Icahn Enterprises Swings to 3Q Profit Despite Drop in Revenue

Dow Jones

2024-11-08

By Ben Glickman

Icahn Enterprises reported a profit in the third quarter despite lagging performance by some of the firm's largest holdings.

The activist investment firm controlled by Carl Icahn reported a profit of $22 million, or 5 cents a share, in the quarter, compared with a loss of $6 million, or 1 cent a share, a year earlier.

Revenue fell 7.3% from a year ago to $2.79 billion. Net asset value as of September 30 fell $432 million, which was largely attributable to declines in CVR Energy and automotive services.

Icahn Enterprises also Friday morning announced it would boost its stake in CVR Energy, its top holding, and would cut its dividend by half.

Icahn said that the market presented major opportunities, with some "unjustifiable premiums" on stocks and other companies being undervalued.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

November 08, 2024 07:18 ET (12:18 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Net asset value as of September 30 fell $432 million, which was largely attributable to declines in CVR Energy and automotive services. \n</p>\n<p>\n  Icahn Enterprises also Friday morning announced it would boost its stake in CVR Energy, its top holding, and would cut its dividend by half. \n</p>\n<p>\n  Icahn said that the market presented major opportunities, with some \"unjustifiable premiums\" on stocks and other companies being undervalued. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Ben Glickman at ben.glickman@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 08, 2024 07:18 ET (12:18 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Icahn Enterprises Swings to 3Q Profit Despite Drop in Revenue</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIcahn Enterprises Swings to 3Q Profit Despite Drop in Revenue\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2024-11-08 20:18</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Ben Glickman \n</p>\n<pre>\n \n</pre>\n<p>\n  Icahn Enterprises reported a profit in the third quarter despite lagging performance by some of the firm's largest holdings. \n</p>\n<p>\n  The activist investment firm controlled by Carl Icahn reported a profit of $22 million, or 5 cents a share, in the quarter, compared with a loss of $6 million, or 1 cent a share, a year earlier. \n</p>\n<p>\n  Revenue fell 7.3% from a year ago to $2.79 billion. Net asset value as of September 30 fell $432 million, which was largely attributable to declines in CVR Energy and automotive services. \n</p>\n<p>\n  Icahn Enterprises also Friday morning announced it would boost its stake in CVR Energy, its top holding, and would cut its dividend by half. \n</p>\n<p>\n  Icahn said that the market presented major opportunities, with some \"unjustifiable premiums\" on stocks and other companies being undervalued. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Ben Glickman at ben.glickman@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 08, 2024 07:18 ET (12:18 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IEP","symbol_name":"伊坎企業","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481179249","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481179249","pubTimestamp":1731068280,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Icahn Enterprises reported a profit in the third quarter despite lagging performance by some of the firm's largest holdings.The activist investment firm controlled by Carl Icahn reported a profit of $22 million, or 5 cents a share, in the quarter, compared with a loss of $6 million, or 1 cent a share, a year earlier.Revenue fell 7.3% from a year ago to $2.79 billion. Net asset value as of September 30 fell $432 million, which was largely attributable to declines in CVR Energy and automotive services.Icahn Enterprises also Friday morning announced it would boost its stake in CVR Energy, its top holding, and would cut its dividend by half.Icahn said that the market presented major opportunities, with some \"unjustifiable premiums\" on stocks and other companies being undervalued.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"IEP":"伊坎企业"},"translate_title":"尽管收入下降，伊坎企业仍实现第三季度盈利","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IEP":0.9},"content_text":"By Ben Glickman \n\n\n \n\n\n  Icahn Enterprises reported a profit in the third quarter despite lagging performance by some of the firm's largest holdings. \n\n\n  The activist investment firm controlled by Carl Icahn reported a profit of $22 million, or 5 cents a share, in the quarter, compared with a loss of $6 million, or 1 cent a share, a year earlier. \n\n\n  Revenue fell 7.3% from a year ago to $2.79 billion. Net asset value as of September 30 fell $432 million, which was largely attributable to declines in CVR Energy and automotive services. \n\n\n  Icahn Enterprises also Friday morning announced it would boost its stake in CVR Energy, its top holding, and would cut its dividend by half. \n\n\n  Icahn said that the market presented major opportunities, with some \"unjustifiable premiums\" on stocks and other companies being undervalued. \n\n\n \n\n\n  Write to Ben Glickman at ben.glickman@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 08, 2024 07:18 ET (12:18 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}