INNOVATE Corp.

INNOVATE Corp. announced that it will release its financial results for the third quarter of 2026 on Thursday, November 12, 2026, after market close. The company will host an earnings conference call on the same day at 4:30 p.m. ET to review the results, operations, and strategy. The call will be broadcast live online via the company's Investor Relations website, with a replay available afterward.

INNOVATE Corp. announced it has entered into a Transaction Agreement to sell DBM Global, Inc. to IES Holdings, Inc. for an aggregate base purchase consideration valued at $650 million. INNOVATE, which owns approximately 91.21% of DBM Global, will receive approximately $453 million in cash and $140 million in IES common stock. The company intends to use all net proceeds from the transaction to reduce its outstanding indebtedness, including repaying its revolving credit agreement and redeeming senior secured notes. The transaction is expected to close in the quarter ending December 31, 2026, subject to customary closing conditions. INNOVATE is also pursuing the disposition of HC2 Broadcasting Holdings Inc.

INNOVATE Corp. reported a net income of $10.7 million for Q2 2026, a significant improvement from a loss in the prior year, with revenue increasing to $421.6 million. However, the company disclosed substantial doubt about its ability to continue as a going concern due to upcoming debt obligations. To address this, INNOVATE is pursuing the sale of a controlling interest in its Spectrum segment and has undertaken significant debt restructuring, including a gain on extinguishment of debt and subsequent amendments to reduce cash interest payments.

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%.

INNOVATE Corp. entered into two supplemental indentures on July 31, 2026, for its 10.500% Senior Secured Notes and 9.5% Convertible Senior Secured Notes due 2027. These amendments permit interest for the period from February 1, 2026, through July 31, 2026, to be paid in kind (PIK) by increasing the principal amount of notes for consenting holders, who also received a 1.5% consent fee in additional notes. This will reduce cash interest payments for the August 1, 2026, period from $19.9 million to $3.1 million for the senior secured notes and from $2.7 million to $0.5 million for the convertible notes. Additionally, a subsidiary, R2 Technologies, extended the maturity date of a promissory note with Lancer Capital, LLC from August 1, 2026, to December 31, 2026.

INNOVATE Corp. announced that its operating subsidiary, DBM Global Inc. (DBMG), will pay a cash dividend of approximately $12 million, or $3.12 per share. The dividend is scheduled for payment on August 3, 2026, to stockholders of record as of July 20, 2026. As DBMG's largest stockholder, INNOVATE expects to receive about $11 million from this payout, though its individual stockholders are not eligible for this specific dividend.

INNOVATE Corp. announced that its operating subsidiary, DBM Global Inc. (DBMG), will pay a cash dividend of approximately $12 million, or $3.12 per share, to its stockholders. As the largest stockholder of DBMG, INNOVATE expects to receive approximately $11 million from this dividend payout. The dividend is payable on August 3, 2026, to DBMG stockholders of record as of July 20, 2026.

INNOVATE Corp. stockholders held their Annual Meeting on June 11, 2026, where they elected four nominees to the Board of Directors. Shareholders also approved, on a non-binding advisory basis, the compensation of the company's named executive officers. Additionally, an amendment to the 2014 Omnibus Equity Award Plan was approved to increase available shares, and the appointment of BDO USA, P.C. as the independent auditor for 2026 was ratified.

INNOVATE Corp. announced the sale of a controlling interest in its subsidiary, HC2 Broadcasting Holdings Inc. (Broadcasting), to CONX CORP. Following the transaction, CONX is expected to own approximately 75% of Broadcasting, with INNOVATE retaining about 25%. Concurrently, Broadcasting completed a $105 million refinancing transaction, using the proceeds to satisfy existing notes. CONX will also provide an equity commitment of up to $75 million to Broadcasting post-merger, and INNOVATE has an option to repurchase up to 15% of Broadcasting within 18 months.

INNOVATE Corp. announced strong first quarter 2026 results, with consolidated revenue increasing 33.0% to $364.8 million and Total Adjusted EBITDA surging 173.6% to $19.7 million. The company significantly reduced its net loss attributable to common stockholders by 30.6% to $17.2 million. Key drivers included robust performance in the Infrastructure segment and a major regulatory approval for MediBeacon in Life Sciences, partially offset by declines in the Spectrum segment.