Earnings Releases·Nov 3, 2026, 8:11 AM ET

Icahn Enterprises L.P. — Third Quarter 2026 Earnings Summary

Q3 2026 revenues rose to $3.2 billion from $2.7 billion in the prior year period, while net loss widened to $225 million ($0.31/unit) from a $287 million net income in Q3 2025; Adjusted EBITDA shifted to a $214 million loss from $75 million profit, driven by $522 million in refining hedge losses.
The CVR Energy acquisition of two refineries and a marketing platform for $4.2 billion is projected to increase nine-month pro forma EBITDA to $2.0 billion and boost earnings per share to $7.80, representing over 105% accretion with $75 million in estimated annual synergies.
Icahn Automotive Group completed the sale of Pep Boys for $700 million ($645 million proceeds) while retaining AAMCO and PTAC franchises; total debt decreased to $6.4 billion and cash increased to $2.3 billion as of September 30, 2026.
The Board declared a $0.50 per depositary unit distribution for Q3 2026, marking the 86th consecutive quarterly payout, with no specific forward guidance or growth targets provided.