Innovate Corp. (VATE)
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VATE Q2 Earnings Improve Y/Y as Infrastructure Revenues Surge
INNOVATE swings to a Q2 profit as revenues surge 74.2% y/y, fueled by DBM Global's growth, wider margins and backlog gains, while debt and liquidity remain in focus.
INNOVATE Q2 Earnings Call Highlights
INNOVATE NYSE: VATE reported second-quarter 2026 revenue of $421.6 million, up 74.2% from $242 million a year earlier, as its Infrastructure segment delivered record revenue, wider margins and backlog growth. The company posted net income attributable to common and participating preferred stockholders of $10.4 million, or $0.71 per fully diluted share, compared with a net loss of $22 million, or $1.67 per fully diluted share, in the prior-year quarter.
INNOVATE Corp. (VATE) Q2 2026 Earnings Call Prepared Remarks Transcript
INNOVATE Corp. (VATE) Q2 2026 Earnings Call Prepared Remarks Transcript
Innovate Corp. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 75 | $1,400.25 | $463.12 | -$937.13 | -66.93% |
| CD Charlie Durham Sterling Capital Management LLC | 30 | $560 | $179.1 | -$380.9 | -68.02% |
 Hui Fai Tam Caitong International Asset Management Co. Ltd. | 29 | $164.65 | $180.09 | $15.44 | 9.38% |
 Christopher C. Powers Farther Finance Advisors, LLC | 326 | $2,422 | $2,014.68 | -$407.32 | -16.82% |
 Mark Schafer Police & Firemen's Retirement System of New Jersey | 2,380 | $44,435 | $14,208.6 | -$30,226.4 | -68.02% |
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Innovate Corp. Profile
| Construction & Engineering Industry | Industrials Sector | Paul Kenneth Voigt CEO | NYSE Exchange | 45784J303 CUSIP |
| US Country | 3,663 Employees | 13 Apr 2026 Last Dividend | 9 Aug 2024 Last Split | - IPO Date |
Overview
INNOVATE Corp., operating through its subsidiaries in the United States, is a diversified conglomerate with a focus on infrastructure, life sciences, and spectrum industries. The company, previously known as HC2 Holdings, Inc., rebranded to INNOVATE Corp. in September 2021. Since its inception in 1994, and being headquartered in New York, New York, INNOVATE has expanded its services and product offerings to cater to a wide range of sectors including commercial, industrial, and infrastructure projects, as well as in the development of medical and aesthetic technologies.
Products and Services
- Industrial Construction, Structural Steel, and Facility Maintenance: INNOVATE provides construction services for various projects including buildings, office complexes, hotels, casinos, convention centers, sports arenas, stadiums, shopping malls, hospitals, and infrastructure projects such as dams, bridges, mines, refineries, and power plants. These services are pivotal for the development and maintenance of commercial, industrial, and infrastructure facilities.
- Fabrication and Erection: The company specializes in fabricating trusses and girders, as well as erecting water pipes, water storage tanks, tunnel liners, pressure vessels, strainers, filters, separators, and customized products. These offerings support the infrastructure necessary for efficient water management, mining, and industrial processing activities.
- Integrated Solutions and Equipment for Industries: INNOVATE offers integrated solutions encompassing digital engineering, modeling and detailing, construction, heavy equipment installation, and facility services. Additionally, it provides steel and rebar detailing, BIM modeling, and management services, as well as specialized equipment for the oil, gas, petrochemical, and pipeline industries. These services ensure the delivery of comprehensive solutions for complex industrial projects.
- Life Sciences - Medical Technologies: The company is engaged in the development of products aimed at addressing early osteoarthritis of the knee and offers aesthetic and medical technologies for skin treatments. These innovative solutions cater to the growing demands in healthcare and aesthetic medicine by providing advanced treatments and technologies.
- Broadcasting and Media: INNOVATE operates over-the-air broadcasting stations and owns Azteca America, a Spanish-language broadcast network. This segment of the company's operations focuses on delivering media content to diverse audiences, thereby expanding its footprint in the broadcasting and media industries.
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