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INNOVATE Corp (VATE)
NYSE:VATE
Earnings Data
Report Date
May 01, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-2.25Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 31, 2025
|% Change Since: 0.00%
|Next Earnings Date:May 01, 2025
Earnings Call Sentiment|Neutral
The earnings call highlights significant achievements such as FDA approval for MediBeacon, record growth in the R2 segment, and debt reduction success. However, these are countered by declines in infrastructure revenue, decreased overall revenue and EBITDA, and increased net loss. The mixed results indicate challenges alongside notable progress.Company Guidance
During the fourth quarter and full year 2024 earnings call, INNOVATE Corp reported consolidated revenue of $236.6 million and adjusted EBITDA of $15 million for Q4 2024, with full-year figures reaching $1.1 billion in revenue and $71.3 million in adjusted EBITDA. The Life Sciences segment achieved a major milestone with MediBeacon receiving FDA approval for its transdermal GFR systems, while R2 reported record revenues of nearly $10 million for 2024, marking a 197% increase from 2023. Infrastructure segment DBM Global generated $225.7 million in Q4 2024 revenue with adjusted EBITDA of $17.4 million and ended the year with a $1.1 billion adjusted backlog. Spectrum's full-year 2024 revenue grew by 14.2%, with an adjusted EBITDA of $7.1 million. INNOVATE also reduced its total consolidated debt by $54.5 million from the previous year. Management emphasized ongoing strategic efforts to address capital structure challenges and maximize shareholder value.MediBeacon Achieves FDA Approval
MediBeacon received FDA approval for its transdermal GFR systems to assess kidney function, a significant milestone for the Life Sciences segment.
Record Sales Growth in R2 Segment
R2 reported record top line revenues of almost $10 million for 2024, a 197% increase over 2023, driven by system unit sales in North America with 238% growth year-over-year.
Spectrum's Financial and Operational Growth
Spectrum's fourth quarter revenue grew 19.3% year-over-year, with adjusted EBITDA more than doubling compared to last year, showcasing significant operational improvements.
New Projects and Backlog Growth for DBM Global
DBM Global added over $500 million to its adjusted backlog with new projects, showing optimism for future performance despite a challenging year-end.
Debt Reduction Success
Total consolidated debt decreased by $54.5 million compared to last year, indicating effective financial management and improved working capital.
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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 |
|---|---|---|---|
| Mar 31, 2025 | $7.83 | ― | ― |
| 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% |
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 May 01, 2025, TBA Not Confirmed.
What is INNOVATE Corp (VATE) earnings time?
INNOVATE Corp (VATE) earnings time is at May 01, 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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