Overview

* ALLETE Q3 2025 earnings per share fell to 46 cents from 78 cents last year

* Company awaits MPUC order to complete partnership with CPP Investments and GIP

* ALLETE Clean Energy Q3 net loss due to transmission network outages in SPP market

Outlook

* ALLETE ( ALE ) expects lower sales to industrial customers to continue through 2025

* Company anticipates $200 mln in benefits for Minnesota Power customers

* Rate case stay-out provision to impact 2026 financials

Result Drivers

* INDUSTRIAL SALES DECLINE - Lower sales to industrial customers at Minnesota Power impacted net income negatively

* TRANSMISSION OUTAGES - ALLETE Clean Energy's net loss due to transmission network outages in the SPP market affecting production and tax credits

* PROJECT CLOSING TIMING - New Energy Equity's lower net income due to timing of renewable project closings, partially offset by higher tax equity earnings

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $375 mln

Operatin

g

revenue

Q3 Net $13.30

Income mln

Q3 Basic $0.47

EPS

Q3 $29.60

Operatin mln

g Income

Q3 $14.90

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the electric utilities peer group is "buy"

* Wall Street's median 12-month price target for ALLETE Inc ( ALE ) is $67.86, about 0.7% above its October 30 closing price of $67.39

* The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)