OverviewSuggest Edit

ALLETE is a provider of competitively-priced energy in the upper Midwest, and has a strategic investment in the American Transmission Company. ALLETE's Minnesota Power electric utility serves 144,000 residents, 16 municipalities and some of the nation's largest industrial customers. Other businesses include BNI Coal in North Dakota, ALLETE Clean Energy, a developer of energy projects with limited environmental impact, and ALLETE Properties, which owns 10,000 acres of real estate in northeast Florida.
TypePublic
Founded1906
HQDuluth, MN, US
Websiteallete.com
Employee Ratings4.5

Latest Updates

Employees (est.) (Dec 2019)1,316
Job Openings10
Revenue (FY, 2020)$1.2 B(-5%)
Share Price (Apr 2021)$68.7
Cybersecurity ratingBMore

Key People/Management at Allete

Alan R. Hodnik

Alan R. Hodnik

Director
Kathryn W. Dindo

Kathryn W. Dindo

Director
George G. Goldfarb

George G. Goldfarb

Director
James J. Hoolihan

James J. Hoolihan

Director
Madeleine W. Ludlow

Madeleine W. Ludlow

Director
Susan K. Nestegard

Susan K. Nestegard

Director
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Allete Office Locations

Allete has offices in Duluth, Bismarck and Salem
Duluth, MN, US (HQ)
30 W Superior St
Bismarck, ND, US
1637 Burnt Boat Dr
Salem, OR, US
Salem, OR, USA
Show all (3)

Allete Financials and Metrics

Allete Revenue

Allete's revenue was reported to be $1.17 b in FY, 2020
USD

Revenue (FY, 2020)

1.2b

Gross profit (FY, 2020)

1.1b

Gross profit margin (FY, 2020), %

94.3%

Net income (FY, 2020)

161.6m

EBIT (FY, 2020)

150.9m

Market capitalization (7-Apr-2021)

3.6b

Closing stock price (7-Apr-2021)

68.7

Cash (30-Jun-2020)

25.7m

EV

4.1b
Allete's current market capitalization is $3.6 b.
Annual
USDFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Revenue

907.0m928.2m961.2m1.0b1.1b1.5b1.3b1.4b1.5b1.2b1.2b

Revenue growth, %

12%31%(10%)

Cost of goods sold

71.2m77.9m302.3m144.7m147.8m218.0m80.6m66.7m

Gross profit

947.2m1.1b1.2b1.2b1.3b1.3b1.2b1.1b
Quarterly
USDQ2, 2010Q3, 2010Q1, 2011Q2, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Revenue

211.2m224.1m219.9m240.0m216.4m248.8m263.8m235.6m251.0m296.5m260.7m288.9m320.0m323.3m462.5m333.8m314.8m349.6m365.6m353.3m362.5m358.2m344.1m357.2m290.4m288.3m311.6m243.2m

Cost of goods sold

31.2m52.3m149.8m33.3m33.4m46.4m35.2m38.4m36.1m32.9m37.0m38.7m30.6m16.5m14.7m16.9m16.3m

Gross profit

288.8m271.0m312.7m300.5m281.4m303.2m330.4m314.9m326.4m325.3m307.1m326.6m273.9m273.6m294.7m226.9m

Gross profit Margin, %

90%84%68%90%89%87%90%89%90%91%89%91%94%95%95%93%
USDQ2, 2010

Financial Leverage

2.5 x
Show all financial metrics

Allete Cybersecurity Score

Cybersecurity ratingPremium dataset

B

80/100

SecurityScorecard logo

Allete Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

50-59

out of 100

CSRHub logo

Allete Online and Social Media Presence

Embed Graph

Allete Blogs

ALLETE to Announce First Quarter Financial Results May 6

DULUTH, Minn. --(BUSINESS WIRE)--Apr. 8, 2021-- ALLETE Inc. (NYSE:ALE) will announce its financial results for the first quarter before the stock markets open on Thursday, May 6, 2021 . Following the release, ALLETE Chief Executive Officer and President Bethany M.

ALLETE Highlights Sustainability in Action in Enhanced Sustainability Report

DULUTH, Minn. --(BUSINESS WIRE)--Apr. 5, 2021-- ALLETE Inc. has released its 2020 corporate sustainability report highlighting the company’s performance related to energy and the environment, social responsibility, and best-practices governance. The enhanced 2020 report includes both a narrative

ALLETE, Inc. Reports 2020 Earnings of $3.35 Per Share; Initiates 2021 Earnings Guidance; Anticipates Further Improvement In 2022

DULUTH, Minn. --(BUSINESS WIRE)--Feb. 17, 2021-- ALLETE, Inc. (NYSE: ALE) today reported 2020 earnings of $3.35 per share on net income of $174.2 million and operating revenue of $1.2 billion . Reported results from 2019 were $3.59 per share on net income of $185.6 million and operating revenue of

ALLETE Clean Energy to Sell Repowered Wind Site to Xcel Energy

Upgraded southwest Minnesota project will increase amount of low-cost carbon-free electricity DULUTH, Minn. --(BUSINESS WIRE)--Feb. 16, 2021-- ALLETE Clean Energy , a wholly owned subsidiary of ALLETE Inc. (NYSE: ALE), will repower and expand the Northern Wind site, consisting of the Chanarambie

ALLETE Clean Energy announces renewable energy sale agreements with two more Fortune 500 companies for Caddo wind site in Oklahoma

DULUTH, Minn. --(BUSINESS WIRE)--Feb. 10, 2021-- ALLETE Clean Energy , a wholly owned subsidiary of ALLETE, Inc. (NYSE: ALE), announced today renewable energy sale agreements with the Oshkosh Corporation and Hormel Foods for a combined 100 megawatts from its Caddo wind site under construction in

ALLETE to Announce 2020 Financial Results on Feb. 17

DULUTH, Minn. --(BUSINESS WIRE)--Jan. 18, 2021-- ALLETE Inc. (NYSE:ALE) will announce its financial results for 2020 before the stock markets open on Wednesday, Feb. 17, 2021 . Following the release, ALLETE President and Chief Executive Officer Bethany M.
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Allete Frequently Asked Questions

  • When was Allete founded?

    Allete was founded in 1906.

  • Who are Allete key executives?

    Allete's key executives are Alan R. Hodnik, Kathryn W. Dindo and George G. Goldfarb.

  • How many employees does Allete have?

    Allete has 1,316 employees.

  • What is Allete revenue?

    Latest Allete annual revenue is $1.2 b.

  • What is Allete revenue per employee?

    Latest Allete revenue per employee is $888.4 k.

  • Who are Allete competitors?

    Competitors of Allete include Indianapolis Power & Light Company, Global Power Synergy and Korea Western Power.

  • Where is Allete headquarters?

    Allete headquarters is located at 30 W Superior St, Duluth.

  • Where are Allete offices?

    Allete has offices in Duluth, Bismarck and Salem.

  • How many offices does Allete have?

    Allete has 3 offices.