Allete CEO Discusses Q2 2012 Results - Earnings Call Transcript

Allete (ALE)

Q2 2012 Earnings Call

August 2, 2012 10:00 AM ET

Executives

Al Hodnik - President & CEO

Mark Schober - SVP & CFO

Analysts

Christopher Ellinghaus - Williams Capital

Brian Russo - Ladenburg Thalmann

Christopher Ellinghaus - Williams Capital

James Bellessa - D.A. Davidson and Company

Presentation

Operator

Good day and welcome to the Allete Second Quarter 2012 Financial Results Call. (Operator Instructions). Certain statements contained in this conference call that are not a description of historical facts are forward-looking statements such as terms defined in the Private Securities Litigation Reform Act of 1995. Because such statements can include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements include but are not limited to those discussed in filings made by the Company with the Securities and Exchange Commission.

Many of the factors that will determine the Company's future results are beyond the ability of management to control or predict. Listeners should not place undue reliance on forward-looking statements, which reflects management's view only as of the date hereof. The Company undertakes no obligation to revise or update any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events, or otherwise.

For opening remarks and introductions, I would now turn like to turn the conference over to your host today ALLETE's, Chairman, President, and CEO, Mr. Al Hodnik. Sir, you may begin.

Al Hodnik

Thank you for joining us this morning. With me is ALLETE’s Chief Financial Officer, Mark Schober. Today we are pleased to report second quarter earnings per share of $0.39 which was in-line with our expectations. Mark will go through the financial details of the quarter in a few moments. But before he does let me say that despite having a $0.05 per share impact on our first quarter results due to extremely mild winter weather, our year-to-date earnings are basically where we had originally anticipated when we first gave guidance last December. Yesterday, Minnesota Power received large power demand nominations for the final four months of 2012.

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