NASDAQ$IEP
Icahn Enterprises LP · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Icahn Enterprises' financial performance remained positive with revenue of $2.8 billion and a net income of $22 million, although adjusted EBITDA decreased compared to the same period last year.
Icahn Enterprises reported revenues of $2.8 billion and net income of $22 million, or $0.05 per depositary unit, for the three months ended September 30, 2024. Adjusted EBITDA was $183 million. The company decreased its quarterly distribution from $1.00 to $0.50 per depositary unit to fund investments and maintain liquidity.
- Revenues for Q3 2024 were $2.8 billion, compared to $3.0 billion for Q3 2023.
- Net income for Q3 2024 was $22 million, or $0.05 per depositary unit, compared to a net loss of $6 million, or a loss of $0.01 per depositary unit for Q3 2023.
- Adjusted EBITDA for Q3 2024 was $183 million, compared to $243 million for Q3 2023.
- The company decreased the quarterly distribution to $0.50 per depositary unit to fund investments and maintain a war chest of liquidity.
Headline financials
Revenue & EPS history
Icahn Enterprises · Revenue · Quarterly
$2.79B
Forward guidance
Icahn Enterprises believes its portfolio has significant opportunities ahead, particularly in undervalued situations that create opportunities for activists. The company intends to launch a tender offer to acquire additional shares of CVI and has decreased the quarterly distribution to fund this investment and maintain liquidity.
Tailwinds
- Portfolio seen as having significant opportunities.
- Belief that actions taken will lead to increased capital returns to unitholders.
- Intention to launch a tender offer to acquire additional shares of CVI.
- Maintaining a war chest of liquidity to take advantage of opportunities.
- Early signs of recovery in Automotive Services business after leadership change.
Headwinds
- Decrease in quarterly distribution from $1.00 to $0.50 per depositary unit.
- Decrease in indicative net asset value driven by decline in CVI and Automotive Services.
- Extreme valuations in the stock market with some companies trading at unjustifiable premiums.
- Risks related to economic downturns and substantial competition.
- Impacts from ongoing Russia/Ukraine conflict and conflict in the Middle East.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.4%
Avg return
Earnings day
-0.0%
Avg return
5 days after
-8.1%
Avg return
30 days after
42%
27 / 64 earnings
Positive
+15.2%
Q3 2023
Best reaction
-27.6%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.7% | -2.6% | -11.0% | |
| Q4 2025 | +3.2% | +4.8% | -3.7% | |
| Q3 2025 | +8.9% | +11.0% | -2.6% | |
| Q2 2025 | -0.2% | +3.2% | -6.3% | |
| Q1 2025 | -4.4% | +5.2% | -3.2% | |
| Q4 2024 | -2.2% | -2.5% | -10.2% | |
| Q3 2024 | -0.2% | -3.6% | -18.1% | |
| Q2 2024 | -5.0% | -1.3% | -37.0% | |
| Q1 2024 | +5.0% | +7.0% | -2.7% | |
| Q4 2023 | +3.6% | -11.1% | -21.0% | |
| Q3 2023 | +15.2% | +12.7% | -0.8% | |
| Q2 2023 | -27.6% | -27.3% | -38.1% | |
| Q1 2023 | -16.6% | -10.1% | -26.3% | |
| Q4 2022 | -0.6% | -0.3% | -6.5% | |
| Q3 2022 | +1.3% | +1.0% | -5.7% | |
| Q2 2022 | +0.1% | +0.4% | -5.0% | |
| Q1 2022 | -1.5% | +0.1% | -4.0% | |
| Q4 2021 | +0.8% | +0.1% | -5.4% | |
| Q3 2021 | -0.3% | -0.8% | -11.7% | |
| Q2 2021 | +0.9% | -0.6% | -7.5% | |
| Q1 2021 | +5.1% | +0.1% | -4.1% | |
| Q4 2020 | -8.5% | -9.6% | -18.3% | |
| Q3 2020 | -2.0% | -1.4% | -3.3% | |
| Q2 2020 | +7.0% | +7.3% | -5.0% | |
| Q1 2020 | +2.3% | +0.3% | +4.4% | |
| Q4 2019 | +3.5% | +0.8% | -21.3% | |
| Q3 2019 | -3.1% | -2.9% | -11.3% | |
| Q2 2019 | +1.4% | +1.1% | -8.8% | |
| Q1 2019 | -0.7% | +0.1% | -8.5% | |
| Q4 2018 | +6.3% | +4.8% | +0.7% | |
| Q3 2018 | -6.2% | -6.3% | -11.6% | |
| Q2 2018 | +1.9% | +3.8% | -0.2% | |
| Q1 2018 | +2.4% | +7.6% | +3.3% | |
| Q4 2017 | +4.4% | +12.7% | +4.5% | |
| Q3 2017 | +6.2% | +4.3% | -5.1% | |
| Q2 2017 | +3.3% | -1.3% | -2.7% | |
| Q1 2017 | -3.2% | -6.3% | -9.8% | |
| Q4 2016 | -4.3% | -3.1% | -8.9% | |
| Q3 2016 | -0.6% | +0.1% | +17.6% | |
| Q2 2016 | -0.4% | +2.4% | -9.5% | |
| Q1 2016 | -11.7% | — | — | |
| Q4 2015 | +10.3% | — | — | |
| Q3 2015 | -1.9% | — | — | |
| Q2 2015 | -1.6% | — | — | |
| Q1 2015 | -0.9% | — | — | |
| Q4 2014 | -6.3% | — | — | |
| Q3 2014 | -1.8% | — | — | |
| Q2 2014 | -1.0% | — | — | |
| Q1 2014 | -2.4% | — | — | |
| Q4 2013 | +3.2% | — | — | |
| Q3 2013 | +13.4% | — | — | |
| Q2 2013 | -0.3% | — | — | |
| Q1 2013 | +8.5% | — | — | |
| Q4 2012 | -2.3% | — | — | |
| Q3 2012 | -5.4% | — | — | |
| Q1 2012 | -5.3% | — | — | |
| Q4 2011 | +1.4% | — | — | |
| Q3 2011 | -2.9% | — | — | |
| Q2 2011 | +6.6% | — | — | |
| Q1 2011 | +3.0% | — | — | |
| Q4 2010 | -2.8% | — | — | |
| Q3 2010 | -1.0% | — | — | |
| Q2 2010 | -0.1% | — | — | |
| Q1 2010 | -12.1% | — | — |
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