IEP

Over the past six months (April-October 2026), IEP announced Q1 2026 financial results in May and Q2 2026 results in August, reporting a net loss of $355 million for Q2 2026, an increase from $165 million in Q2 2025, with indicative net asset value decreasing by $765 million. In July, Mavis acquired Pep Boys from Icahn Enterprises for $700 million, completed in August, with IEP retaining real estate and AAMCO/Precision Tune businesses. S&P Global Ratings downgraded IEP's issuer credit rating to 'B+' from 'BB-' in August due to persistent investment fund losses, which saw an 18.2% decline in H1 2026. The company declared a quarterly distribution of $0.50 per depositary unit in August, paid in September, though concerns about dividend sustainability were raised. Carl Icahn reportedly added nearly 69 million shares of his company in the last quarter. In October, shares fell below their 200-day moving average, and analyst sentiment remained negative with a 'Sell' rating.