Allete Inc. Reports Q3 Net Income of $27.1 Million

Reuters10-31

Allete Inc. Reports Q3 Net Income of $27.1 Million

Allete Inc. reported third quarter 2025 net income of $27.1 million, or $0.46 per diluted share, compared to $45.0 million, or $0.78 per diluted share, in the third quarter of 2024. For the nine months ended September 30, 2025, net income was $115.1 million, or $1.98 per diluted share, compared to $128.7 million, or $2.23 per diluted share, for the same period in 2024. The company stated that third quarter and year-to-date results primarily reflect lower sales to industrial customers and inflationary pressures at Minnesota Power, lower sales of renewable projects at its clean energy businesses, and transaction-related expenses. Allete is awaiting a written order from the Minnesota Public Utilities Commission to proceed with the closing of its partnership with Canada Pension Plan Investment Board and Global Infrastructure Partners. Dividends per share in the third quarter of 2025 were $0.73, compared to $0.705 in the same period last year.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Allete Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251031879435) on October 31, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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