ALLETE Q4 EPS $0.89 Misses $0.97 Estimate, Sales $402.70M Miss $425.30M Estimate
Portfolio Pulse from Benzinga Newsdesk
ALLETE (NYSE:ALE) reported Q4 earnings of $0.89 per share, missing the consensus estimate of $0.97, and sales of $402.70M, below the expected $425.30M. This represents a decrease from the previous year's earnings and sales.
February 20, 2024 | 11:31 am
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NEGATIVE IMPACT
ALLETE reported lower than expected Q4 earnings and sales, missing analyst estimates and showing a decrease from the previous year.
Missing analyst estimates for both earnings per share and sales, coupled with a year-over-year decline in these metrics, typically leads to negative investor sentiment in the short term. This could result in downward pressure on ALLETE's stock price as the market adjusts to the lower than expected performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100