INNOVATE Corp

INNOVATE Corp. engages in the acquisition and investment of assets. It operates through the following segments: Infrastructure, Clean Energy, Telecommunications, Insurance, Life Sciences, Spectrum, and Other. The Infrastructure segment models, details, fabricates, and erects structural steel for commercial and industrial construction projects. The Clean Energy segment designs, builds, and maintains compressed natural gas fueling stations for transportation vehicles. The Telecommunications segment manages telecommunications business including a network of direct routes and provides voice communication services. The Insurance segment offers long-termcare, life, annuity, and other accident and health coverage. The Life Sciences segment maintains controlling interests in Genovel Orthopedics, Inc. and R2 Technologies, Inc. through Pansend Life Sciences LLC. The Spectrum segment owns over-the-air broadcasting stations and spanish-language broadcast network. The Other segment represents all other businesses or investments that do not meet the definition of a segment individually or in the aggregate. The company was founded in 1994 and is headquartered in New York, NY.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

INNOVATE Corp reports strong Q4 earnings, eyes growth opportunities

INNOVATE Corp's Q4 2022 earnings call highlighted robust financial performance, with revenue growth, adjusted EBITDA improvements, and strategic initiatives driving growth and profitability.
Despite challenges such as equity method income fluctuations, the company's strengths in diversified revenue streams, cash reserves, and market opportunities position it well for future success.
Opportunities lie in expanding market presence, investing in R&D, and optimizing operations to sustain growth momentum and enhance shareholder value in the coming year.
Overall, INNOVATE Corp's performance underscores its resilience, strategic focus, and potential for continued success in navigating market challenges and capitalizing on growth opportunities.

INNOVATE Corp faces revenue decline and project delays in Q1

INNOVATE Corp's Q1 2023 earnings call highlighted a mixed performance with challenges in revenue, net loss, and adjusted EBITDA, but also strengths in progress across business segments. Project delays and competitive pressures were key concerns, while opportunities for growth and margin improvements were identified.

INNOVATE Corp reports strong Q2 results, eyes divestitures for growth

INNOVATE Corp's Q2 earnings call highlighted strong financial performance, strategic focus on profitability, and challenges in certain segments. The company aims to address liquidity concerns through potential divestitures and unlock shareholder value. Overall, there is a mix of positive results, challenges, and opportunities for strategic growth.

INNOVATE Corp reports robust Q3 earnings, eyes growth opportunities

INNOVATE Corp delivered strong financial results in Q3 2023, driven by revenue growth and improved adjusted EBITDA across segments, showcasing operational efficiency and market strength.
While facing challenges such as high indebtedness and market competition, the company's strategic focus on product innovation and partnerships presents opportunities for sustained growth and market leadership.
Overall, INNOVATE Corp's performance highlights resilience and potential for future expansion, positioning the company well for continued success in diverse market segments.

INNOVATE Corp reports robust Q4 earnings, eyes strategic growth opportunities

INNOVATE Corp delivered strong financial performance in Q4 2023, with notable revenue and adjusted EBITDA figures, showcasing consistent growth over the past years.
The company's subsidiaries, such as DBM Global and R2 Technologies, demonstrated strength and growth potential in their respective markets.
While facing challenges in certain segments, INNOVATE is proactively addressing them and focusing on leveraging opportunities to drive future success.
With a focus on optimizing assets, enhancing liquidity, and exploring strategic initiatives, INNOVATE is poised for continued growth and profitability.

INNOVATE Corp (VATE) reports strong Q1 results amidst profitability challenges

INNOVATE Corp's Q1 2024 performance reflects a mix of strengths in revenue growth across segments, challenges in profitability, and opportunities in new market expansions and strategic initiatives. The company's focus on operational efficiency and capital structure optimization underscores a proactive approach to driving long-term value for shareholders.

INNOVATE Corp reports strong Q2 earnings, addresses debt challenges

INNOVATE Corp (VATE) delivered strong operational and financial results in Q2 2024, driven by robust performance in key segments.
Challenges with NYSE listing compliance and high indebtedness require strategic attention for sustainable growth.
Opportunities exist in leveraging segment strengths, debt reduction efforts, and exploring new growth avenues.
Overall, INNOVATE remains focused on innovation, financial health, and future growth prospects.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

INNOVATE Corp. is a diversified holding company, which engages in the acquisition and investment of assets. It operates through the following segments: Infrastructure, Life Sciences, Spectrum, and Other. The Infrastructure segment consists of DBM Global Inc. and its wholly owned subsidiaries. DBMG is a fully integrated industrial construction, structural steel, and facility maintenance provider that provides fabrication and erection of structural steel and heavy steel plate services. The Life Sciences segment refers to Pansend Life Sciences LLC, its subsidiaries, and its equity investments. The Spectrum segment focuses on HC2 Broadcasting Holdings Inc. and its subsidiaries. The Other segment represents all other businesses or investments that do not meet the definition of a segment individually or in aggregate. The company was founded in 1994 and is headquartered in New York, NY.

