Investing.com -- Icahn Enterprises L.P. reported a narrower fourth-quarter net loss on Thursday, beating analyst expectations despite a slight decline in revenue.
The diversified holding company posted a net loss of $98 million, or $0.19 per depositary unit, for the fourth quarter of 2024. This compares to a net loss of $139 million, or -$0.33 per unit, in the same period last year. Revenue fell slightly to $2.6 billion from $2.7 billion YoY.
Adjusted EBITDA attributable to Icahn Enterprises (NASDAQ:IEP) improved to $12 million, up from $9 million in Q4 2023.
"We saw improvement in our fourth quarter results compared to last year, despite ongoing challenges in some of our operating segments," said Carl Icahn, Chairman of Icahn Enterprises.
The company's indicative net asset value decreased by $223 million from the previous quarter to approximately $3.3 billion as of December 31, 2024. This decline was primarily driven by a $286 million drop in CVR Energy (NYSE:CVI)'s value and a $57 million decline in Viskase, partially offset by a $292 million increase in the Real Estate segment.
Icahn Enterprises declared a quarterly distribution of $0.50 per depositary unit, payable on or about April 16, 2025.
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