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INNOVATE Corp ( (VATE) ) has issued an update.
INNOVATE Corp. announced its fourth quarter and full year 2024 financial results, highlighting significant developments across its segments. The infrastructure segment reported a decrease in revenue due to project timing, while the life sciences segment achieved a major milestone with FDA approval for MediBeacon’s TGFR system. The broadcasting segment experienced double-digit revenue growth, driven by new network launches and expanded coverage. Despite a decline in overall revenue, the company reduced its total debt by $54.5 million, positioning itself favorably for future projects.
More about INNOVATE Corp
INNOVATE Corp. operates in various sectors including infrastructure, life sciences, and broadcasting. Its primary products and services include structural steel fabrication and erection, medical technology for kidney function assessment, and broadcasting networks. The company focuses on expanding its market presence in these industries.
YTD Price Performance: 63.20%
Average Trading Volume: 670,756
Technical Sentiment Signal: Buy
Current Market Cap: $108.2M
Learn more about VATE stock on TipRanks’ Stock Analysis page.