Icahn Enterprises $(IEP)$ reported Q4 FY2025 revenues of USD 2.7 billion and net income attributable to unitholders of USD 1 million (about USD 0 per depositary unit), with Adjusted EBITDA of USD 281 million. For FY2025, IEP posted revenues of USD 9.7 billion and a net loss attributable to unitholders of USD 299 million (USD 0.52 per depositary unit), while Adjusted EBITDA was USD 338 million. IEP said indicative net asset value was about USD 3.2 billion as of December 31, 2025, down USD 654 million from September 30, 2025, primarily driven by a USD 778 million decrease in its long position in CVI and USD 75 million of holding company net interest expense, partly offset by USD 261 million of positive performance from the Funds. The board declared a Q4 distribution of USD 0.50 per depositary unit, payable on or about April 15, 2026, with unitholders able to elect to receive cash or additional units.
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