Allete Inc. Reports Q3 Net Income of $27.1 Million
Allete Inc. reported Q3 2025 net income of $27.1 million ($0.46 per diluted share), down from $45.0 million ($0.78 per diluted share) in Q3 2024. Year-to-date net income was $115.1 million ($1.98 per diluted share), compared to $128.7 million ($2.23 per diluted share) in 2024. The decline is attributed to lower sales to industrial customers, inflationary pressures, and transaction-related expenses. Dividends per share increased to $0.73 from $0.705 year-over-year. Allete is awaiting approval from the Minnesota Public Utilities Commission for a partnership closing.
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. © Copyright 2025 - Public Technologies (PUBT)
