Icahn Enterprises L.P. (IEP)

Icahn Enterprises announced its Q4 2025 and Q3 2025 financial results, with Q4 Adjusted EBITDA at $281 million and Q3 Adjusted EBITDA at $383 million. IEP declared a third-quarter distribution of $0.50 per depositary unit on November 5, 2025. Carl Icahn purchased 30.5 million shares worth $245.6 million in February 2026. Over the past year, IEP has experienced a decline of 7.06% and has underperformed the US Industrials industry and the broader US Market.

Demand seasonality for Icahn Enterprises LP's products and services is evident within its Energy segment, influenced by global demand for crude oil and refined products. The nitrogen fertilizer business experiences fluctuations based on the agricultural industry's seasonality. The Automotive segment can also be exposed to adverse conditions in the automotive industry. Different segments may experience varying seasonal patterns in demand.

Icahn Enterprises LP (IEP) is a diversified holding company with interests across Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion, and Pharma. The company is classified within the Energy sector, specifically in the Oil & Gas Refining & Marketing industry, due to its significant energy operations. The Investment segment manages proprietary capital and offers advisory services. The Energy segment refines petroleum and markets products like gasoline and jet fuel. The Automotive segment is involved in repair, maintenance, and sales of automotive parts. The Food Packaging segment produces casings for the meat and poultry industry. The Real Estate segment comprises investment properties and the development of single-family homes. The Home Fashion segment manufactures and distributes home fashion products. The Pharma segment offers pharmaceutical products and services.

Icahn Enterprises LP primarily operates within the United States, which is also where it generates the maximum portion of its revenue. The company's diversified business services are provided both in the United States and internationally.

Icahn Enterprises' brand reputation has been significantly impacted by a short-seller report from Hindenburg Research, which accused the company of having a "Ponzi-like economic structure". Following the report, Icahn Enterprises cut its dividend in half and was later fined by the SEC for failures highlighted in the report. A class-action lawsuit was filed against IEP but was later dismissed.

Carl C. Icahn is the controlling owner of Icahn Enterprises LP, holding approximately 86% of the company. Insider ownership stands at 95.62%, with Carl C. Icahn being the largest insider holder. Major institutional owners and shareholders include Morgan Stanley, Susquehanna International Group, Llp, First Trust Advisors Lp, Geode Capital Management, Llc, and Jane Street Group, Llc.