Welcome to our dedicated page for Icahn Enterprises news (Ticker: IEP), a resource for investors and traders seeking the latest updates and insights on Icahn Enterprises stock.
Icahn Enterprises L.P. (NASDAQ: IEP) is a diverse holding company based in the United States, operating across multiple industries. As a master limited partnership headquartered in Sunny Isles Beach, Florida, the company is involved in various sectors such as Investment, Automotive, Energy, Railcar, Mining, Food Packaging, Metals, Real Estate, and Home Fashion. Among these, the Energy segment is its largest revenue generator, predominantly serving the U.S. market.
Founded by renowned investor Carl C. Icahn, Icahn Enterprises leverages an activist investment philosophy. The company focuses on creating value through strategic investment and operational improvements. Its diverse portfolio enables it to mitigate risks while maximizing returns.
In recent achievements, Icahn Enterprises announced a strong financial performance for the three months ending September 30, 2023, with revenues of $3.0 billion and an adjusted EBITDA of $272 million. Despite a net loss of $6 million for the period, this was a substantial improvement compared to previous quarters. This growth was driven by gains in its energy and investment segments.
The company is also notable for its substantial involvement in the automotive industry, although it recently faced challenges with the Chapter 11 filing of its automotive parts subsidiary.
Icahn Enterprises is focused on maintaining strong liquidity and financial flexibility. As of September 30, 2023, the company reported an indicative net asset value increase of $147 million compared to the previous quarter. However, year-to-date figures showed a decrease mainly due to non-recurring losses linked to the bankruptcy of Auto Plus.
In partnership developments, Icahn Enterprises declared a quarterly distribution of $1.00 per depositary unit, payable on December 27, 2023. This decision highlights the company’s commitment to rewarding its unitholders regularly. The unitholders can choose to receive their distribution in either cash or additional depositary units.
Icahn Enterprises continues to pursue aggressive activist strategies, recently announcing new positions in American Electric Power Company and JetBlue Airways within its Investment segment. The company’s long-term focus remains on identifying undervalued assets and implementing strategic changes to unlock value.
Icahn Enterprises (IEP) reported Q4 2024 financial results, showing a net loss of $98 million ($0.19 per unit), an improvement from Q4 2023's loss of $139 million. Quarterly revenues decreased to $2.6 billion from $2.7 billion year-over-year.
The company's Adjusted EBITDA improved to $12 million from $9 million in Q4 2023. Indicative Net Asset Value declined by $223 million to approximately $3.3 billion, primarily due to a $286 million decrease in CVR Energy value and a $57 million decline in Viskase, partially offset by a $292 million increase in Real Estate segment value.
IEP declared a quarterly distribution of $0.50 per depositary unit, payable on April 16, 2025, with unitholders having the option to receive cash or additional units.
Icahn Enterprises L.P. (Nasdaq:IEP) has announced its upcoming fourth quarter 2024 earnings conference call, scheduled for Wednesday, February 26, 2025, at 10:00 a.m. Eastern Time. The company will host the results discussion via webcast, with viewers encouraged to join 15 minutes before the start time. A replay will be available for at least twelve months.
IEP operates as a master partnership and maintains a diversified portfolio across seven primary business segments: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion and Pharma.
Icahn Enterprises L.P. (NASDAQ: IEP) and Icahn Enterprises Holdings L.P. have announced the completion of IEH's cash tender offer for CVR Energy (NYSE: CVI) shares. The tender offer, which expired on January 8, 2025, sought to purchase up to 17,753,322 shares at $18.25 per share.
The final results showed that approximately 878,212 shares were properly tendered and not withdrawn. IEH will accept all tendered shares for payment, representing about 0.9% of CVR Energy's outstanding common stock, for a total purchase price of approximately $16 million. The depositary agent, Broadridge Corporate Issuer Solutions, , will promptly process payments for the accepted shares.
Icahn Enterprises L.P. (IEP) and Icahn Enterprises Holdings L.P. have extended their cash tender offer for up to 17,753,322 shares of CVR Energy (CVI) common stock. The offer price remains at $18.25 per share, with the deadline extended from January 6, 2025, to 5:00 p.m., New York City time, on January 8, 2025.
As of 6:00 p.m. on January 6, 2025, approximately 960,479 shares have been tendered, including 700,244 shares tendered by guaranteed delivery. The companies stated they do not intend to further extend the offer period or modify any other terms and conditions. Neither the companies involved nor their agents are making recommendations to stockholders regarding the tender offer.
Icahn Enterprises (IEP) and Icahn Enterprises Holdings (IEH) have launched a cash tender offer for up to 17,753,322 shares of CVR Energy (CVI) common stock at $18.25 per share. This represents a 10.5% premium over CVR Energy's November 7, 2024 closing price of $16.52. IEH currently owns about 66% of CVR Energy's shares and could increase its ownership to approximately 84% if the tender offer is fully subscribed.
The offer expires on January 6, 2025, and is subject to various terms and conditions detailed in the Offer to Purchase. The Special Committee of CVR Energy has chosen to remain neutral regarding the offer. If oversubscribed, shares will be purchased on a pro rata basis.
Icahn Enterprises (NASDAQ: IEP) has announced the pricing of $500 million in 10.000% Senior Secured Notes due 2029 in a private placement. The Notes will be secured by substantially all assets directly owned by the Issuers and the Guarantor. The offering is expected to close on November 20, 2024. The net proceeds will be used to partially redeem existing 6.250% Senior Notes due 2026. Concurrently, the company will grant a lien to holders of existing notes to ensure equal security with the new Notes.
Icahn Enterprises (NASDAQ: IEP) announced plans to offer $500 million in Senior Secured Notes due 2029 through a private placement. The Notes will be secured by substantially all assets directly owned by the Issuers and the Guarantor, with proceeds being used to partially redeem existing 6.250% Senior Notes due 2026. The offering includes granting liens to holders of existing notes to ensure equal security. The Notes will only be offered to qualified institutional buyers in the US under Rule 144A and non-US persons under Regulation S.
Icahn Enterprises (IEP) reported Q3 2024 financial results with net income of $22 million ($0.05 per unit), improving from a $6 million loss in Q3 2023. Revenue decreased to $2.8 billion from $3.0 billion year-over-year. Adjusted EBITDA declined to $183 million from $243 million in the prior year quarter. The company reduced its quarterly distribution from $1.00 to $0.50 per unit, representing a 16% annualized yield. Indicative net asset value decreased by $423 million to $3.6 billion, primarily due to declines in CVI ($249M) and Automotive Services ($193M), partially offset by positive investment fund performance of $192 million.
Icahn Enterprises (IEP) has proposed a tender offer to acquire up to 15 million additional shares of CVR Energy common stock at $17.50 per share. The offer represents a 6% premium to CVR's November 7 closing price and a 5% premium to the 7-day volume-weighted average price. IEP currently owns 66.3% of CVR's outstanding shares and would increase its ownership to 81.3% if the tender offer is fully subscribed. The offer will not be subject to minimum tender conditions, and IEP expects a special committee of independent CVR directors to evaluate the proposal.
Icahn Enterprises (Nasdaq:IEP) has announced its Q3 2024 earnings conference call, scheduled for Friday, November 8, 2024, at 10:00 a.m. Eastern Time. The company will host a webcast for the presentation, with viewers encouraged to join 15 minutes before the start time. A replay will be available for at least twelve months. Icahn Enterprises is a master partnership operating across seven primary business segments: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion and Pharma.
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