NEW YORK, Oct 24 (Reuters) - U.S. utility company Allete Inc. on Friday reported slightly higher third-quarter earnings, helped by strong results at its automotive services business which it now plans to spin off.
Allete, based in Duluth, Minnesota, reported net income of $47.6 million, or 57 cents per share, compared with $45.1 million, or 55 cents per share, a year ago.
A poll of four Wall Street analysts had expected the company to report earnings between 50 cents and 53 cents per share with an average view of 51 cents per share, according to Reuters Research, a unit of Reuters Plc. .