(RTTNews) - Icahn Enterprises L.P. (IEP) reported a wider second-quarter loss on Wednesday, driven by investment losses despite year-over-year sales growth.
The quarterly loss attributable to Icahn was $355 million, compared to $165 million last year. On a per share, loss was $0.52, wider than $0.30 a year ago.
Revenue for the quarter increased to $3.081 billion, from $2.143 billion last year. Net sales climbed to $3.081 billion from $2.143 billion in the previous year. Loss from investment activities was $334 million, compared to $74 million in the prior year.
IEP Chairman Carl C. Icahn said, "...the strong rebound in our refining investment during July underscores the temporary nature of these dislocations and highlights the timing differences that can occur between our underlying positions and related hedges."
The company said it is continuing to right-size hedge portfolio to better align with its underlying exposures. These adjustments will help "reduce periodic volatility, improve the consistency of our performance, and support more balanced risk-adjusted returns going forward."
Indicative net asset value, as on June 30, 2026, decreased $765 million compared to March 31, 2026, primarily due to a decrease of $435 million in the value of its long position in CVI.
The board has declared a quarterly distribution of $0.50 per depositary unit, to be paid on or about September 23, 2026 to depositary unitholders of record at the close of business on August 17, 2026.
IEP Shares are currently at $7.44, don 3.75 percent
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