Quarterly ResultAug 6, 2026, 04:24 PM
INNOVATE Q2 Revenue $421.6M, Net Income $10.4M; Broadcasting Sale
AI Summary
INNOVATE Corp. announced strong Q2 2026 results, with consolidated revenue increasing 74.2% to $421.6 million and net income reaching $10.4 million, a significant turnaround from a $22.0 million loss year-over-year. Diluted EPS was $0.71. The Infrastructure segment, led by DBM Global, delivered record results with 77.6% revenue growth and a $2.7 billion adjusted backlog. The company also progressed strategic asset dispositions, including agreeing to sell a controlling interest in Broadcasting, retaining approximately 25%.
Key Highlights
- Consolidated Revenue: $421.6M, up 74.2% YoY.
- Net Income: $10.4M, up 147.3% YoY from a $22.0M loss.
- Diluted EPS: $0.71, up 142.5% YoY from a $1.67 loss.
- Total Adjusted EBITDA: $46.3M, up 194.9% YoY.
- DBM Global (Infrastructure) revenue: $414.0M, up 77.6% YoY.
- DBM Global adjusted backlog: $2.7B as of June 30, 2026.
- Partial sale of Broadcasting: INNOVATE to own ~25%, CONX ~75%.
- MediBeacon engaged with over 100 healthcare institutions for TGFR System.
Price Impact
More from VATE