ALLETE, Inc. (ALE - Free Report) reported first-quarter 2018 adjusted earnings of 99 cents per share, in line with the Zacks Consensus Estimate. On a year-over-year basis, earnings jumped 2.1%.
Total Revenues
In the reported quarter, the company’s total revenues of $358.2 million surpassed the Zacks Consensus Estimate of $355 million by 0.97%. However, revenues declined 2.13% from $366 million recorded in the prior-year quarter.
Allete, Inc. Price, Consensus and EPS Surprise
Highlights of the Release
ALLETE’s total electricity sales volume grew nearly 1.7% year over year to 3,774 million kilowatt-hours.
The company’s total operating expenses totaled $300.8 million, reflecting a rise of 2.3% year over year.
Operating income in the quarter was down 19.8% to $57.4 million. Interest expenses also fell 1.7% to $16.9 million.
Financial Update
ALLETE’s cash and cash equivalents, as on Mar 31, 2018, were $98.5 million, down from $98.9 million as of Dec 31, 2017.
Long-term debt as on Mar 31, 2018, was $1,396.5 million, down from $1,439.2 million as of Dec 31, 2017.
Guidance
The company reaffirmed its full-year 2018 earnings per share guidance in the range of $3.20-$3.50.
Zacks Rank
ALLETE currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Vistra Energy Corp. (VST - Free Report) is scheduled to report first-quarter 2018 results on May 4. The Zacks Consensus Estimate for the quarter is pegged at 6 cents.
Hawaiian Electric Industries, Inc. (HE - Free Report) is scheduled to report first-quarter results 2018 on May 4. The Zacks Consensus Estimate for the quarter is pegged at 41 cents.
Westar Energy, Inc. is scheduled to report first-quarter 2018 results on May 8. The Zacks Consensus Estimate for the quarter is pegged at 52 cents.
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ALLETE, Inc. (ALE - Free Report) reported first-quarter 2018 adjusted earnings of 99 cents per share, in line with the Zacks Consensus Estimate. On a year-over-year basis, earnings jumped 2.1%.
Total Revenues
In the reported quarter, the company’s total revenues of $358.2 million surpassed the Zacks Consensus Estimate of $355 million by 0.97%. However, revenues declined 2.13% from $366 million recorded in the prior-year quarter.
Allete, Inc. Price, Consensus and EPS Surprise
Highlights of the Release
ALLETE’s total electricity sales volume grew nearly 1.7% year over year to 3,774 million kilowatt-hours.
The company’s total operating expenses totaled $300.8 million, reflecting a rise of 2.3% year over year.
Operating income in the quarter was down 19.8% to $57.4 million. Interest expenses also fell 1.7% to $16.9 million.
Financial Update
ALLETE’s cash and cash equivalents, as on Mar 31, 2018, were $98.5 million, down from $98.9 million as of Dec 31, 2017.
Long-term debt as on Mar 31, 2018, was $1,396.5 million, down from $1,439.2 million as of Dec 31, 2017.
Guidance
The company reaffirmed its full-year 2018 earnings per share guidance in the range of $3.20-$3.50.
Zacks Rank
ALLETE currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Vistra Energy Corp. (VST - Free Report) is scheduled to report first-quarter 2018 results on May 4. The Zacks Consensus Estimate for the quarter is pegged at 6 cents.
Hawaiian Electric Industries, Inc. (HE - Free Report) is scheduled to report first-quarter results 2018 on May 4. The Zacks Consensus Estimate for the quarter is pegged at 41 cents.
Westar Energy, Inc. is scheduled to report first-quarter 2018 results on May 8. The Zacks Consensus Estimate for the quarter is pegged at 52 cents.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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