Investing.com - Allete reported on Wednesday third quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Allete announced earnings per share of $0.59 on revenue of $388.3M (NYSE:MMM). Analysts polled by Investing.com anticipated EPS of $0.75 on revenue of $347.17M.
Allete shares are down 16.73% from the beginning of the year and are trading at $54.58 , down-from-52-week-high.
Allete follows other major Utilities sector earnings this month
Allete's report follows an earnings beat by NextEra Energy on Friday, October 28, 2022, who reported EPS of $0.85 on revenue of $6.72B, compared to forecasts EPS of $0.79 on revenue of $5.96B.
Duke Energy had missed expectations on Friday with third quarter EPS of $1.78 on revenue of $7.97B, compared to forecast for EPS of $1.84 on revenue of $7,388M.
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