INNOVATE (NYSE:VATE) Issues Earnings Results

Key Points

• INNOVATE Corp. reported a quarterly earnings per share (EPS) of ($1.67), reflecting ongoing challenges for the company.
• Shares of INNOVATE (NYSE:VATE) rose by 11.4% to $5.97, with a trading volume significantly higher than its average.
• The company operates in infrastructure, life sciences, and spectrum areas across the United States, offering a range of construction services, including structural steel and facility maintenance.

INNOVATE (NYSE:VATE - Get Free Report) announced its earnings results on Tuesday. The company reported ($1.67) EPS for the quarter, Zacks reports. The company had revenue of $242.00 million for the quarter.

INNOVATE Trading Up 13.3%

VATE traded up $0.61 during trading on Friday, hitting $5.16. The stock had a trading volume of 63,002 shares, compared to its average volume of 24,854. The firm has a market cap of $68.77 million, a PE ratio of -0.85 and a beta of 1.81. INNOVATE has a 12 month low of $3.25 and a 12 month high of $13.79. The company has a 50 day simple moving average of $5.49 and a 200-day simple moving average of $7.25.

INNOVATE Company Profile

INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. The Infrastructure segment provides industrial construction, structural steel, and facility maintenance services, such as fabrication and erection of structural steel and heavy steel plate services, and large-diameter water pipes and water storage tanks; fabrication of trusses and girders; and 3-D building information modeling and detailing for 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.