Icahn Enterprises Reports Q4 2025 Financial Turnaround
Icahn Enterprises announced its fourth quarter 2025 financial results, posting an adjusted EBITDA of $281 million. This marks a significant turnaround from the $16 million adjusted EBITDA reported in the same quarter of the previous year. The company also declared its fourth-quarter dividend.
- The declared fourth-quarter dividend is $0.50 per depositary unit, consistent with the distributions made in the previous three quarters of 2025. This follows a reduction from the $1.00 per unit paid in most of 2024. - While adjusted EBITDA showed a significant turnaround, the company's Indicative Net Asset Value decreased by $654 million in the fourth quarter to approximately $3.2 billion. This decline was primarily driven by a $778 million decrease in the value of the company's long position in CVR Energy (CVI). - The Q4 results brought the company to a net income of $1 million for the quarter, a sharp reversal from the $98 million net loss reported in the fourth quarter of the prior year. For the full fiscal year 2025, Icahn Enterprises reported total revenues of $9.7 billion. - This financial report follows a strong third quarter in 2025, which saw a net income of $287 million and an increase in net asset value of $567 million, largely due to gains from its investment in CVR Energy. - As of the end of 2025, Carl Icahn's personal holdings in Icahn Enterprises (IEP) represented 49.12% of his investment portfolio, with CVR Energy being the second largest holding at 21.21%. - In a move to manage its balance sheet, the company recently announced it would use cash on hand to fully redeem its 6.250% Senior Notes that are due in 2026. - The company's diverse holdings include segments in Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion, and Pharma.
