Innovate (VATE) Earnings Report, Financial Results, Financial analysis

Innovate Corp narrowed first quarter of 2023 net loss per share of $-0.13 compare to net loss per share of $-0.18 recorded in the same quarter a year ago a decrease compare to $-0.09 realized in previous quarter.

*first quarter of 2023*
Earnings Per Share	Revenues
$ -0.13	$ 318 Mill
$+0.05	$-95M -22.99 %

Innovate 's Revenue fell by -22.99 % in first quarter of 2023 (Mar 31 2023) year on year, to $318 million and declined by -22.33 % sequentially.

Innovate is Expected to report next financial results on August 02, 2023.

More on VATE's Income Statement

VATE's NET INCOME

Innovate 's in thefirst quarter of 2023 recorded net loss of $-8.000 million, an improvement compare to net loss of $-14.100 million in I. Quarter a year ago.

Sequentially net loss advanced

More on VATE's Growth

Innovate Inventories
Inventories grew by 9.23 % to $21 million from I. Quarter a year ago, sequentially inventories rose by 12.7 %. In Mar 31 2023 company's net cash and cash equivalents decreased by $-64 million, capital expenditures grew by -19.57%, to $-4 millions compare to same quarter a year ago and rose by -15.91% from IV. Quarter (Dec 31 2022).

More on VATE's Cash flow Statement

Earnings quality

Innovate Corp payed out dividend of $0.07 per share in last 52 weeks

In trailing twelve-month period Innovate Corp payed $ -0.30 cash per share, on a free-cash flow basis .

Tangible Book value fell to $ -5.55 per share from $ -5.30.

Company issued 0.72 million shares or 0.93 % in Mar 31 2023.
Interest Coverage Ratio was 0.15. Debt Coverage Ratio was 0.01.

• More on VATE's Dividends

Market Capitalization (Millions)	120
Shares Outstanding (Millions)	78
Total Debt (Millions $)	697
Revenue (TTM) (Millions $)	1,542
Net Income (TTM) (Millions $)	-36
Cash Flow (TTM) (Millions $)	-10
Capital Exp. (TTM) (Millions $)	-20
Dividend TTM ($)	0.07 $
Dividend Yield TTM (%)	3.87 %
Employees (TTM) $	-

Earnings quality

Innovate Corp payed out dividend of $0.07 per share in the last 52 weeks

In trailing twelve-month period Innovate Corp had negative $ -0.30 cash flow per share, on a free-cash flow basis .

Tangible Book value fell to $ -5.55 per share from $ -5.30.

Company issued 0.72 million shares or 0.93 % in Mar 31 2023.
Interest Coverage Ratio was 0.15. Debt Coverage Ratio was 0.01.

• More on VATE's Balance Sheets

Market Capitalization (Millions)	120
Shares Outstanding (Millions)	78
Total Debt (Millions $)	697
Revenue (TTM) (Millions $)	1,542
Net Income (TTM) (Millions $)	-36
Cash Flow (TTM) (Millions $)	-10
Capital Exp. (TTM) (Millions $)	-20
Dividend TTM ($)	0.07 $
Dividend Yield TTM (%)	3.87 %
Employees (TTM) $	-

Innovate Corp

VATE's Financial Statements and Analysis