See more : Hong Kong ChaoShang Group Limited (2322.HK) Income Statement Analysis – Financial Results
Complete financial analysis of INNOVATE Corp. (VATE) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of INNOVATE Corp., a leading company in the Engineering & Construction industry within the Industrials sector.
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INNOVATE Corp. (VATE)
About INNOVATE Corp.
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.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.42B | 1.64B | 1.21B | 1.01B | 1.81B | 1.98B | 1.63B | 1.56B | 1.12B | 543.20M | 230.69M | 260.55M | 989.26M | 764.95M | 815.55M | 895.86M | 902.18M | 1.01B | 1.19B | 1.35B | 1.29B | 1.02B | 1.08B | 1.20B | 832.74M | 421.63M | 280.20M | 172.97M |
| Cost of Revenue | 1.21B | 1.42B | 1.02B | 838.50M | 1.53B | 1.78B | 1.42B | 1.38B | 984.87M | 471.49M | 220.32M | 125.26M | 695.74M | 488.61M | 533.71M | 569.87M | 554.89M | 663.83M | 784.83M | 821.46M | 786.31M | 668.64M | 767.84M | 861.18M | 624.60M | 353.02M | 252.73M | 158.85M |
| Gross Profit | 216.00M | 221.40M | 183.70M | 167.30M | 279.30M | 194.20M | 212.36M | 180.90M | 135.94M | 71.72M | 10.37M | 135.29M | 293.52M | 276.34M | 281.85M | 326.00M | 347.30M | 347.64M | 402.57M | 529.42M | 501.47M | 355.41M | 314.63M | 338.24M | 208.14M | 68.61M | 27.47M | 14.13M |
| Gross Profit Ratio | 15.18% | 13.52% | 15.24% | 16.63% | 15.42% | 9.82% | 13.00% | 11.61% | 12.13% | 13.20% | 4.50% | 51.92% | 29.67% | 36.12% | 34.56% | 36.39% | 38.50% | 34.37% | 33.90% | 39.19% | 38.94% | 34.71% | 29.07% | 28.20% | 24.99% | 16.27% | 9.80% | 8.17% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 0.00 | 0.00 | 0.00 | 181.10M | 190.10M | 0.00 | 291.58M | 153.07M | 111.96M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -108.70M | -179.00K | -3.43M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 168.00M | 180.10M | 168.30M | 181.10M | 190.10M | 218.40M | 182.88M | 152.89M | 108.53M | 81.40M | 34.69M | 102.76M | 214.59M | 198.20M | 198.75M | 260.43M | 284.02M | 287.61M | 381.38M | 394.05M | 342.35M | 254.15M | 303.03M | 330.41M | 199.58M | 79.53M | 50.62M | 20.11M |
| Other Expenses | 0.00 | 27.90M | 26.00M | -23.20M | 1.20M | 78.70M | -12.77M | -2.84M | -6.82M | 4.62M | 12.03M | 31.02M | 51.51M | 65.28M | 51.88M | 26.76M | 23.90M | 74.68M | 87.73M | 92.74M | 22.40M | 82.24M | 157.60M | 120.70M | 54.96M | 24.19M | 6.73M | 2.16M |
| Operating Expenses | 189.50M | 208.00M | 194.30M | 157.90M | 191.30M | 250.00M | 213.49M | 177.38M | 131.81M | 86.01M | 46.72M | 133.78M | 266.09M | 263.48M | 250.62M | 287.19M | 307.91M | 362.29M | 469.11M | 486.79M | 364.75M | 336.39M | 460.62M | 451.11M | 254.54M | 103.72M | 57.36M | 22.28M |
| Cost & Expenses | 1.40B | 1.62B | 1.22B | 996.40M | 1.72B | 2.03B | 1.64B | 1.55B | 1.12B | 557.50M | 267.04M | 259.05M | 961.83M | 752.09M | 784.33M | 857.06M | 862.80M | 1.03B | 1.25B | 1.31B | 1.15B | 1.01B | 1.23B | 1.31B | 879.14M | 456.73M | 310.09M | 181.12M |
| Interest Income | 0.00 | 52.00M | 59.10M | 74.80M | 76.10M | 0.00 | 0.00 | 0.00 | 0.00 | 436.00K | 8.00K | 86.00K | 169.00K | 741.00K | 960.00K | 120.00K | 5.70M | 3.69M | 2.61M | 11.62M | 1.08M | 2.45M | -19.95M | 29.39M | 0.00 | 11.50M | 0.00 | 785.00K |
| Interest Expense | 68.20M | 52.00M | 59.10M | 79.40M | 79.50M | 75.70M | 55.10M | 43.38M | 39.02M | 12.35M | 234.00K | 24.14M | 32.51M | 35.49M | 31.46M | 53.89M | 61.35M | 54.17M | 53.44M | 50.53M | 60.73M | 68.30M | 100.70M | 132.14M | 0.00 | 40.05M | 0.00 | 857.00K |
