IEP Reports Massive Increase in Q4 Adjusted EBITDA

By Chris Stiles • Wednesday, February 25 14:44 • Permanent Link

Icahn Enterprises L.P. (NASDAQ: IEP) has released its financial results for the fourth quarter and full year 2025. The company reported a substantial increase in adjusted EBITDA, which was $281 million for Q4 2025 compared to $16 million in Q4 2024. Net income attributable to IEP for Q4 2025 was $1 million, a significant improvement from a net loss of $98 million in Q4 2024.

Revenues for the three months ended December 31, 2025, were $2.7 billion, slightly higher than the $2.6 billion reported for the same period in 2024. However, the company managed to turn around its financial performance significantly, posting a net loss of $98 million in Q4 2024 to a net income of $1 million in Q4 2025.

For the full year ended December 31, 2025, revenues amounted to $9.7 billion, slightly lower than the $10.0 billion reported for the year ended December 31, 2024. Despite the decrease in revenue, the company reduced its net loss from $445 million in 2024 to $299 million in 2025.

Adjusted EBITDA for the full year 2025 was $338 million, up from $184 million in 2024, reflecting a notable improvement in the company's operational performance.

The indicative net asset value as of December 31, 2025, decreased by $654 million compared to September 30, 2025, primarily due to a decrease of $778 million in the company's long position in CVI and net interest expenses of $75 million. However, the decrease was partially offset by the positive performance from the funds, amounting to $261 million.

Furthermore, Icahn Enterprises declared a fourth quarter distribution of $0.50 per depositary unit, and as of February 23, 2026, the board of directors of the general partner of Icahn Enterprises has approved a quarterly distribution in the same amount, which will be paid on or about April 15, 2026, to depositary unitholders of record at the close of business on March 9, 2026.

Icahn Enterprises, a diversified holding company with subsidiaries engaged in various industries, has demonstrated significant improvements in its financial performance, especially in adjusted EBITDA and net income, compared to the previous periods. Following these announcements, the company's shares moved -0.64%, and are now trading at a price of $7.81. If you want to know more, read the company's complete 8-K report here.

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