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/Mis Actual Consensu

s s

Estimate

Q3 $347.10

Revenue mln

Q3 EPS -$0.71

Q3 Net -$9.40

Income mln

Q3 $19.80

Adjusted mln

EBITDA

Press Release:

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(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.)