Icahn Enterprises Q3 posts net loss on impairment charges
IEP•Icahn Enterprises reported a Q3 net loss of $225 million, despite revenue rising to $3.20 billion. Results included $165 million in impairment expenses and $522 million in refining hedge losses; the company declared a $0.50-per-unit distribution.
1. Quarterly results
Icahn Enterprises reported Q3 revenue of $3.20 billion and a net loss of $225 million. Income per limited partnership unit was a loss of $0.31.
2. Losses and asset value
The company said $522 million in refining hedge losses in its Investment Funds negatively affected net loss and adjusted EBITDA, which swung to a loss. Q3 results also included $165 million in impairment expenses. Indicative net asset value rose $865 million from the prior quarter, with a $1.7 billion contribution from the increase in value of its long position in CVR Energy.
3. Distribution
Icahn Enterprises declared a Q3 distribution of $0.50 per depositary unit, payable December 23, 2026.
