Operator
Good day and welcome to the ALLETE first-quarter 2021 financial results Call. Today s call is being recorded. Certain statements contained in this conference call that are not descriptions of historical facts are forward-looking statements such as terms defined in the Private Securities Litigation Reform Act of 1995. Because such statements can include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to those discussed in filings made by the company with the Securities and Exchange Commission. Many of the factors that will determine the company s future results are beyond the ability of management to control or predict. Listeners should not place undue reliance on forward-looking statements which reflect management s views only as the date hereof
Reaffirms 2021 earnings guidance range of $3.00 - $3.30 per share
ALLETE, Inc. (NYSE: ALE) today reported first quarter 2021 earnings of 99 cents per share on net income of $51.8 million. Last year’s results were $1.28 per share on net income of $66.3 million. The timing of income taxes and operating and maintenance expense in 2021 negatively impacted the quarter compared to internal expectations by approximately 15 cents per share, which are expected to reverse during the remainder of the year. In addition, net income in 2021 included an approximately $5 million dollars, or 10 cents per share, negative impact related to ALLETE Clean Energy’s Diamond Spring wind energy facility due to an extreme winter storm event in the southern United States in February 2021.
Utilities continue to increase spending on the electric transmission system - Today in Energy - U S Energy Information Administration (EIA) eia.gov - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eia.gov Daily Mail and Mail on Sunday newspapers.
Local View: Minnesota girding against a Texas-sized disaster
From the column: Things are changing. By 2035, we (at Minnesota Power) expect to have coal-free operations. By 2050, we want to be carbon-free.
Written By:
Josh Skelton | ×
Last month’s late-winter storm and power outages in Texas reinforced the fundamental challenge of any plan to transform our energy supply. A seemingly endless supply of renewable and low-carbon resources suggests that the transformation should be easy: Just hook up the transmission lines and let the energy flow through the grid.
However, without proper planning to protect reliability, even a robust supply of energy can turn into days without access to life-critical energy.
Operator
Good day, and welcome to the ALLETE fourth-quarter 2020 financial results call. Today s call is being recorded. Certain statements contained in this conference call that are not descriptions of historical facts are forward-looking statements such as terms defined in the Private Securities Litigation Reform Act of 1995. Because such statements can include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include but are not limited to those discussed in filings made by the company with the Securities and Exchange Commission. Many of the factors that will determine the company s future results are beyond the ability of management to control or predict. Listeners should not place undue reliance on forward-looking statements which reflect management s views only as the date hereo