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.

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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.

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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.

INNOVATE Corp. (VATE) Q3 2024 Earnings Call Transcript

- Infrastructure: DBM Global third quarter revenue of $232.8 million - - Life Sciences: R2 reports record worldwide system unit sales growth in the third quarter - - Spectrum: Broadcasting's delivered another quarter of strong growth driven by network launches -

INNOVATE Corp. Announces Third Quarter 2024 Results

NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) announced today that it will release its financial results for the third quarter 2024 on Wednesday, November 6, 2024, 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 2024 Results on November 6th

NEW YORK, Sept. 03, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) announced today that it has received a letter from the New York Stock Exchange (“NYSE”) dated August 27, 2024 (the “Compliance Notice”), notifying the Company that it is no longer considered below the NYSE's continued listing criterion of a minimum average share price of US $1.00 over a 30 trading-day period (the "NYSE Minimum Price Requirement").

INNOVATE Corp. Regains Compliance with NYSE Minimum Price Requirement

INNOVATE Corp. (VATE) Q2 2024 Earnings Call Transcript

- Infrastructure: DBM Global achieved second quarter revenue of $305.2 million - - Life Sciences: R2 achieved record Glacial system sales in North America in the second quarter - - Spectrum: Broadcasting's growth driven by launch of new networks and cost-cutting efforts -

INNOVATE Corp. Announces Second Quarter 2024 Results

NEW YORK, July 29, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE), a diversified holding company, announced today that the Company is amending the effective date for its 1-for-10 reverse stock split of the Company's common stock, par value $0.001 per share (the “Common Stock”). The reverse stock split will become effective at 5:00 p.m. Eastern Time on August 8, 2024, after close of trading on the New York Stock Exchange. Previously, the Company planned for the reverse stock split to become effective on August 2, 2024. The Company's Common Stock is expected to begin trading on a split-adjusted basis when the markets open on August 9, 2024, under the existing trading symbol “VATE”.

INNOVATE Corp. Announces Extension of Effective Date for Reverse Stock Split to August 8, 2024

NEW YORK, July 19, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE), a diversified holding company, announced today that its Board of Directors has approved a 1-for-10 reverse stock split of the Company's common stock, par value $0.001 per share (the “Common Stock”). The reverse stock split will become effective at 5:00 p.m. Eastern Time on August 2, 2024, after close of trading on the New York Stock Exchange (“NYSE”). The Company's Common Stock is expected to commence trading on a split-adjusted basis when the markets open on August 5, 2024, under the existing trading symbol “VATE.”

INNOVATE Corp. Announces 1-for-10 Reverse Stock Split of the Company's Common Stock

NEW YORK, July 17, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) announced today that it will release its financial results for the second quarter 2024 on Wednesday, August 7, 2024, 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 2024 Results on August 7th

INNOVATE Corp. (NYSE:VATE ) Q1 2024 Earnings Conference Call May 7, 2024 4:30 PM ET Company Participants Paul Voigt – Interim Chief Executive Officer Mike Sena – Chief Financial Officer Conference Call Participants Operator Good afternoon, and welcome to INNOVATE Corp.'s First Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode.

INNOVATE Corp. (VATE) Q1 2024 Earnings Call Transcript

- Infrastructure: DBM Global achieved first quarter revenue of $307.9 million - - Life Sciences: R2 delivered record North America system sales in the first quarter 2024 - - Spectrum: Broadcasting's revenue growth driven by launch of new networks -

INNOVATE Corp. Announces First Quarter 2024 Results

NEW YORK, April 26, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) announced today that it will release its financial results for the first quarter 2024 on Tuesday, May 7, 2024, 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 2024 Results on May 7th

NEW YORK, April 24, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE), a diversified holding company, announced today the closing of its successful rights offering, which expired at 5:00 p.m., New York City time, on April 19, 2024. Pursuant to the terms of the rights offering, 5.2 million shares of common stock are being purchased pursuant to the exercise of basic subscription rights and 0.1 million additional shares of common stock are being purchased under the over-subscription privilege.

