INNOVATE Corp.

INNOVATE Corp.

VATEยทNYSE

$17.13

+11%
IndustrialsEngineering & Construction

INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. It provides industrial construction, structural steel, and facility maintenance services for use in commercial, industrial, and infrastructure construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, metal processing, refineries, pulp and paper mills, and power plants. The company also fabricates trusses and girders; and fabricates and erects water pipe, water storage tanks, tunnel liners, pressure vessels, strainers, filters, separators, and other customized products. In addition, it offers integrated solutions for digital engineering, modeling and detailing, construction, heavy equipment installation, and facility services; and steel and rebar detailing, and BIM modeling and management services, as well as equipment used in the oil, gas, petrochemical, and pipeline industries. Further, the company develops products for early osteoarthritis of the knee, and aesthetic and medical technologies for the skin. Additionally, it operates over-the-air broadcasting stations and Azteca America, a Spanish-language broadcast network. The company was formerly known as HC2 Holdings, Inc. and changed its name to INNOVATE Corp. in September 2021. The company was incorporated in 1994 and is headquartered in New York, New York.

At a Glance

Live Snapshot
Market Cap$233.69M
EPS-4.8400
P/E Ratio-3.54
Earnings Date08/05/2026
3Y-24.0%
5Y+74.0%
10Y-20.0%
3Y+69.0%
5Y-34.0%
10Y-43.0%
3Y-1643.0%
5Y+257.0%
10Y+85.0%
INNOVATE Corp.

INNOVATE Corp. Profit Bridge

VATE ยท NYSE
Revenue1.25B
Cost of Goods Sold (1.06B)
Gross Profit182.20M
Operating Expenses (148.00M)
Operating Income34.20M
Interest Expense (89.00M)
Other Income/Expense-95.70M
Pretax Income-61.50M
Income Tax (2.50M)
Net Income-60.60M
Net Income
-60.60M

Profitability Analysis

Gross Margin

14.6%

Thin margins leave little room for error. Cost management and pricing strategy are critical.

Operating Margin

2.7%

Minimal operating profit suggests high operating costs or pricing challenges. Scalability is concerning.

Net Profit Margin

-4.9%

Net losses indicate the company is burning cash. Sustainability depends on path to profitability.

Profitability Insight

Non-operating losses: Core business is profitable but other expenses (interest, taxes, one-time items) are driving net losses. Review capital structure and non-operating items.

INNOVATE Corp. Income Statement

VATE โ€ข NYSE

INNOVATE Corp. Income StatementDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009Dec 2008Dec 2007Dec 2006
REVENUE
1.2B
1.1B
1.4B
1.6B
1.2B
716.9M
1.8B
2B
1.6B
1.6B
1.1B
543.2M
230.7M
260.6M
989.3M
764.9M
815.6M
895.9M
902.2M
1B
GROSS PROFIT
(1.1B)
(898.3M)
(1.2B)
(1.4B)
(1B)
(588.5M)
(1.5B)
(1.8B)
(1.4B)
(1.4B)
(984.9M)
(471.5M)
(220.3M)
(125.3M)
(695.7M)
(488.6M)
(533.7M)
(569.9M)
(554.9M)
(663.8M)
182.2M
208.8M
216M
221.4M
183.7M
128.4M
279.3M
194.2M
212.4M
180.9M
135.9M
71.7M
10.4M
135.3M
293.5M
276.3M
281.8M
326M
347.3M
347.6M
OPERATING INCOME
(148M)
(168.8M)
(189.5M)
(208M)
(194.3M)
(156.7M)
(191.3M)
(250M)
(213.5M)
(177.4M)
(131.8M)
(86M)
(46.7M)
(133.8M)
(266.1M)
(263.5M)
(250.6M)
(287.2M)
(307.9M)
(362.3M)
(153.1M)
(0.0)
(0.0)
(0.0)
(0.0)
(145.5M)
(190.1M)
(218.4M)
(182.9M)
(152.9M)
(108.5M)
(81.4M)
(34.7M)
(102.8M)
(214.6M)
(198.2M)
(198.7M)
(260.4M)
(284M)
(287.6M)
34.2M
40M
26.5M
13.4M
-10.6M
-28.3M
95.8M
-55.8M
-1.1M
-1.4M
2.2M
-14.4M
-39.1M
-8.7M
12.8M
12.7M
31.1M
38.8M
31.3M
-212.9M
PRE-TAX INCOME
(89M)
(74.5M)
(68.2M)
(52M)
(59.1M)
(74.8M)
(76.1M)
(75.7M)
(55.1M)
(43.4M)
(39M)
(12.3M)
(234K)
(27K)
(32.5M)
(35.5M)
(31.5M)
(53.9M)
(61.3M)
(54.2M)
-88.3M
-71.9M
-68.2M
-52M
-59.1M
-74.8M
-76.1M
-75.7M
-55.1M
-43.4M
-39M
-12.3M
-8K
63K
75K
-35.7M
-30.5M
-53.8M
-55.7M
-50.5M
-5.1M
(168.8M)
(189.5M)
(208M)
(194.3M)
(11.2M)
(1.2M)
(78.7M)
-12.8M
-2.8M
-6.8M
(4.6M)
(12M)
(31M)
(51.5M)
(65.3M)
(51.9M)
(26.8M)
(23.9M)
(74.7M)
-95.7M
-73.4M
-60.9M
-54.5M
-70.1M
-18.4M
-117.1M
238.1M
-38.7M
-44.4M
-47.3M
-20.6M
14.1M
-19.3M
-40M
-13.6M
427M
-63.9M
-31.5M
-27.5M
-61.5M
-33.4M
-34.4M
-41.1M
-80.7M
-46.7M
-37.1M
182.3M
-39.8M
-45.8M
-46.6M
-33.9M
-25.1M
-50.4M
-27.2M
-19.4M
472.9M
-25.1M
229K
-241.6M
NET INCOME
(2.5M)
(6.3M)
(4.5M)
(900K)
(5.6M)
(7M)
-20.3M
(2.4M)
(10.7M)
(51.6M)
-10.9M
-24.5M
-7.4M
-4.5M
(869K)
-9.1M
-6.1M
-366K
-9.2M
(4.9M)
-60.6M
-34.6M
-35.2M
-35.9M
-227.5M
-92M
-17.6M
139M
-49.7M
-105.4M
-39.8M
-16.3M
-17.6M
-44.9M
-38.7M
-19.1M
477.9M
-25M
15.7M
-238M

SEC Filings

VATE - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
8-K

8-K 2026

N/A

June 01, 2026
May 29, 2026
2026
10-Q

10-Q 2026 Q1

Q1

May 14, 2026
March 31, 2026
2026
8-K

8-K 2026

N/A

May 14, 2026
May 14, 2026
2026
DEF 14A

DEF 14A 2025

N/A

April 28, 2026
December 31, 2025
2025
8-K

8-K 2026

N/A

April 06, 2026
April 06, 2026
2026
8-K

8-K 2026

N/A

March 31, 2026
March 31, 2026
2026
10-K

10-K 2025 FY

FY

March 26, 2026
December 31, 2025
2025
8-K

8-K 2026

N/A

March 26, 2026
March 26, 2026
2026
8-K

8-K 2026

N/A

February 10, 2026
February 10, 2026
2026
8-K

8-K 2026

N/A

February 02, 2026
February 02, 2026
2026
Showing 1 to 10 of 711 filings