ALLETE (NYSE:ALE) reported its Q1 earnings results on Thursday, May 5, 2022 at 07:00 AM.
Here's what investors need to know about the announcement.
Earnings
ALLETE missed estimated earnings by 3.05%, reporting an EPS of $1.27 versus an estimate of $1.31.
Revenue was up $44.30 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.12 which was followed by a 1.68% increase in the share price the next day.
Here's a look at ALLETE's past performance:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 1.06 | 0.71 | 0.56 | 1.09 |
| EPS Actual | 1.18 | 0.53 | 0.53 | 1.09 |
| Revenue Estimate | 327.65M | 300.20M | 293.93M | 324.30M |
| Revenue Actual | 399.00M | 345.40M | 335.60M | 339.20M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
ALLETE management provided guidance for FY 2022, expecting earnings between $3.6 and $3.9 per share.
To track all earnings releases for ALLETE visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
