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ALLETE, Inc. (NYSE:ALE) today initiated its 2024 earnings guidance range of $3.60 to $3.90 per share on net income of $210 million to $225 million. This guidance range is comprised of our Regulated Operations segment earnings within a range of $2.65 to $2.85 per share, and ALLETE Clean Energy and Corporate and Other operations earnings within a range of $0.95 to $1.05 per share.
The Company also updated its five-year capital expenditure plan to $4.3 billion, which is a $1 billion increase from its previous five-year plan. The plan includes increased capital investments in renewable and transmission projects, and the Company expects this capital expenditure plan to drive multi-year earnings growth beginning in 2025, in line with its stated financial objectives.
Posted In: ALE
