Icahn Enterprises Hits Rough Patch With Q3 Earnings Miss, Dividend Cut; Eyes Larger Stake In CVR Energy

Icahn Enterprises L.P. (NASDAQ:IEP) shares are trading lower on Friday.

The company reported third-quarter earnings per unit of 5 cents, missing the street view of 21 cents. Quarterly sales of $2.22 billion missed the analyst consensus estimate of $2.32 billion.

As of October 31, the firm had approximately $2.3 billion between cash and equivalents at the holding company and the investment funds. 

In the third quarter, net income attributable to IEP was $22 million, which is an improvement of $28 million compared to the same quarter last year. Adjusted EBITDA for the third quarter was $183 million, down from $243 million in the prior year’s quarter.

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