Icahn Enterprises Stock Price, News & Analysis

Icahn Enterprises (NASDAQ: IEP) has announced the pricing of $500 million in 10.000% Senior Secured Notes due 2029 in a private placement. The Notes will be secured by substantially all assets directly owned by the Issuers and the Guarantor. The offering is expected to close on November 20, 2024. The net proceeds will be used to partially redeem existing 6.250% Senior Notes due 2026. Concurrently, the company will grant a lien to holders of existing notes to ensure equal security with the new Notes.

Icahn Enterprises (NASDAQ: IEP) announced plans to offer $500 million in Senior Secured Notes due 2029 through a private placement. The Notes will be secured by substantially all assets directly owned by the Issuers and the Guarantor, with proceeds being used to partially redeem existing 6.250% Senior Notes due 2026. The offering includes granting liens to holders of existing notes to ensure equal security. The Notes will only be offered to qualified institutional buyers in the US under Rule 144A and non-US persons under Regulation S.

Icahn Enterprises (IEP) reported Q3 2024 financial results with net income of $22 million ($0.05 per unit), improving from a $6 million loss in Q3 2023. Revenue decreased to $2.8 billion from $3.0 billion year-over-year. Adjusted EBITDA declined to $183 million from $243 million in the prior year quarter. The company reduced its quarterly distribution from $1.00 to $0.50 per unit, representing a 16% annualized yield. Indicative net asset value decreased by $423 million to $3.6 billion, primarily due to declines in CVI ($249M) and Automotive Services ($193M), partially offset by positive investment fund performance of $192 million.

Icahn Enterprises (IEP) has proposed a tender offer to acquire up to 15 million additional shares of CVR Energy common stock at $17.50 per share. The offer represents a 6% premium to CVR's November 7 closing price and a 5% premium to the 7-day volume-weighted average price. IEP currently owns 66.3% of CVR's outstanding shares and would increase its ownership to 81.3% if the tender offer is fully subscribed. The offer will not be subject to minimum tender conditions, and IEP expects a special committee of independent CVR directors to evaluate the proposal.

Icahn Enterprises (Nasdaq:IEP) has announced its Q3 2024 earnings conference call, scheduled for Friday, November 8, 2024, at 10:00 a.m. Eastern Time. The company will host a webcast for the presentation, with viewers encouraged to join 15 minutes before the start time. A replay will be available for at least twelve months. Icahn Enterprises is a master partnership operating across seven primary business segments: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion and Pharma.

Icahn Enterprises (IEP) announced the dismissal of a proposed class action lawsuit against the company and its directors. The U.S. District Court found that the lawsuit, based on claims from Hindenburg Research's reports, failed to show material misrepresentations or intent to defraud. Carl C. Icahn, IEP's Chairman, expressed satisfaction with the debunking of these claims and criticized the network of short sellers and their practices.

IEP also addressed the recent SEC investigation, stating it found no fraud or impropriety in distributions, settling only a technical disclosure violation. The company clarified that recent media reports about potential large-scale unit sales by Carl Icahn or IEP were false, emphasizing that the recent SEC filing was a routine update for their ATM offering program.

Icahn Enterprises L.P. (Nasdaq: IEP) reported its Q2 2024 financial results, revealing a net loss of $331 million, a $62 million decline from the previous year. The company's Adjusted EBITDA was a loss of $155 million, compared to $14 million in Q2 2023. Revenues decreased to $2.2 billion from $2.6 billion year-over-year. The indicative net asset value fell by $969 million to approximately $4 billion as of June 30, 2024. Despite these losses, IEP declared a quarterly distribution of $1.00 per depositary unit. For the first half of 2024, IEP reported revenues of $4.7 billion and a net loss of $369 million, compared to $5.2 billion in revenues and a $539 million net loss in the same period of 2023.

Icahn Enterprises L.P. (Nasdaq:IEP) has announced its upcoming Q2 2024 earnings conference call, scheduled for Wednesday, August 7, 2024, at 10:00 a.m. Eastern Time. The company will host a webcast to discuss the results, with access available through a provided link. Viewers are encouraged to join 15 minutes before the start time. A replay of the webcast will be accessible for at least twelve months on the Icahn events and presentations page.

Icahn Enterprises L.P. is a diversified holding company structured as a master partnership. It operates across seven primary business segments: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion, and Pharma.

Icahn Enterprises (NASDAQ: IEP) announced the closing of a $750 million Senior Notes offering at a 9.000% interest rate, maturing in 2030. The funds will be used to fully redeem the company's existing 6.375% Senior Unsecured Notes due 2025 on June 13, 2024. The notes were issued in a private placement and are guaranteed by Icahn Enterprises Holdings L.P. The offering was made under Rule 144A and Regulation S of the Securities Act, targeting qualified institutional buyers and non-U.S. persons. This press release complies with Rule 135c of the Securities Act.