ALLETE, Inc. ALE reported first-quarter 2016 earnings of 93 cents per share, beating the Zacks Consensus Estimate of 91 cents by 2.2%. On a year-over-year basis, earnings increased 9.4%.The improvement in earnings was driven by higher cost recovery rider revenue and lower operating and maintenance expenses. This was partially offset by a decrease in kWh sales due to lower industrial sales and impacts of warmer temperatures compared with the year-ago period.Allete Inc. (ALE) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompanyThe better-than-expected performance positively impacted ALLETE’s share prices, with the company gaining 0.12% yesterday to close at $57.08 per share.Total RevenuesIn the first quarter of 2016, ALLETE posted total revenues of $334 million, increasing 4.4% year over year.Highlights of the releaseALLETE’s total electricity sales volume decreased 4.6% year over year to 3,640 kilowatt-hours.The company’s total operating expenses were $267 million, up 1.3% year over year due to higher cost of sales.Operating income in the reported quarter was up 18.5% year over year to $66.8 million.In the quarter under review, interest expenses increased 11.9% year over year to $16.9 million.Financial UpdateALLETE’s cash and cash equivalents as of Mar 31, 2016, were $97 million, on par with the Dec 31, 2015 level.Long-term debt as of Mar 31, 2016, was $1,551.3 million, marginally lower than $1,568.7 million at 2015 end.Other Utility ReleasesAmerican Electric Power Co., Inc. AEP reported first-quarter 2016 operating earnings of $1.02 per share, missing the Zacks Consensus Estimate of $1.06 by 3.8%.DTE Energy Company DTE reported first-quarter 2016 operating earnings per share of $1.52, in line with the Zacks Consensus Estimate.NiSource Inc. NI reported first-quarter 2016 operating earnings of 60 cents per share, surpassing the Zacks Consensus Estimate of 58 cents by 3.4%.Zacks RankALLETE currently holds a Zacks Rank #4 (Sell).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMER ELEC PWR (AEP): Free Stock Analysis Report NISOURCE INC (NI): Free Stock Analysis Report DTE ENERGY CO (DTE): Free Stock Analysis Report ALLETE INC (ALE): Free Stock Analysis Report To read this article on Zacks.com click here.