INNOVATE
Operating a diversified portfolio of construction, life-sciences and broadcasting platforms.
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Profile
A holding-company portfolio combines DBM Global's industrial-construction, structural-steel and facilities-maintenance services with Pansend Life Sciences investments and HC2 Broadcasting's U.S. over-the-air stations. DBM Global is the main operating anchor, while a sale process shapes the Spectrum platform.
A holding-company portfolio spans Infrastructure, Life Sciences and Spectrum. Infrastructure is anchored by DBM Global, which provides industrial construction, structural-steel and facilities-maintenance services. Pansend Life Sciences holds life-sciences investments, while HC2 Broadcasting operates over-the-air stations across the United States.
DBM Global is the portfolio's industrial operating anchor, where INNOVATE holds a controlling interest. The group evolved from international telecommunications into this portfolio model; the Spectrum platform carries a financing dependency, with management pursuing a sale of HC2 Broadcasting after a strategic-process milestone was missed and reporting progress against the related milestones.
Company facts
Key statistics
Year to date +46.7% · Average volume (30d) 703.5K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$2.18 | $0.71 | +132.5% | $251.7M | $421.6M | +67.5% | +63.43% |
| May 14, 2026Q1 FY26 | −$2.18 | −$1.29 | +40.9% | $251.7M | $364.8M | +44.9% | −8.73% |
| Mar 26, 2026Q4 FY25 | −$0.99 | −$0.58 | +41.6% | $284.8M | $382.7M | +34.4% | +13.90% |
| Nov 12, 2025Q3 FY25 | — | −$0.71 | — | — | $347.1M | — | +2.38% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $274.2M | $242.0M | $347.1M | $382.7M | $364.8M | $421.6M | |
| Gross profit | $41.1M | $45.6M | $45.4M | $54.5M | $49.3M | $79.5M | |
| Operating income | $4.4M | $4.9M | $7.1M | $15.2M | $11.1M | $34.5M | |
| Net income | −$24.5M | −$19.8M | −$8.9M | −$7.4M | −$16.8M | $10.7M | |
| Diluted EPS | −$1.89 | −$1.67 | −$0.71 | −$0.58 | −$1.29 | $0.71 | |
| Gross margin | 15.0% | 18.8% | 13.1% | 14.2% | 13.5% | 18.9% | |
| Operating margin | 1.6% | 2.0% | 2.0% | 4.0% | 3.0% | 8.2% |
Fiscal years (4-quarter sums)FY21 $1.21B · FY22 $1.64B · FY23 $1.42B · FY24 $1.11B · FY25 $1.25B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $87.8M · Total debt $682.4M · Total assets $1.01B · Shareholders' equity −$233.5M
Dividends
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Apr 13, 2026 | Apr 13 | Apr 28 | $0.78 | special dividend |
Ownership
Shares outstanding 13.64M · Float 4.33M · 31.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Avram A. Glazer · director, 10 percent owner: | 2.16M | 15.86% | Form 4 | Aug 13, 2026 |
| Voigt Paul | 1.03M | 7.40% | 13D | Aug 14, 2026 |
| Whitefort Capital Management, LP | 743.0K | 5.45% | 13F | May 15, 2026 |
| Jefferies Financial Group Inc. | 700.8K | 5.14% | 13F | May 8, 2026 |
| Vanguard Capital Management LLC | 224.2K | 1.64% | 13F | May 15, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Fluor
Large-scale project delivery in industrial and infrastructure construction
- EMCOR Group
Electrical, mechanical and facilities services for complex facilities
- Sinclair
Local TV stations, multicast networks and original content
- Gray Media
Local TV stations and digital assets across U.S. markets
- MasTec
Engineering and construction across energy and infrastructure
- E.W. Scripps
Local TV stations, national networks and broadcast spectrum
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| INNOVATE | $7.59 | −0.52% | $103.5M | — | — | 0.1 | +74.2% |
| Fluor | $53.27 | −0.05% | $7.44B | — | 16.5 | 0.5 | +8.8% |
| EMCOR Group | $736.60 | −0.41% | $32.65B | 23.1 | 21.2 | 1.8 | +19.8% |
| Sinclair | $14.43 | +0.45% | $1.00B | 19.0 | 27.8 | 0.3 | +7.1% |
| Gray Media | $4.82 | −0.23% | $471.7M | — | 2.8 | 0.1 | +8.7% |
| MasTec | $244.44 | +1.48% | $19.35B | 38.4 | 21.8 | 1.2 | +23.4% |
| E.W. Scripps | $3.21 | −1.68% | $259.5M | — | — | 0.1 | −9.2% |
| Median | 23.1 | 21.2 | 0.4 | +8.8% |