INNOVATE Corp. — Third Quarter 2026 Earnings Summary

INNOVATE Corp. reported third-quarter 2026 consolidated revenue of $495.5 million, a 42.8% increase from the prior year, driven primarily by its Infrastructure segment. The company completed the sale of DBM Global to IES Holdings for approximately $413 million in cash and stock, and sold a controlling interest in HC2 Broadcasting to CONX Corp., retaining a 25% stake. Net income attributable to common stockholders rose to $15.8 million in the quarter, compared to a net loss of $9.4 million in the same period last year, largely due to a $32.9 million gain on the sale of the broadcasting interest. Total Adjusted EBITDA for the quarter reached $40.5 million, more than doubling the $19.8 million reported in the previous year.