HC2 Holdings, Inc.
New York Stock ExchangeCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Philip Falcone
- Full Time Employees
- 2,803
- Sector
- Communication Services
- Industry
- Telecommunications Services
- Address
- 450 Park Ave Fl 30 New York City NY United States of America
- IPO Date
- Jun 23, 2011
- CIK
- 0001006837
- Website
- hc2.com
- Similar Companies
- Business
- HC2 Holdings, Inc. (NYSE: HCHC), now operating as INNOVATE Corp. following its rebranding in September 2021, is a diversified holding company that owns and operates subsidiaries across infrastructure, life sciences, and spectrum segments. The Infrastructure segment, through DBM Global Inc., provides fully integrated industrial construction services, including design-assist, modularization, fabrication and erection of structural steel and heavy steel plate, trusses and girders, heavy equipment installation, facility maintenance and shutdowns, pressure vessels, strainers, filters, and separators; the Life Sciences segment, via Pansend Life Sciences LLC and affiliates including R2 Technologies and MediBeacon, develops healthcare and biotechnology products such as the FDA-cleared Glacial Rx CryoAesthetic treatment for skin aging and inflammation, and the Transdermal GFR System (TGFR) for point-of-care kidney function assessment; the Spectrum segment, through HC2 Broadcasting Holdings Inc. and subsidiaries, owns and operates over-the-air broadcast television stations across 106 U.S. markets, encompassing 256 stations and 2.3 billion MHz POPs of spectrum. Founded in 1994 and headquartered in New York, New York, the company targets general contractors, engineering firms, healthcare providers, biotechnology developers, broadcasters, and related industries primarily in the United States. Recent major developments include DBM Global's completion of the $145 million acquisition of Banker Steel Holdco LLC in May 2021, enhancing its East Coast structural steel operations and backed by a new $110 million term loan and revolving credit facility, alongside over $800 million in backlog at the time; divestiture of the insurance segment to Continental General Holdings LLC for approximately $90 million in cash and securities to sharpen focus on core segments; sale of the Global Marine Group to J.F. Lehman & Company affiliates for $250 million around 2020; and a $15 million Series C investment in R2 Technologies in 2021 to accelerate commercialization of Glacial Rx, with Pansend Life Sciences as a key stakeholder. In 2023, HC2 sold its majority-owned clean energy subsidiary Beyond6, Inc. to Mercuria Investments US, Inc. for about $70 million in cash to reduce debt and prioritize high-growth areas; more recently, as INNOVATE Corp., it received FDA approval for MediBeacon's TGFR system and announced dividends from DBM Global, including $8.8 million in October 2025 and $1.42 per share earlier, reflecting ongoing portfolio optimization and revenue growth, with Q3 2025 revenues surging 43% year-over-year to $347.1 million. These strategic shifts underscore a focus on infrastructure strength, life sciences innovation, and spectrum assets amid evolving market dynamics.
HC2 Holdings Adopts Tax Benefits Preservation Plan to Protect Tax Attributes and Stockholder Value
HC2 Holdings Portfolio Company DBM Global Inc. to Pay Cash Dividend
HC2 Holdings, Inc.'s (HCHC) CEO Wayne Barr on Q2 2021 Results - Earnings Call Transcript
HC2 Holdings Provides $15 Million Series C Investment to Portfolio Company R2 Technologies
HC2 Holdings, Inc. Announces New Name, INNOVATE Corp.
HC2 Holdings (HCHC) Completes Insurance Segment Divestment
HC2 Holdings Completes Sale of Continental Insurance Business for $90 Million
HC2 Holdings (HCHC) Unit Buys Banker Steel, Enters Credit Agreement
Atlas Holdings Completes Sale of Banker Steel
beIN SPORTS & HC2 Reinforce Partnership as Live OTA Sports Channels Expand to New Markets
HC2 Stock Tumbles After Q1 Earnings Miss, Decline In Spectrum Revenue
HC2 Holdings, Inc. (HCHC) CEO Wayne Barr on Q1 2021 Results - Earnings Call Transcript
HC2 Holdings to Report First Quarter 2021 Results on May 7
HC2 Holdings Portfolio Company R2 Technologies Disrupts the Aesthetics Industry with Launch of Its Groundbreaking Glacial Rx™ Treatment
HC2 Holdings, Inc.'s (HCHC) CEO Wayne Barr on Q4 2020 Results - Earnings Call Transcript
Earnings Preview: HC2 Holdings (HCHC) Q4 Earnings Expected to Decline
HC2 Holdings Portfolio Company R2 Technologies Receives Final Tranche of $30 Million Investment
HC2 Holdings Simplification Process Could Lead To Rerate
HC2 Holdings Announces Upsizing and Pricing of $330 Million Senior Secured Notes Offering
HC2 Holdings Announces Launch of $300 Million Senior Secured Notes Offering and Concurrent Convertible Notes Exchange