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Allete, Inc. (ALE) is an utilities company in the US local power providers industry, based in Duluth, United States, with about 1,597 full-time employees.
It reported revenue of $1.53 billion for fiscal year 2024, down 18.6% from fiscal year 2023, and net income of $179.30 million. In Q3 2025 (the quarter ended September 30, 2025) revenue was $375.00 million, down 7.9% from a year before. Its largest business segment, Regulated Operations, brought in 81% of segment revenue in fiscal year 2024. Its market capitalization was $3.94 billion.
Figures from company filings and market data; latest fiscal year ended December 31, 2024.
ALLETE, Inc. operates as an energy company. The company operates in two segments, Regulated Operations and ALLETE Clean Energy. It generates electricity from coal-fired, biomass co-fired/natural gas, hydro, wind, and solar.
Allete reported $1.53 billion in revenue for fiscal year 2024, down 18.6% from $1.88 billion in fiscal year 2023. In Q3 2025 revenue was $375.00 million.
Regulated Operations, with $1.24 billion or 81% of segment revenue in fiscal year 2024. Next: Corporate and Other (13%) and Allete Clean Energy (6%).
$3.94 billion.
Listed companies of a similar size in the same industry (US local power providers) include Idacorp, Inc. (IDA), Portland General Electric Company (POR), NorthWestern Energy Group, Inc. (NWE), Avista Corporation (AVA).