ALLETE Q2 2024 GAAP EPS $0.57 Misses $0.83 Estimate, Sales $354.500M Miss $547.000M Estimate
Portfolio Pulse from Benzinga Newsdesk
ALLETE (NYSE:ALE) reported Q2 2024 earnings per share of $0.57, missing the analyst estimate of $0.83 by 31.33%. Sales were $354.5M, missing the $547M estimate by 35.19%. Both EPS and sales showed significant declines from the same period last year.
August 01, 2024 | 10:33 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
ALLETE reported Q2 2024 earnings per share of $0.57, missing the analyst estimate of $0.83 by 31.33%. Sales were $354.5M, missing the $547M estimate by 35.19%. Both EPS and sales showed significant declines from the same period last year.
ALLETE's significant misses on both EPS and sales estimates, along with substantial year-over-year declines, are likely to negatively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100