DULUTH, Minn. (AP) — DULUTH, Minn. (AP) — Allete Inc. (ALE) on Thursday reported fourth-quarter profit of $51.7 million.
On a per-share basis, the Duluth, Minnesota-based company said it had profit of 90 cents.
The power company owner posted revenue of $425.8 million in the period.
For the year, the company reported profit of $189.3 million, or $3.38 per share. Revenue was reported as $1.57 billion.
Allete shares have dropped 9% since the beginning of the year. The stock has decreased roughly 4% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALE at https://www.zacks.com/ap/ALE
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.