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) issued its quarterly earnings data on Tuesday. The company reported ($1.67) earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $242.00 million for the quarter.

INNOVATE Trading Down 21.2%

NYSE:VATE traded down $1.21 during trading hours on Thursday, hitting $4.48. The stock had a trading volume of 83,690 shares, compared to its average volume of 285,562. INNOVATE has a 1-year low of $3.25 and a 1-year high of $13.79. The business has a 50 day simple moving average of $5.53 and a two-hundred day simple moving average of $7.29. The company has a market cap of $59.43 million, a PE ratio of -0.74 and a beta of 1.81.

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.