ICAHN ENTERPRISES L.P., commonly referred to as IEP, is a diversified holding company engaged in eight primary business segments: Investment, Automotive, Energy, Gaming, Mining, Food Packaging, Metals, and Real Estate. The company is named after its founder, Carl Icahn, a renowned American business magnate and investor. Since its inception, IEP has built a strong reputation for its innovative business approaches and strategic investments that are driven by a commitment to delivering outstanding results.
Established in 1987 and headquartered in New York, ICAHN ENTERPRISES is influential in the American business landscape, wielding substantial control over some companies through majority ownership. As of 2021, IEP has substantial or controlling interests in many companies, ranging from auto parts maker Pep Boys to casino operator Tropicana Entertainment. Directly and indirectly, through various subsidiaries, Icahn Enterprises also holds investments in Herbalife, Caesars Entertainment, and many other companies.
The company's philosophy is rooted in the strong belief of value investing, which involves buying stocks deemed undervalued by some form of fundamental analysis. IEP's considerable success has proven the effectiveness of this approach, with the company achieving significant gains on its investments.
IEP's Investment segment, consisting of various asset classes including equity, leveraged loans, and a range of other investments, serves as the core base of Icahn Enterprises' operations. Beyond this, the Automotive segment operates through IEP's majority-owned subsidiary, Federal-Mogul LLC, a leading global supplier of quality products to the automotive industry.
The Energy segment, on the other hand, focuses on the exploration, production, and transportation of oil and gas through another major subsidiary, CVR Energy. Meanwhile, the Real Estate segment consists of rental real estate, property development, and resort activities.
In the Food Packaging segment, the company makes and sells cellulosic, fibrous, and plastic casings for the processed meat and poultry industry through its ownership in Viskase Companies, Inc. The Metals segment operates through PSC Metals, Inc., a full-service ferrous and non-ferrous metal recycling company.
With decades of industry experience and success, IEP maintains a keen focus on its strategy of acquiring undervalued assets and improving their operational performance for increased return on investment. This strategy, combined with the depth of experience that comes from diverse portfolio businesses, sets Icahn Enterprises apart from other, similar investment entities.
With Carl Icahn at the helm, who is often described as a 'corporate raider' for his aggressive investment strategies, Icahn Enterprises continues to remain an influential force in the global business community, offering investors diversified exposure to various industry sectors through its unique business model.
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Icahn Enterprises reported a net loss of $225 million for Q3 2026, a reversal from a profit in the prior year, despite a rise in revenue to $3.17 billion. The company's adjusted EBITDA swung to a $214 million loss due to significant refining-hedge losses. Despite the quarterly loss, Icahn Enterprises maintained its $0.50 quarterly distribution, and its subsidiary CVR Energy announced a $4.2 billion acquisition of two refineries.
Icahn Enterprises L.P. reported a Q3 NAV increase of $865 million, driven by a $1.7 billion rise in CVI's value, despite a net loss of $225 million for the quarter. The Energy segment's adjusted EBITDA surged to $404 million, while the Automotive segment saw a $215 million pre-tax gain from selling Pep Boys. The company is addressing senior notes maturing in 2027 and maintains $2.3 billion in liquidity.
Icahn Enterprises (IEP) is scheduled to release its Q3 2026 earnings before market open on Thursday, October 29th, with analysts projecting earnings of $0.09 per share and revenue of $2.33 billion. The company's previous quarter significantly missed earnings expectations but exceeded revenue estimates. IEP shares are trading near their 12-month low at $6.15, while maintaining a high dividend yield of 32.5%, and analysts currently rate the stock a "Sell."
Icahn Enterprises (NASDAQ:IEP) stock has fallen below its 200-day moving average, trading as low as $6.60, and is currently rated "Sell" by analysts. The company reported a quarterly EPS loss of $0.52, missing estimates, despite revenues of $2.98 billion, and maintains a $0.50 quarterly dividend. Institutional investors have made various changes to their positions in IEP, with Bank of America Corp DE significantly increasing its stake.
Icahn Enterprises LP reported a Q2 2026 NAV decrease of $765 million, primarily due to declines in its investment funds and CVI, though July saw an NAV increase of $268 million. The company entered a definitive agreement to sell Pep Boys for $700 million, expected to close in Q3, which will enhance financial flexibility and help manage debt maturities. Despite challenges in some segments, the company maintains significant liquidity with $2.4 billion in cash and investments.