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Icahn Enterprises(IEP) - 2025 Q2 - Earnings Call Presentation
2025-08-04 14:00
Financial Results - Q2 2025 net loss attributable to IEP was $165 million, compared to a net loss of $331 million for Q2 2024[6] - Q2 2025 Adjusted EBITDA loss attributable to IEP was $43 million, compared to an Adjusted EBITDA loss of $155 million for Q2 2024[6] - Indicative net asset value as of June 30, 2025, was approximately $3.3 billion, an increase of $252 million compared to March 31, 2025[6] - The company declares a second quarter distribution of $0.50 per depositary unit[6] Segment Performance - Energy segment: Adjusted EBITDA decreased by $127 million to a loss of $24 million for Q2 2025 compared to $103 million in Q2 2024[17, 20] - Automotive segment: Adjusted EBITDA decreased $27 million for Q2 2025 compared to Q2 2024, impacted by higher labor costs and operating expenses[23, 24] - Investment segment: Returns of negative 0.5% for Q2 2025[12, 14] - All Other Segments: Q2 2025 Adjusted EBITDA attributable to IEP was $17 million compared to $28 million for Q2 2024[31] Energy Segment Details - Refining margin for Q2 2025 was $2.21 per throughput barrel, compared to $10.94 during Q2 2024[17, 20] - Renewable margin for Q2 2025 was $0.38 per vegetable oil throughput gallon, compared to $0.43 in Q2 2024[17, 20] - Q2 2025 average realized gate prices for UAN increased by 18% to $317 per ton and ammonia increased by 14% to $593 per ton when compared to Q2 2024[17, 19]
Icahn Enterprises (IEP) Earnings Call Presentation
2025-06-25 06:40
Company Overview - As of March 31, 2025, Carl Icahn and his affiliates owned approximately 86% of IEP's outstanding depositary units[7,8] - As of May 15, 2025, IEP has a $200 annualized distribution, which is a 207% yield[7] - As of March 31, 2025, IEP has liquidity through its investment in the Investment Funds of approximately $25 billion[7] Financial Performance (LTM March 31, 2025) - Investment segment assets were $3850 million, with a net loss attributable to IEP of $333 million[7] - Energy segment assets were $4722 million, with net sales of $7393 million and a net loss attributable to IEP of $153 million[7] - Automotive segment assets were $1881 million, with net sales of $1470 million and a net loss attributable to IEP of $34 million[7] - Food Packaging segment assets were $434 million, with net sales of $397 million and a net loss attributable to IEP of $20 million[7] - Real Estate segment assets were $512 million, with net sales of $95 million and a net loss attributable to IEP of $6 million[7] - Home Fashion segment assets were $220 million, with net sales of $181 million and a net loss attributable to IEP of $9 million[7] - Pharma segment assets were $274 million, with net sales of $107 million and a net income attributable to IEP of $6 million[7]
Icahn Enterprises(IEP) - 2025 Q1 - Earnings Call Presentation
2025-05-07 12:33
Financial Performance - Icahn Enterprises L P reported a net loss attributable to IEP of $422 million for Q1 2025, compared to a net loss of $38 million for Q1 2024[6] - Adjusted EBITDA loss attributable to IEP was $287 million for Q1 2025, a decrease compared to an Adjusted EBITDA of $134 million for Q1 2024[6] - The Investment segment reported a net loss attributable to IEP of $224 million for Q1 2025, compared to a net loss of $23 million in Q1 2024[9, 12] - The Energy segment experienced a net loss attributable to IEP of $86 million in Q1 2025, compared to a net income of $49 million in Q1 2024[9] - The Automotive segment had a net loss of $27 million in Q1 2025, compared to a net loss of $9 million in Q1 2024[9] Segment Highlights - The Investment segment's Funds had a net long notional exposure of 20% as of March 31, 2025, with returns of negative 8 4% for Q1 2025[12] - The Energy segment's consolidated Adjusted EBITDA decreased by $264 million to a loss of $61 million for Q1 2025, compared to $203 million in Q1 2024[15, 18] - Automotive Services revenue decreased by $23 million primarily due to reduced pricing and a shift of consumer behavior toward lower priced offerings[23] - Aftermarket Parts revenue in the Automotive segment decreased by $11 million due to the exit of the Aftermarket Parts business, completed in Q1 2025[22, 23] - Food Packaging Q1 2025 Adjusted EBITDA attributable to IEP decreased by $6 million compared to prior year quarter primarily due to lower price and higher manufacturing inefficiencies[26, 30] Liquidity and Net Asset Value - As of March 31, 2025, the indicative net asset value was approximately $3 billion, a decrease of $336 million compared to December 31, 2024[6] - Total Holding Company liquid assets were $3 781 billion as of March 31, 2025, including $1 318 billion in cash and cash equivalents and $2 463 billion in Investment Funds[32]