Icahn Enterprises reported a significant improvement in Adjusted EBITDA for Q4 FY2025, driven by strong performance in its investment and energy segments, despite a slight decrease in overall revenues. The company's net income also turned positive year-over-year, reflecting a recovery from prior period losses.
Adjusted EBITDA improved significantly to $281 million in Q4 FY2025 from $16 million in Q4 FY2024.
positiveNet income attributable to Icahn Enterprises turned positive at $1 million in Q4 FY2025, compared to a net loss of $98 million in Q4 FY2024.
positiveFull year Adjusted EBITDA increased to $338 million in FY2025 from $184 million in FY2024.
positiveDistributions declared per LP unit remained stable at $0.50 for Q4 FY2025.
neutralIndicative Net Asset Value decreased by $654 million in Q4 FY2025 compared to Q3 FY2025, primarily due to a $778 million decrease in the long position in CVI.
attentionTotal revenues decreased year-over-year for both the quarter ($2.7B in Q4 FY2025 vs $2.6B in Q4 FY2024) and the full year ($9.7B in FY2025 vs $10.0B in FY2024).
negativeFull year net loss attributable to Icahn Enterprises was $299 million in FY2025, an improvement from $445 million in FY2024 but still a significant loss.
negativeInventories decreased slightly to $845 million in FY2025 from $897 million in FY2024, but remain a significant asset.
neutralDebt remains substantial at $6.6 billion as of December 31, 2025.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Holding Company interest in Investment Funds | N/A | — | — | — |
CVR Energy | N/A | — | — | — |
CVR Partners LP | N/A | — | — | — |
Viskase | N/A | — | — | — |
Real Estate Segment | N/A | — | — | — |
WestPoint Home | N/A | — | — | — |
Vivus | N/A | — | — | — |
Icahn Automotive Group | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
The company reported a significant improvement in Adjusted EBITDA for Q4 FY2025, driven by strong performance in its investment and energy segments.
Net income attributable to Icahn Enterprises turned positive in Q4 FY2025, a notable recovery from the prior year's net loss.
The decrease in Indicative Net Asset Value was primarily due to a reduction in the CVI long position and net interest expense.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.