Why Is Icahn Enterprises Stock Falling On Wednesday?

Icahn Enterprises L.P. IEP stock is trading lower on Wednesday. The company reported a fourth-quarter earnings loss of 19 cents per share, against the street view of 18 cents profit. Quarterly sales of $2.558 billion, down 5.1% year over year, beat the $2.27 billion estimate.

Under the Petroleum segment, the firm processed approximately 214,000 barrels per day of total throughput in the quarter.

Total vegetable oil throughput was approximately 187,000 gallons per day under the Renewables segment. Renewable margin for the quarter under review was $0.79 per vegetable oil throughput gallon, compared to a loss of $0.90 in the year-ago period.

Adjusted EBITDA was $12 million for the three months ended December 31, compared to an Adjusted EBITDA of $9 million in the year-ago period.

The company said that the funds had a net long notional exposure of 22% and posted a negative return of 1.6% as of the end of the quarter.

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The indicative net asset value decreased by $223 million at the end of the quarter under review, compared to September 30, 2024. This drop was mainly due to a $286 million decline in CVR Energy, a $71 million third-quarter distribution to depositary unit holders, and a $57 million decline in Viskase. However, the decrease was partially offset by a $292 million increase in the value of the Real Estate segment.

The company exited the quarter with cash and equivalents worth $2.603 billion.

Quarterly adjusted EBITDA attributable to the company for all other segments was $14 million compared to $22 million in the year-ago period.

Debt decreased to $6.809 billion from $7.207 billion in the year-ago period.

Price Action: At the last check on Wednesday, IEP shares were trading lower by 2.63% to $9.99.

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