INNOVATE Q3 revenue jumps on infrastructure segment growth

Reuters
11/13
INNOVATE Q3 revenue jumps on infrastructure segment growth

Overview

  • INNOVATE Q3 revenue rises 43.3% yr/yr, driven by Infrastructure segment growth

  • Co, which has portfolio of assets in infrastructure, life sciences and spectrum, posts Q3 net loss of $9.4 mln vs loss of $15.3 mln yr ago

  • Adjusted EBITDA for Q3 increases to $19.8 mln from $16.8 mln yr/yr

Outlook

  • Company expects MediBeacon's TGFR system to be available in China by year-end

  • Company sees emerging opportunities in datacasting with Spectrum

Result Drivers

  • INFRASTRUCTURE GROWTH - DBM Global's strong revenue growth driven by commercial structural steel fabrication and erection projects

  • REGULATORY APPROVAL - MediBeacon received approval to sell Transdermal GFR System in China, expanding market reach

  • ADVERTISING RECOVERY - Spectrum's Q4 advertising sales show early signs of recovery amid new network launches

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$347.10 mln

Q3 EPS

-$0.71

Q3 Net Income

-$9.40 mln

Q3 Adjusted EBITDA

$19.80 mln

Press Release: ID:nGNX2YZvYw

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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