Icahn Enterprises(US:IEP)2025-11-05 13:00Financial Performance - For Q3 2025, revenues were $2.7 billion, a decrease of 3.6% from $2.8 billion in Q3 2024[2] - Net income for Q3 2025 was $287 million, compared to $22 million in Q3 2024, representing a significant increase[2] - Adjusted EBITDA for Q3 2025 was $383 million, up from $183 million in Q3 2024, indicating a year-over-year growth of 109.8%[2][6] - For the nine months ended September 30, 2025, revenues totaled $7.0 billion, down from $7.5 billion in the same period of 2024[3] - The net loss for the nine months ended September 30, 2025, was $300 million, an improvement from a loss of $347 million in the same period of 2024[3] - Adjusted EBITDA for the three months ended September 30, 2025, was $594 million, compared to $291 million for the same period in 2024, representing a 104% increase[24] - Net income for the three months ended September 30, 2025, was $411 million, up from $80 million in the same period of 2024[24] - EBITDA before non-controlling interests for the nine months ended September 30, 2025, was $337 million, significantly higher than $168 million for the same period in 2024[24] - The company reported a loss of $370 million for the nine months ended September 30, 2025, compared to a loss of $432 million for the same period in 2024[24] Asset and Liability Management - As of September 30, 2025, the indicative net asset value increased by $567 million to approximately $3.8 billion compared to June 30, 2025[4][6] - The total liabilities as of September 30, 2025, were $11.4 billion, a slight decrease from $11.7 billion at the end of 2024[13] - Cash and cash equivalents were reported at $1.8 billion as of September 30, 2025, down from $2.6 billion at the end of 2024[13] - Total market-valued subsidiaries and investments increased to $5,043 million as of September 30, 2025, from $4,379 million as of June 30, 2025, reflecting a 15% growth[22] - Indicative net asset value rose to $3,820 million as of September 30, 2025, compared to $3,253 million as of June 30, 2025, marking a 17% increase[22] Segment Performance - The company's real estate segment reported an indicative gross asset value of $692 million as of September 30, 2025, slightly down from $715 million as of June 30, 2025[22] - The automotive services segment's indicative net asset value was $1,279 million as of September 30, 2025, up from $1,194 million as of June 30, 2025, reflecting a 7% increase[22] Interest and Valuation - Interest expense for the three months ended September 30, 2025, was $95 million, compared to $73 million in the same period of 2024, indicating a 30% increase[24] - Management performed a valuation of Viskase with third-party consultants, indicating a significant decline in trailing twelve-month Adjusted EBITDA, which is now considered volatile[23] Distribution - The company declared a quarterly distribution of $0.50 per depositary unit, to be paid on or about December 24, 2025[5][6] Company Operations - The company operates in various sectors including Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion, and Pharma[7]