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ALLETE (ALE) Earnings and Revenues Beat Estimates in Q4
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ALLETE, Inc. (ALE - Free Report) delivered fourth-quarter 2018 adjusted earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.15 by 2.61%. Moreover, on a year-over-year basis, earnings were up by 45.7%.
In 2018, the company delivered adjusted earnings of $3.38 per share, in line with the year-ago figure.
Total Revenues
In the reported quarter, total revenues amounted to $448.3 million, which beat the Zacks Consensus Estimate of $413 million by 8.5%. Also, revenues rallied 32.6% from $337.9 million in the prior-year quarter.
In 2018, the company posted revenues of $1,498.6 million, up from $1,419.3 million in 2017.
ALLETE’s total electricity sales volume slipped nearly 2.8% year over year to 3,670 million kilowatt-hours.
The company’s total operating expenses in the fourth quarter totaled $384.3 million, up 25.7% year over year.
Operating income in the quarter under review increased 98% to $64 million. Interest expenses fell 5.8% to $16.3 million.
Financial Update
ALLETE’s cash and cash equivalents as of Dec 31, 2018 were $69.1 million, down from $98.9 million as of Dec 31, 2017.
Long-term debt as of Dec 31, 2018 was $1,428.5 million, down from $1,439.2 million as of Dec 31, 2017.
Guidance
The company’ management guided 2019 EPS range of $3.50 to $3.80, whose mid-point of $3.65 is higher than the current Zacks Consensus Estimate for the period of $3.55.
NextEra Energy, Inc (NEE - Free Report) delivered fourth-quarter 2018 adjusted earnings of $1.49 per share, which lagged the Zacks Consensus Estimate of $1.51 by 1.3%.
American Electric Power Co., Inc (AEP - Free Report) generated fourth-quarter 2018 operating EPS of 72 cents, in line with the Zacks Consensus Estimate.
Xcel Energy Inc (XEL - Free Report) posted fourth-quarter 2018 operating earnings of 42 cents per share, in line with the Zacks Consensus Estimate.
Zacks' Top 10 Stocks for 2019
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This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
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ALLETE (ALE) Earnings and Revenues Beat Estimates in Q4
ALLETE, Inc. (ALE - Free Report) delivered fourth-quarter 2018 adjusted earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.15 by 2.61%. Moreover, on a year-over-year basis, earnings were up by 45.7%.
In 2018, the company delivered adjusted earnings of $3.38 per share, in line with the year-ago figure.
Total Revenues
In the reported quarter, total revenues amounted to $448.3 million, which beat the Zacks Consensus Estimate of $413 million by 8.5%. Also, revenues rallied 32.6% from $337.9 million in the prior-year quarter.
In 2018, the company posted revenues of $1,498.6 million, up from $1,419.3 million in 2017.
Allete, Inc. Price, Consensus and EPS Surprise
Allete, Inc. Price, Consensus and EPS Surprise | Allete, Inc. Quote
Highlights of the Release
ALLETE’s total electricity sales volume slipped nearly 2.8% year over year to 3,670 million kilowatt-hours.
The company’s total operating expenses in the fourth quarter totaled $384.3 million, up 25.7% year over year.
Operating income in the quarter under review increased 98% to $64 million. Interest expenses fell 5.8% to $16.3 million.
Financial Update
ALLETE’s cash and cash equivalents as of Dec 31, 2018 were $69.1 million, down from $98.9 million as of Dec 31, 2017.
Long-term debt as of Dec 31, 2018 was $1,428.5 million, down from $1,439.2 million as of Dec 31, 2017.
Guidance
The company’ management guided 2019 EPS range of $3.50 to $3.80, whose mid-point of $3.65 is higher than the current Zacks Consensus Estimate for the period of $3.55.
Zacks Rank
ALLETE currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
NextEra Energy, Inc (NEE - Free Report) delivered fourth-quarter 2018 adjusted earnings of $1.49 per share, which lagged the Zacks Consensus Estimate of $1.51 by 1.3%.
American Electric Power Co., Inc (AEP - Free Report) generated fourth-quarter 2018 operating EPS of 72 cents, in line with the Zacks Consensus Estimate.
Xcel Energy Inc (XEL - Free Report) posted fourth-quarter 2018 operating earnings of 42 cents per share, in line with the Zacks Consensus Estimate.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
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