- Infrastructure: DBM Global achieved third quarter revenue of $369.3 million and once again delivered gross margin expansion versus prior year -

INNOVATE Corp. Announces Third Quarter 2023 Results

NEW YORK, Oct. 30, 2023 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) announced today that it will release its financial results for the third quarter 2023 on Thursday, November 9, 2023 after market close. The Company will host an earnings conference call reviewing these results, its operations and strategy on the same day, beginning at 4:30 p.m. ET.

INNOVATE Corp. to Report Third Quarter 2023 Results on November 9th

Activision Blizzard

Chris DeMuth Jr. discusses his investment approach, focusing on mispriced securities. His thoughts on current market conditions, highlighting investment interests in energy and potential opportunities in Activision.

Why Chris DeMuth Jr. Likes Activision, Oil & Gas + Innovate

INNOVATE Corp. (NYSE:VATE ) Q2 2023 Earnings Conference Call August 9, 2023 4:30 PM ET Company Participants Anthony Rozmus - IR Avie Glazer - Chairman Paul Voigt - Interim CEO Mike Sena - CFO Conference Call Participants Brian Charles - RW Pressprich Operator Good afternoon, and welcome to INNOVATE Corp.'s Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode.

INNOVATE Corp. (VATE) Q2 2023 Earnings Call Transcript

NEW YORK, July 28, 2023 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”), today announced a change to its second quarter 2023 earnings results and conference call date. The Company will now report its second quarter 2023 financial results after market close on Wednesday, August 9, 2023. The Company will host an earnings conference call reviewing these results, its operations and strategy on the same day, beginning at 4:30 p.m. ET.

INNOVATE Corp. Announces Date Change for Second Quarter 2023 Earnings Call

NEW YORK, July 25, 2023 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) today announced that the Board has named Paul K. Voigt Interim Chief Executive Officer, effective immediately. Suzi Herbst, who had been serving as interim CEO immediately following the passing of Wayne Barr, will remain the Company's Chief Operating Officer.

INNOVATE Corp. Names Paul K. Voigt Interim CEO

NEW YORK, July 23, 2023 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) today announced that Wayne Barr, President, Chief Executive Officer and Director, passed away unexpectedly on July 22, 2023. The Board has appointed Chief Operating Officer Suzi Herbst as Interim Chief Executive Officer.

INNOVATE Corp. Announces the Untimely Passing of CEO Wayne Barr

NEW YORK, July 19, 2023 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) announced today that it will release its financial results for the second quarter 2023 on Tuesday, August 8, 2023 after market close. The Company will host an earnings conference call reviewing these results, its operations and strategy on the same day, beginning at 4:30 p.m. ET.

INNOVATE Corp. to Report Second Quarter 2023 Results on August 8th

Innovate Corp. has announced new projects in the infrastructure and construction segment and plans to launch Glacial AI, a robotic cooling device. The company has recently sold assets and repurchased preferred stock, potentially improving its balance sheet. Despite risks from high debt, inflation, and failed M&A strategies, VATE stock appears undervalued.

Innovate: Infrastructure Growth And Glacial AI Could Imply Undervaluation

Ducommun

DLH Hlds

Genco Shipping & Trading

Golden Ocean Group

The most oversold stocks in the industrials sector presents an opportunity to buy into undervalued companies.

Top 5 Industrials Stocks Which Could Rescue Your Portfolio This Month - Ducommun (NYSE:DCO), DLH Hldgs (NASDAQ:DLHC)

MediBeacon expands management team as enrollment in Phase 3 study focused on kidney disease is completed ST. LOUIS , May 16, 2023 /PRNewswire/ -- MediBeacon Inc., a portfolio company within the Pansend Life Sciences segment of INNOVATE Corp. (NYSE: VATE), today announced the appointment of Dr. Steve Miller as chief medical officer.

MediBeacon Inc. Appoints Dr. Steve Miller as Chief Medical Officer

INNOVATE Corp. (NYSE:VATE ) Q1 2023 Earnings Conference Call May 10, 2023 4:30 PM ET Company Participants Anthony Rozmus - IR Avi Glazer - Chairman Wayne Barr - CEO Michael Sena - CFO Conference Call Participants Brian Charles - RW Pressprich Andrew White - Nut Tree Capital Operator Good afternoon, and welcome to INNOVATE Corp.'s First Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode.

