Icahn Enterprises Q4 Sales Beat Estimates, EBITDA Rises to $281M, $0.50 Distribution
Icahn Enterprises reported Q4 sales of $2.17 billion, beating estimates, and adjusted EBITDA rose to $281 million from $16 million a year ago with net income of $1 million versus a $98 million loss. NAV declined by $654 million to $3.2 billion, and quarterly distribution of $0.50 was declared.
1. Q4 Financial Performance
Icahn Enterprises generated $2.17 billion in fourth-quarter revenue, surpassing consensus estimates by $20 million. Adjusted EBITDA soared to $281 million from $16 million a year earlier, while net income attributable to the partnership turned positive at $1 million compared to a $98 million loss in Q4 2024.
2. Net Asset Value Update
The partnership’s indicative net asset value fell by $654 million to $3.2 billion as of December 31, 2025. The NAV decline was primarily driven by a $778 million reduction in its long position in CVI and $75 million of holding-company net interest expense, partially offset by $261 million of positive fund performance.
3. Liquidity and Asset Position
Icahn Enterprises ended the quarter with $1.450 billion in cash and equivalents and inventories valued at $845 million, supporting operating flexibility. The balance sheet reflects the firm’s ability to maintain liquidity amid asset revaluation and expense volatility.
4. Distribution Declaration
The firm declared a quarterly distribution of $0.50 per depositary unit on February 23, payable April 15 to unitholders of record as of March 9. This marks the continuation of its regular payout strategy targeting income distributions for investors.