ALLETE, Inc. (NYSE:ALE) Q4 2017 Earnings Conference Call Transcript

Feb 15, 2018 • 10:00 am ET

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ALLETE, Inc. (NYSE:ALE) Q4 2017 Earnings Conference Call Transcript

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Presentation
Executive
Alan R. Hodnik

for a total consideration of $19.2 million. Tonka is a supplier of municipal and industrial water treatment systems that will expand U.S. Water Services' geographic reach and customer markets. We believe water scarcity and a growing emphasis on conservation will continue to drive significant growth in the industrial, commercial and governmental sectors. Given the strong economy, tax reform and a proposed $1.5 trillion infrastructure thesis from the Trump administration, we believe U.S. Water Services is well-positioned for growth.

This is truly an exciting time for ALLETE and we look forward to delivering another year of value to our shareholders through earnings growth and dividends. Minnesota Power's industrial customers are running strong and prospects for new customer loads are promising. Demands for cleaner energy forms and water conservation provide momentum and investment opportunities for ALLETE Clean Energy and U.S. Water. We believe ALLETE's diversified growth platform and our proven ability to execute offers an attractive and differentiated value proposition to investors.

Thank you for your interest and for your investment in ALLETE. At this time, I will ask the operator to open up the lines for your questions.