{"id":1020613,"date":"2026-11-12T17:42:06","date_gmt":"2026-11-12T22:42:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/innovate-corp-announces-third-quarter-2026-results\/"},"modified":"2026-11-12T17:42:06","modified_gmt":"2026-11-12T22:42:06","slug":"innovate-corp-announces-third-quarter-2026-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/innovate-corp-announces-third-quarter-2026-results\/","title":{"rendered":"INNOVATE Corp. Announces Third Quarter 2026 Results"},"content":{"rendered":"
\n

\n – Infrastructure:<\/em>
\n INNOVATE completes sale of DBM Global to IES Holdings<\/em>
\n
\n – Life Sciences: MediBeacon continues to advance U.S. commercialization efforts, while progressing key reimbursement initiatives<\/em>
\n
\n – Spectrum: INNOVATE closed on the sale of a controlling interest in HC2 Broadcasting<\/em>\n <\/p>\n

NEW YORK, Nov. 12, 2026 (GLOBE NEWSWIRE) — INNOVATE CORP.\u00ae<\/sup> (\u201cINNOVATE\u201d or the \u201cCompany\u201d) (NYSE: VATE) announced today its consolidated results for the third quarter.<\/p>\n

\n Financial Summary<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n
(in millions, except per share amounts)<\/td>\n\n Three Months Ended September 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Nine Months Ended September 30,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Increase \/ (Decrease)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Increase \/ (Decrease)<\/strong>\n <\/td>\n<\/tr>\n
Revenue<\/td>\n$<\/td>\n495.5<\/td>\n\u00a0<\/td>\n$<\/td>\n347.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n42.8<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n1,281.9<\/td>\n\u00a0<\/td>\n$<\/td>\n863.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n48.5<\/td>\n%<\/td>\n<\/tr>\n
Net income (loss) attributable to common stockholders and participating preferred stockholders<\/td>\n$<\/td>\n15.8<\/td>\n\u00a0<\/td>\n$<\/td>\n(9.4<\/td>\n)<\/td>\n\u00a0<\/td>\n268.1<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n9.0<\/td>\n\u00a0<\/td>\n$<\/td>\n(56.2<\/td>\n)<\/td>\n\u00a0<\/td>\n116.0<\/td>\n%<\/td>\n<\/tr>\n
Basic earnings (loss) per share attributable to common stockholders<\/td>\n$<\/td>\n1.12<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.71<\/td>\n)<\/td>\n\u00a0<\/td>\n257.7<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n0.64<\/td>\n\u00a0<\/td>\n$<\/td>\n(4.27<\/td>\n)<\/td>\n\u00a0<\/td>\n115.0<\/td>\n%<\/td>\n<\/tr>\n
Diluted earnings (loss) per share attributable to common stockholders<\/td>\n$<\/td>\n1.10<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.71<\/td>\n)<\/td>\n\u00a0<\/td>\n254.9<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n0.63<\/td>\n\u00a0<\/td>\n$<\/td>\n(4.27<\/td>\n)<\/td>\n\u00a0<\/td>\n114.8<\/td>\n%<\/td>\n<\/tr>\n
Total Adjusted EBITDA(1)<\/sup><\/td>\n$<\/td>\n40.5<\/td>\n\u00a0<\/td>\n$<\/td>\n19.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n104.5<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n106.5<\/td>\n\u00a0<\/td>\n$<\/td>\n42.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n149.4<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

(1) Reconciliation of GAAP to Non-GAAP measures follows.<\/p>\n

\n Commentary<\/strong>\n <\/p>\n

“INNOVATE executed on several key strategic priorities in the third quarter,” said Avie Glazer, Chairman of INNOVATE. \u201cDBM 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.”<\/p>\n

“Our focus now turns to the opportunities within our remaining portfolio, addressing liquidity and continuing to maximize value for INNOVATE shareholders,” said Paul Voigt, Interim CEO of INNOVATE. \u201cMediBeacon 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.”<\/p>\n

\n Third Quarter 2026 and Recent Highlights<\/strong>\n <\/p>\n