Icahn Enterprises L P

Icahn Enterprises delivered a mixed fourth quarter for fiscal 2025, posting a narrow return to profitability while falling short on earnings per unit but clearing the bar on revenue by a wide margin. The diversified holding company reported EPS of $0.00, missing the consensus estimate of $0.12 by 100.00%, yet revenues of $2.70 billion beat expectations of $2.27 billion by 19.03% and rose 4.4% year over year from $2.56 billion. The most material driver behind the revenue beat was a $333.00 million net gain from investment activities, a dramatic reversal from the $103.00 million net loss recorded in the year-ago period, which helped lift Q4 adjusted EBITDA attributable to IEP to $281.00 million from just $16.00 million. Still, net sales in the operating businesses declined to $2.17 billion from $2.37 billion, pointing to continued softness in segments like energy and automotive, and analysts have maintained cautious ratings on the stock following the EPS shortfall. The board declared a quarterly distribution of $0.50 per depositary unit, payable April 15, 2026.