Icahn Enterprises reported a sharply wider second-quarter loss as revenue rose year over year, while the value of its asset base fell by $765 million from the prior quarter.
For the three months ended June 30, 2026, revenue increased to $3.0 billion from $2.4 billion a year earlier, a gain of $600 million, or 25%. Despite that top-line increase, net loss attributable to IEP widened to $355 million from $165 million in the 2025 quarter, an increase of $190 million. Loss per depositary unit increased to $0.52 from $0.30.
Adjusted EBITDA swung to a loss of $134 million in the quarter, compared with adjusted EBITDA of $40 million in the second quarter of 2025, a decline of $174 million.
For the first half of 2026, revenue rose to $5.2 billion from $4.2 billion in the first half of 2025, up $1.0 billion, or about 24%. Net loss attributable to IEP increased to $814 million from $587 million, a rise of $227 million. Loss per depositary unit widened to $1.22 from $1.08. Adjusted EBITDA loss deepened to $350 million from $188 million, a deterioration of $162 million.
Indicative net asset value stood at about $2.6 billion at June 30, 2026, down $765 million from March 31. The company said the decline was driven mainly by a $435 million drop in the value of its long position in CVI and a $243 million reduction tied to the holding company’s interest in investment funds, largely from net losses on broad market hedges.
The board declared a second-quarter distribution of $0.50 per depositary unit. As a result of these announcements, the company's shares have moved -3.82% on the market, and are now trading at a price of $7.435. If you want to know more, read the company's complete 8-K report here.
