INNOVATE Q2 Revenue Surges 74% to $421.6 Million on Record Infrastructure Performance

EarningsM&A · Partnership
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Summary · why it matters

INNOVATE Corp. reported second-quarter 2026 revenue of $421.6 million, a 74.2% increase from a year earlier, driven by record results in its Infrastructure segment. Net income attributable to common and participating preferred stockholders reached $10.4 million, or $0.71 per fully diluted share, compared with a net loss of $22 million, or $1.67 per share, in the prior-year quarter. Consolidated adjusted EBITDA rose to $46.3 million from $15.7 million. The Infrastructure segment, led by DBM Global, posted record quarterly revenue of $414 million and adjusted EBITDA of $48.7 million, with reported backlog growing to $1.9 billion and adjusted backlog reaching $2.7 billion. Broadcasting entered a definitive agreement for CONX Corp. to acquire a controlling interest of about 75%, while Life Sciences revenue fell 31.3% to $2.2 million amid weaker R2 sales and liquidity constraints.

Impact on stocks 2

Critical Materials & Supply Chain▲ · 1 stocks
Innovate Corp
VATE
▲ PositiveCapitalrelevance

Q2 revenue surged 74% with net income turnaround and higher EBITDA, reflecting strong financial performance.

Others▲ · 1 stocks
DBM Global Inc
DBMG
▲ PositiveDemandrelevance

Record Infrastructure revenue and backlog growth indicate strong demand for DBM Global's services.

Off-coverage companies 1

CONX Corp.Private▲ Positive
Capitalrelevance

CONX Corp. is acquiring a controlling interest in Broadcasting, a strategic M&A move.

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