INNOVATE Corp. (VATE) Q1 2023 Earnings Call Transcript

- Infrastructure: DBM Global delivered first quarter revenue of $311.7 million - - Life Sciences: R2 Technologies receives expanded FDA clearances - - Spectrum: Broadcasting's station revenues increased in the first quarter -

INNOVATE Corp. Announces First Quarter 2023 Results

Spectrum Brands Hlds

Our guest this week is Hedge Fund Manager Chris DeMuth Jr. Chris shares an update on his big stock pick of 2023, his newest event driven trade, and how investors can play it.

A New Trade Alert With Chris DeMuth Jr. (Sifting The World)

NEW YORK, May 02, 2023 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”), today announced a change to its first quarter 2023 earnings results and conference call date. The Company will now report its first quarter 2023 financial results after market close on Wednesday, May 10, 2023. The Company will host an earnings conference call reviewing these results, its operations and strategy on the same day, beginning at 4:30 p.m. ET.

INNOVATE Corp. Announces Date Change for First Quarter 2023 Earnings Call

NEW YORK, April 18, 2023 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) announced today that it will release its financial results for the first quarter 2023 on Tuesday, May 2, 2023 after market close. The Company will host an earnings conference call reviewing these results, its operations and strategy on the same day, beginning at 4:30 p.m. ET.

INNOVATE Corp. to Report First Quarter 2023 Results on May 2

What happened to our best new idea for 2023 in Q1? What's left?

Best New Idea: Innovate

NEW YORK, April 03, 2023 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or “the Company”) (NYSE: VATE), today announced that its Board of Directors voted to adopt a Tax Benefits Preservation Plan (the “2023 Plan”) designed to protect the availability of INNOVATE's net operating loss carryforwards ("NOLs") and other tax attributes under the Internal Revenue Code (the “Code”). The adoption of this plan follows the expiration of a prior tax benefits preservation plan by its terms on March 31, 2023.

INNOVATE Corp. Adopts Tax Benefit Preservation Plan

INNOVATE Corp. (NYSE:VATE ) Q4 2022 Earnings Conference Call March 14, 2023 4:30 PM ET Company Participants Anthony Rozmus - Investor Relations Avi Glazer - Chairman Wayne Barr - Chief Executive Officer Mike Sena - Chief Financial Officer Conference Call Participants Brian Charles - R.W. Pressprich Operator Good afternoon.

INNOVATE Corp. (VATE) Q4 2022 Earnings Call Transcript

- Infrastructure: DBM Global finishes year strong; achieves 37% revenue growth for 2022 - - Life Sciences: MediBeacon completed enrollment of both U.S. and China Pivotal Studies - - Spectrum: Broadcasting added contracts with three major networks and launched new programming - - Company meets Continued Listing Standards from NYSE -

INNOVATE Corp. Announces Fourth Quarter and Full Year 2022 Results

NEW YORK, March 07, 2023 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE), today announced that it has closed the sale of the remaining 19% interest in HMN International Co. Ltd., formerly known as Huawei Marine Networks Co. (“HMN”), to subsidiaries and an affiliate of Hengtong Optic-Electric Co Ltd.

INNOVATE Corp. Completes Sale of Remaining Equity Stake in HMN International

NEW YORK, Feb. 16, 2023 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) announced today that it will release its financial results for the fourth quarter and full year 2022 on Wednesday, March 8, 2023 after market close. The Company will host an earnings conference call reviewing these results, its operations and strategy on the same day, beginning at 4:30 p.m. ET.

INNOVATE Corp. to Report Fourth Quarter and Full Year 2022 Results on March 8

Today, VATE costs under $3 but is a bargain beneath $4. Their infrastructure business alone is worth $1.

Best New Idea For 2023: Innovate

MediBeacon approaching completion of Phase 3 study focused on kidney disease; Has submitted three of five required PMA modules needed for FDA approval ST. LOUIS , Nov. 16, 2022 /PRNewswire/ -- MediBeacon Inc., a portfolio company within the Pansend Life Sciences segment of INNOVATE Corp. (NYSE: VATE), today announced amendments to its commercial partnership with Huadong Medicine Co., Ltd.

MediBeacon Receives $10 Million in Amended Agreements with Huadong Medicine to Accelerate Development of Transdermal GFR Measurement System

INNOVATE Corporation (NYSE:VATE ) Q3 2022 Earnings Conference Call November 2, 2022 4:30 PM ET Company Participants Anthony Rozmus - IR Officer Avram Glazer - Independent Chairman Wayne Barr - CEO, President & Director Michael Sena - CFO Conference Call Participants Brian Charles - R.W. Pressprich & Co. Bryant Riley - B.

News for INNOVATE Corp Stock (VATE)