Q3 Financial Performance: Icahn Enterprises reported third-quarter revenue of $2.32 billion, below analyst expectations of $2.40 billion, but earnings per share of 49 cents exceeded estimates of 14 cents. Adjusted EBITDA rose to $383 million from $183 million year-over-year.
Asset Value and Distribution: The company's indicative net asset value increased by $567 million, and a quarterly distribution of 50 cents per depositary unit was declared, set to be paid on December 24 to unitholders of record as of November 17.
Stock Performance: Shares of Icahn Enterprises rose by 7.40% to $8.71 at the time of publication, reflecting positive market sentiment following the financial results.
Investment Options: Investors interested in purchasing IEP stock can do so through brokerage accounts, with options for buying fractional shares. Those looking to short the stock will need access to an options trading platform or a broker that allows short selling.
IEP
$7.68+Infinity%1D
Analyst Views on IEP
About IEP
Icahn Enterprises L.P. is a diversified holding company, which owns subsidiaries engaged in operating businesses: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion and Pharma. Its Investment segment consists of various private investment funds. It conducts its Energy segment through its majority-owned subsidiary, CVR Energy, Inc. (CVR Energy). The Automotive segment is engaged in providing a full range of automotive repair and maintenance services, along with the sale of any installed parts or materials related to automotive services to its customers, as well as sales of automotive aftermarket parts and retailed merchandise. The Real Estate segment consists of investment properties, which include land, retail, office and industrial properties leased to corporate tenants, the development and sale of single-family homes and the operations of a resort and two country clubs. It conducts its Food Packaging segment through its subsidiary, Viskase Companies, Inc.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