| Depreciation & Amortization | 36.00M | 42.20M | 37.60M | 26.80M | 31.50M | 51.50M | 36.57M | 28.86M | 30.94M | 8.97M | 23.96M | 31.02M | 65.15M | 68.40M | 51.69M | 32.80M | 30.59M | 48.16M | 87.73M | 92.74M | 86.07M | 82.38M | 157.80M | 121.06M | 55.32M | 24.55M | 6.73M | 2.16M |
| EBITDA | 69.80M | 53.10M | 16.00M | 54.90M | 65.80M | 309.50M | 51.92M | 26.45M | 23.33M | -11.52M | -1.08M | 17.01M | 4.74M | 82.00M | 84.06M | 61.61M | 53.49M | -130.80M | -12.66M | 138.59M | 155.21M | 78.52M | -514.50M | 8.19M | 8.92M | -10.56M | -23.56M | -5.99M |
| EBITDA Ratio | 4.91% | 2.33% | 1.35% | 7.41% | 6.14% | 3.54% | 2.48% | 2.31% | 2.25% | -0.28% | -5.37% | 12.52% | 9.35% | 10.72% | 10.31% | 8.01% | 5.93% | 20.76% | 4.54% | 10.61% | 12.35% | 11.01% | 51.55% | 0.68% | 1.07% | -2.50% | -8.41% | -3.26% |
| Operating Income | 29.20M | 13.40M | -9.10M | 77.70M | 95.80M | -55.80M | -1.13M | -1.42M | 2.23M | -14.43M | -39.14M | -8.66M | 12.75M | 12.66M | 31.08M | 38.81M | 31.28M | -212.85M | -79.92M | 39.06M | 69.63M | -3.32M | -672.30M | -112.87M | -46.40M | -35.11M | -29.89M | -8.15M |
| Operating Income Ratio | 2.05% | 0.82% | -0.76% | 7.73% | 5.29% | -2.82% | -0.07% | -0.09% | 0.20% | -2.66% | -16.97% | -3.32% | 1.29% | 1.65% | 3.81% | 4.33% | 3.47% | -21.04% | -6.73% | 2.89% | 5.41% | -0.32% | -62.11% | -9.41% | -5.57% | -8.33% | -10.67% | -4.71% |
| Total Other Income/Expenses | -63.60M | -54.50M | -70.10M | -18.40M | -117.10M | 238.10M | -38.65M | -44.37M | -47.34M | -20.56M | 14.08M | -19.29M | -39.95M | -13.57M | 427.04M | -63.88M | -31.50M | -27.51M | -68.48M | -43.74M | -10.55M | -23.93M | -120.65M | -102.75M | -66.34M | -28.54M | -6.21M | -417.00K |
| Income Before Tax | -34.40M | -41.10M | -80.70M | -27.80M | -37.10M | 182.30M | -39.75M | -45.79M | -46.62M | -33.89M | -25.05M | -50.36M | -27.20M | -19.43M | 472.86M | -25.07M | 229.00K | -241.65M | -150.38M | -4.68M | 59.64M | -63.90M | -792.95M | -215.62M | -112.74M | -63.65M | -36.16M | -8.57M |
| Income Before Tax Ratio | -2.42% | -2.51% | -6.70% | -2.76% | -2.05% | 9.22% | -2.43% | -2.94% | -4.16% | -6.24% | -10.86% | -19.33% | -2.75% | -2.54% | 57.98% | -2.80% | 0.03% | -23.89% | -12.66% | -0.35% | 4.63% | -6.24% | -73.25% | -17.98% | -13.54% | -15.10% | -12.90% | -4.95% |
| Income Tax Expense | 4.50M | 900.00K | 5.60M | 10.50M | -20.30M | 2.40M | 10.74M | 51.64M | -10.88M | -24.48M | -7.44M | -4.52M | 869.00K | -9.09M | -6.13M | -366.00K | -9.23M | 4.87M | 4.00M | 5.90M | 5.77M | -3.60M | -486.77M | -40.95M | 0.00 | 0.00 | 81.00K | 196.00K |
| Net Income | -37.60M | -40.80M | -79.80M | -46.40M | -17.60M | 139.00M | -49.70M | -105.40M | -39.83M | -16.29M | -17.61M | -44.85M | -38.73M | -19.09M | 477.89M | -25.03M | 15.74M | -237.96M | -154.38M | -10.58M | 54.76M | -34.60M | -306.18M | -174.66M | -112.74M | -63.65M | -36.24M | -8.76M |
| Net Income Ratio | -2.64% | -2.49% | -6.62% | -4.61% | -0.97% | 7.03% | -3.04% | -6.76% | -3.55% | -2.98% | -7.63% | -14.80% | -3.92% | -2.50% | 58.60% | -2.79% | 1.74% | -23.53% | -13.00% | -0.78% | 4.25% | -3.38% | -28.28% | -14.56% | -13.54% | -15.10% | -12.93% | -5.07% |
| EPS | -4.78 | -5.26 | -10.35 | -9.22 | -3.93 | 29.00 | -11.61 | -28.26 | -15.04 | -8.26 | -12.54 | -3.24 | -2.98 | -1.96 | 6.27 | -0.18 | 0.12 | -2.11 | -1.62 | -0.12 | 0.77 | -0.54 | -5.72 | -4.39 | -3.71 | -2.60 | -1.99 | -0.63 |
| EPS Diluted | -4.78 | -5.26 | -10.35 | -9.22 | -3.93 | 29.70 | -11.61 | -28.30 | -15.04 | -8.26 | -12.54 | -3.24 | -2.98 | -1.96 | 5.22 | -0.18 | 0.09 | -2.11 | -1.62 | -0.12 | 0.54 | -0.54 | -5.72 | -4.39 | -3.71 | -2.60 | -1.99 | -0.63 |
