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INNOVATE Corp (VATE)
NYSE:VATE
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2018
|% Change Since: -0.58%
|Next Earnings Date:Aug 08, 2018
Earnings Call Sentiment|Neutral
The earnings call highlighted significant growth and achievements in the Life Sciences and Spectrum segments, with impressive sales growth, margin improvements, and increased profitability. However, these were offset by notable declines in consolidated revenue, particularly in the Infrastructure segment, and an increased net loss, indicating mixed performance across segments.Company Guidance
During the earnings call for the third quarter of 2024, INNOVATE Corp. provided guidance highlighting various performance metrics across its business segments. The company reported consolidated revenues of $242.2 million and adjusted EBITDA of $16.8 million. DBM Global, a key segment, achieved revenues of $232.8 million with an adjusted EBITDA of $20.9 million, noting a year-over-year gross margin improvement of approximately 360 basis points to 18.8%. The Life Sciences segment, led by R2, exhibited extraordinary growth with a 217% increase in top-line sales year-to-date and a 416% rise in system unit sales compared to the previous year. The Spectrum segment also saw improved profitability, reporting adjusted EBITDA of $1.7 million, a $2 million year-over-year improvement. Despite challenges, INNOVATE remains optimistic, pointing to a robust DBM backlog of $1.1 billion and strategic efforts to optimize capital structure and explore strategic alternatives for non-cash flowing assets.Strong Growth in Life Sciences
R2 posted worldwide top line sales of $5.7 million, a record high. Year-to-date sales grew 217% compared to the same period last year, and system unit sales worldwide saw a massive increase of 416% from third quarter '23 to third quarter '24.
Improved Margins in DBM Global
DBM Global achieved a gross margin improvement year-over-year of approximately 360 basis points to 18.8% and adjusted EBITDA year-over-year by approximately 70 basis points to 9%.
Spectrum Segment Profitability
Spectrum achieved adjusted EBITDA of $1.7 million in the third quarter, a $2 million improvement year-over-year. Year-to-date, Spectrum has delivered $4.8 million in adjusted EBITDA, a significant increase compared to $900,000 through the first 9 months of 2023.
Expansion and Brand Awareness for R2
R2 expanded its international footprint and saw significant growth in brand awareness, evidenced by a 4,086% increase in social mentions and a 498% increase in web users.
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VATE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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VATE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $5.14 | $5.16 | +0.39% |
| Aug 07, 2024 | $5.65 | $5.25 | -7.08% |
| May 07, 2024 | $7.40 | $7.07 | -4.46% |
| Mar 04, 2024 | $7.18 | $8.70 | +21.17% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does INNOVATE Corp (VATE) report earnings?
INNOVATE Corp (VATE) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is INNOVATE Corp (VATE) earnings time?
INNOVATE Corp (VATE) earnings time is at Mar 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VATE EPS forecast?
Currently, no data Available
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