Icahn Enterprises (NASDAQ:IEP) Announces Earnings Results, Misses Expectations By $0.40 EPS

Icahn Enterprises (NASDAQ:IEP) issued its quarterly earnings data on Wednesday. The conglomerate reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.40), FiscalAI reports. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $2.33 billion. Icahn Enterprises had a negative return on equity of 17.99% and a negative net margin of 4.81%.

Icahn Enterprises Stock Performance

IEP traded up $0.06 during trading on Wednesday, hitting $5.41. The stock had a trading volume of 1,766,037 shares, compared to its average volume of 1,015,233. The firm has a market cap of $3.84 billion, a PE ratio of -7.30 and a beta of 0.74. Icahn Enterprises has a 12 month low of $4.97 and a 12 month high of $9.32. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 2.98. The company has a 50 day simple moving average of $6.56 and a 200-day simple moving average of $7.39.

Icahn Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Monday, November 16th will be paid a $0.50 dividend. The ex-dividend date is Monday, November 16th. This represents a $2.00 dividend on an annualized basis and a yield of 37.0%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -270.27%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Icahn Enterprises from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Key Headlines Impacting Icahn Enterprises

Here are the key news stories impacting Icahn Enterprises this week:

• Positive Sentiment: Indicative net asset value rose about $865 million quarter over quarter to approximately $3.5 billion as of September 30, a potentially supportive sign for the partnership’s asset value. Third-quarter results
• Positive Sentiment: IEP reported receiving $645 million from the sale of Pep Boys, providing a substantial cash inflow. Its affiliate CVR Energy also announced a $4.2 billion acquisition of two refineries, which could expand its refining business. Long-term investor takeaways
• Neutral Sentiment: IEP declared a $0.50 quarterly distribution, or $2.00 annualized—equivalent to a reported yield of 37.4%. The payout may attract income-focused investors, but the unusually high yield also raises questions about how sustainable it is.
• Negative Sentiment: Third-quarter adjusted results were weak: IEP reported a $0.31-per-unit loss versus expectations for $0.09 in earnings. Revenue beat estimates, but a reported $522 million hedge loss appears to have overshadowed the top-line strength. Q3 earnings analysis
• Negative Sentiment: CVR Energy launched a $750 million share offering to help fund its refinery acquisition. The financing adds an equity issuance at an IEP-related business and could temper enthusiasm about the deal. CVR Energy share offering

About Icahn Enterprises

Icahn Enterprises L.P. (NASDAQ:IEP) is a diversified holding company managed by Icahn Capital LP. Its activities include making investments in public and private companies, pursuing activist investment strategies, and owning and operating businesses across several industries. The company is controlled by investor Carl C. Icahn, who serves as its chairman.

Its operating businesses have included petroleum refining and the production of nitrogen fertilizers through CVR Energy and CVR Partners, automotive parts distribution and repair services through Icahn Automotive, food packaging through Viskase Companies, and metal recycling through PSC Metals.