INNOVATE Corp. Reports Revenue Growth Amid Challenges
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INNOVATE Corp (VATE) reported Q3 earnings with revenue growth to $347.1 million, up from $242.2 million year-over-year. Despite this increase, the company faced a net loss of $9.6 million, an improvement from a $16.2 million loss last year. The infrastructure segment is the largest revenue contributor, but challenges include upcoming debt maturities and cross-default provisions. Management is considering asset sales and capital raising to mitigate these issues, though success is uncertain.
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