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 2024

INNOVATE Corp. reports strong Q1 performance, eyes new growth opportunities

INNOVATE Corp.'s Q1 2023 earnings call showcased strong performance and a focus on profitability and growth. While facing challenges related to project delays and margin expectations, the company is well-positioned to capitalize on new opportunities and drive future expansion.

INNOVATE Corp. reports strong Q2 results amidst segment challenges

INNOVATE Corp. delivered strong Q2 results despite challenges in certain segments, demonstrating resilience and progress in its strategic initiatives. The company remains focused on addressing short-term liquidity challenges and unlocking shareholder value through strategic moves and market opportunities.

INNOVATE Corp reports strong Q3 earnings, Spectrum seeks strategic partnerships

INNOVATE Corp and DBM Global delivered strong financial performance in Q3 2023, with the infrastructure business and Life Sciences segment showing promise. However, Spectrum faced challenges with adjusted EBITDA losses and increased indebtedness. Opportunities exist for strategic partnerships and growth in the Life Sciences segment.

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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.

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 -

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

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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

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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

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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.

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