INNOVATE Corp. Announces Closing of Rights Offering

NEW YORK, April 22, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE), a diversified holding company, announced today the preliminary results of its successful rights offering, which expired at 5:00 p.m., New York City time, on April 19, 2024 (the “expiration date”). According to Computershare Trust Company, N.A. (the “subscription agent”), as of the expiration date, 18.1 million basic subscription rights were exercised to purchase an aggregate of 5.2 million shares of common stock and 0.1 million additional shares of common stock were subscribed for under the over-subscription privilege, subject to proration.

INNOVATE Corp. Announces Preliminary Results of Rights Offering

NEW YORK, April 09, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE), a diversified holding company, announced today that its Board of Directors has extended the subscription period for its rights offering to 5:00 p.m. Eastern Time on April 19, 2024, in order to allow stockholders and noteholders who are entitled to participate in the rights offering (holders of record of the Company's common stock, Series A-3 Preferred Stock, Series A-4 Preferred Stock and 2026 Convertible Notes as of 5:00 p.m. Eastern Time on March 6, 2024) additional time to participate. The rights offering was initially scheduled to expire at 5:00 p.m. Eastern Time on March 25, 2024 and the expiration date was previously extended until 5:00 p.m. Eastern Time on April 9, 2024.

INNOVATE Corp. Announces Further Extension of Rights Offering Subscription Period

NEW YORK, March 25, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE), a diversified holding company, announced today that its Board of Directors has extended the subscription period for its rights offering to 5:00 p.m. Eastern Time on April 9, 2024, in order to allow stockholders and noteholders who are entitled to participate in the rights offering (holders of record of the Company's common stock, Series A-3 Preferred Stock, Series A-4 Preferred Stock and 2026 Convertible Notes as of 5:00 p.m. Eastern Time on March 6, 2024) additional time to participate.

INNOVATE Corp. Announces Extension of Rights Offering Subscription Period

NEW YORK, March 08, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE), a diversified holding company, announced today that it has commenced its previously announced $19.0 million rights offering for its common stock.

INNOVATE Corp. Announces Commencement of Rights Offering

NEW YORK, March 06, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE), a diversified holding company, announced today that it has approved the pricing for its previously announced rights offering.

INNOVATE Corp. Announces Rights Offering Pricing

INNOVATE Corp. (NYSE:VATE ) Q4 2023 Earnings Conference Call March 4, 2024 4:30 PM ET Company Participants Anthony Rozmus - Investor Relations Paul Voigt - Interim Chief Executive Officer Mike Sena - Chief Financial Officer Operator Good afternoon, and welcome to INNOVATE Corp.'s Fourth Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode.

INNOVATE Corp. (VATE) Q4 2023 Earnings Call Transcript

- Infrastructure: DBM Global achieved fourth quarter revenue of $353.8 million - - Life Sciences: R2 experienced strong North America unit sales in the fourth quarter - - Spectrum: B roadcasting entered into agreements with PBS stations for new commercial opportunities with ATSC 3.0 -

INNOVATE Corp. Announces Fourth Quarter and Full Year 2023 Results

NEW YORK, Feb. 26, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE), a diversified holding company, announced today that its Board of Directors (the “Board”) has approved a plan to proceed with and fixed a record date for an $19.0 million rights offering for its common stock.

INNOVATE Corp. Announces Rights Offering for Common Stock

NEW YORK--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces its investigation of INNOVATE Corp. (NYSE: VATE) concerning the Company and its directors' and officers' possible violations of state laws. If you own INNOVATE stock, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Tom Kennedy, of GPM, 230 Park Avenue, Suite 358, New York, NY 10169 at tkennedy@glanc.

Glancy Prongay & Murray LLP Announces Investigation of INNOVATE Corp. (VATE)

NEW YORK, Feb. 12, 2024 (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 2023 on Monday, March 4, 2024, 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 2023 Results on March 4th

INNOVATE Corp. (NYSE:VATE ) Q3 2023 Earnings Conference Call November 9, 2023 4:30 PM ET Company Participants Anthony Rozmus - Investor Relations Avie Glazer - Chairman Paul Voigt - Interim Chief Executive Officer Michael Sena - Chief Financial Officer Conference Call Participants Brian Charles - R.W. Pressprich Operator Good afternoon and welcome to INNOVATE Corp's Third Quarter 2023 Earnings Conference Call.

INNOVATE Corp. (VATE) Q3 2023 Earnings Call Transcript

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

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