Overview

* Icahn Enterprises ( IEP ) Q3 revenue of $2.7 bln beats analyst expectations

* Net income for Q3 was $287 mln, surpassing analyst estimates

* Adjusted EBITDA for Q3 rose to $383 mln from $183 mln in Q3 2024

Result Drivers

* INVESTMENT GAINS - Co attributes increase in net asset value to $678 mln gains from CVI and $267 mln from other fund positions

* HEDGING LOSSES - Co reports $281 mln losses from hedging efforts offsetting some investment gains

* NET ASSET VALUE INCREASE - Indicative net asset value rose by $567 mln due to investment gains

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $2.70 $2.40

Revenue bln bln (1

Analyst)

Q3 EPS Beat $0.49 $0.14 (1

Analyst)

Q3 Net Beat $287 mln $82 mln

Income (1

Analyst)

Q3 $0.50

Dividend

Q3 Net $3.80

Asset bln

Value

Analyst Coverage

* The one available analyst rating on the shares is "strong buy"

* The average consensus recommendation for the oil & gas refining and marketing peer group is "buy."

* Wall Street's median 12-month price target for Icahn Enterprises LP ( IEP ) is $12.00, about 32.4% above its November 4 closing price of $8.11

* The stock recently traded at 54 times the next 12-month earnings vs. a P/E of 28 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)