five years. This significant investment outlines the company's commitment to growth and sustainability.
- ALLETE's New Energy Equity exceeded original projections for 2023 and has increased its pipeline of prospective renewable energy projects. This reflects a solid execution and strong pipeline, enhancing confidence in the company's resiliency and strength in the renewable energy sector.
Negative
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- ALLETE Clean Energy's earnings were negatively impacted in 2023 by congestion and market volatility at Caddo and Diamond Spring, as well as a third-party substation forced network outage, affecting the economics of these projects.
- ALLETE's corporate and other businesses reported a decrease in net income in 2023 compared to 2022 due to higher consolidated income tax expense and lower earnings from Minnesota Solar projects.
- ALLETE Clean Energy's expected earnings for 2024 reflect a continued negative impact at the Caddo Wind Energy facility, primarily due to a forced substation network outage, indicating ongoing challenges.
- ALLETE's investment in Minnesota Solar projects is expected to result in approximately $0.10 per share lower earnings in 2024 compared to 2023, affecting the overall financial performance of the company.
