Allete: 2Q Earnings Snapshot

DULUTH, Minn. (AP) — Allete Inc. (ALE) on Wednesday reported second-quarter profit of $2.3 million.

On a per-share basis, the Duluth, Minnesota-based company said it had profit of 39 cents.

The power company owner posted revenue of $243.2 million in the period.

Allete shares have dropped 26% since the beginning of the year. The stock has fallen 30% in the last 12 months.

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Elements of this story were 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

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This story has been corrected to show that earnings per share were 39 cents on revenue of $243.2 million, instead of 3 cents on revenue of $300 million.

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