INNOVATE Corp. Announces Third Quarter 2026 Results
Globe Newswire•12/11/2026•16:05 ET
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Key Highlights
- ➤Revenue $495.5M, up 42.8% year over year
- ➤Net income $15.8M versus $9.4M loss; diluted EPS $1.10
- ➤Total Adjusted EBITDA $40.5M, up 104.5% year over year
- ➤DBM Global sale delivered approximately $413M cash at closing
- ➤HC2 Broadcasting sale left INNOVATE with a 25% ownership interest
Expert Statements
Avie Glazer, Chairman of INNOVATE
“INNOVATE executed on several key strategic priorities in the third quarter”
Avie Glazer, Chairman of INNOVATE
“DBM Global capped its final quarter under our ownership with exceptional performance, and we took two significant steps to reshape our portfolio through the sale of a controlling interest in HC2 Broadcasting and, shortly after quarter-end, the sale of DBM Global to IES. These transactions mark meaningful progress in our efforts to unlock the value of our assets, generate funds to help address coming debt repayment and redemption obligations, and further simplify INNOVATE's portfolio and capital structure.”
Paul Voigt, Interim CEO of INNOVATE
“Our focus now turns to the opportunities within our remaining portfolio, addressing liquidity and continuing to maximize value for INNOVATE shareholders”
Paul Voigt, Interim CEO of INNOVATE
“MediBeacon continues to build commercial momentum and advance its commercialization efforts in the U.S. and China, while HC2 Broadcasting is actively pursuing initiatives to unlock greater potential for its spectrum assets. We are encouraged by the progress and remain focused on supporting their strategic initiatives.”
- Infrastructure: INNOVATE completes sale of DBM Global to IES Holdings - Life Sciences: MediBeacon continues to advance U.S. commercialization efforts, while progressing key reimbursement initiatives - Spectrum: INNOVATE closed on the sale of a controlling interest in HC2 Broadcasting
NEW YORK, Nov. 12, 2026 (GLOBE NEWSWIRE) -- INNOVATE CORP.(®) (“INNOVATE” or the “Company”) (NYSE: VATE) announced today its consolidated results for the third quarter.
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