ALLETE Q3 EPS $0.78 Misses $0.93 Estimate, Sales $407.20M Beat $391.00M Estimate
Portfolio Pulse from Benzinga Newsdesk
ALLETE reported Q3 earnings per share of $0.78, missing the $0.93 estimate, but sales of $407.20M beat the $391.00M estimate. EPS decreased by 47.65% from last year, while sales increased by 7.50%.
October 30, 2024 | 10:11 am
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NEGATIVE IMPACT
ALLETE's Q3 earnings per share missed expectations significantly, while sales exceeded estimates. The EPS decline of 47.65% from last year is concerning, but the sales growth of 7.50% is a positive sign.
The significant miss on EPS compared to estimates and the large year-over-year decline in EPS are likely to negatively impact the stock price in the short term. However, the beat on sales and year-over-year sales growth provide some positive context.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100