| Weighted Avg Shares Out | 7.87M | 7.75M | 7.71M | 5.03M | 4.48M | 4.79M | 4.28M | 3.72M | 2.65M | 1.97M | 1.40M | 13.84M | 13.01M | 9.74M | 76.27M | 142.86M | 128.97M | 112.54M | 95.53M | 89.68M | 69.04M | 64.18M | 53.51M | 39.75M | 30.37M | 24.47M | 18.22M | 13.89M |
| Weighted Avg Shares Out (Dil) | 7.87M | 7.75M | 7.71M | 5.03M | 4.48M | 4.68M | 4.28M | 3.73M | 2.65M | 1.97M | 1.40M | 13.84M | 13.01M | 9.74M | 91.60M | 142.86M | 196.77M | 112.54M | 95.53M | 89.68M | 98.15M | 64.18M | 53.51M | 39.75M | 30.37M | 24.47M | 18.22M | 13.89M |
INNOVATE Corp. Announces Rights Offering for Common Stock
NEW YORK, Feb. 26, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE), a diversified holding company, announced today that its Board of Directors (the “Board”) has approved a plan to proceed with and fixed a record...
Glancy Prongay & Murray LLP Announces Investigation of INNOVATE Corp. (VATE)
NEW YORK--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces its investigation of INNOVATE Corp. (NYSE: VATE) concerning the Company and its directors' and officers' possible violations of state laws. If you own INNOVATE stock, would like to learn more about...
INNOVATE Corp. to Report Fourth Quarter and Full Year 2023 Results on March 4th
NEW YORK, Feb. 12, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) announced today that it will release its financial results for the fourth quarter and full year 2023 on Monday, March 4, 2024, after market...
Glancy Prongay & Murray LLP Announces Investigation of INNOVATE Corp. (VATE)
NEW YORK--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces its investigation of INNOVATE Corp. (NYSE: VATE) concerning the Company and its directors' and officers' possible violations of state laws. If you own INNOVATE stock, would like to learn more about...
INNOVATE Corp. (VATE) Q3 2023 Earnings Call Transcript
INNOVATE Corp. (NYSE:VATE ) Q3 2023 Earnings Conference Call November 9, 2023 4:30 PM ET Company Participants Anthony Rozmus - Investor Relations Avie Glazer - Chairman Paul Voigt - Interim Chief Executive Officer Michael Sena - Chief Financial Officer Conference...
INNOVATE Corp. Announces Third Quarter 2023 Results
- Infrastructure: DBM Global achieved third quarter revenue of $369.3 million and once again delivered gross margin expansion versus prior year -
INNOVATE Corp. to Report Third Quarter 2023 Results on November 9th
NEW YORK, Oct. 30, 2023 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) (“INNOVATE” or the “Company”) announced today that it will release its financial results for the third quarter 2023 on Thursday, November 9, 2023 after market close. The Company...
Glancy Prongay & Murray LLP Announces Investigation of INNOVATE Corp. (VATE)
NEW YORK--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces its investigation of INNOVATE Corp. (NYSE: VATE) concerning the Company and its directors' and officers' possible violations of state laws. If you own INNOVATE stock, would like to learn more about...
Why Chris DeMuth Jr. Likes Activision, Oil & Gas + Innovate
Chris DeMuth Jr. discusses his investment approach, focusing on mispriced securities. His thoughts on current market conditions, highlighting investment interests in energy and potential opportunities in Activision.
INNOVATE Corp. (VATE) Q2 2023 Earnings Call Transcript
INNOVATE Corp. (NYSE:VATE ) Q2 2023 Earnings Conference Call August 9, 2023 4:30 PM ET Company Participants Anthony Rozmus - IR Avie Glazer - Chairman Paul Voigt - Interim CEO Mike Sena - CFO Conference Call Participants Brian Charles -...
Source: https://incomestatements.info
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