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Icahn Enterprises (IEP) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 31, 2026

TBA (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

0.11

Last Year’s EPS

-0.3

Same Quarter Last Year

Analyst Consensus

―

Based on 0 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:May 06, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call presented a mixed picture: clear operational and portfolio highlights (NAV up $201M, strong CVI contribution and dividend, solid liquidity of ~$2.8B at the holding company and $1.3B at subsidiaries, positive standalone fund performance excluding hedges, several portfolio companies showing stock and operational gains, and certain segment improvements). However, large, concentrated losses tied to refining hedges and energy derivatives (totaling several hundred million), a sizeable net loss ($459M), negative adjusted EBITDA for the quarter, increased net short exposure in the funds, and multiple segment-level EBITDA declines tempered the positives. Management emphasized liquidity, positioning, and opportunities ahead, but near-term financials were materially impacted by hedging and market-driven headwinds.

Company Guidance

Management's guidance emphasized disciplined capital allocation and strong liquidity to pursue opportunities, with several specific targets and outlooks: AEP reaffirmed its 2026 operating EPS outlook and raised long‑term operating earnings CAGR to >9%, supported by 63 GW of incremental contracted load and 11% rate base growth through 2030; Centuri guided to strong double‑digit base‑revenue and gross‑profit growth in 2026; Caesars is expected to generate significant 2026 cash flow to fund meaningful share repurchases and debt paydown; CVI announced a $0.10 dividend and is positioned to enable potential future debt reductions and capital returns; the Board maintained the distribution at $0.50 per depositary unit. Management also noted Q1 metrics that frame the outlook: NAV up $201 million (driven by a $605 million increase in the CVI long), Q1 adjusted EBITDA loss attributable to IEP of $216 million (net loss $459 million, or $0.71 per unit), investment funds +4.4% excl. refining hedges (−8.2% incl. hedges) with refining‑hedge losses of roughly $320–425 million, net short notional exposure 29% (2% excl. hedges), crude utilization 97%, holding‑company cash & investments ~$2.8 billion, subsidiary cash and revolver availability ~$1.3 billion, cash at the funds ~$782 million, and IEP’s investment in the funds ~ $2.2 billion.

Net Asset Value Increase

Quarterly NAV increased by $201 million vs. year-end, primarily driven by a $605 million increase in the long position in CVI.

CVI Performance and Dividend

CVI contribution up materially (driving NAV lift); company announced a $0.10 dividend and management views CVI as well positioned for potential debt reduction and shareholder returns.

Investment Funds Performance (Excluding Refining Hedges)

Investment segment returned +4.4% for the quarter excluding refining hedges; long and other positions had +4.1% attribution. Investment in the funds was approximately $2.2 billion.

Strong Portfolio Company Moves and Stock Gains

Notable portfolio company performance in Q1: AEP stock +~14% (reaffirmed 2026 outlook and raised long-term CAGR to >9%); Centuri stock +~16% (Q4 base revenue +28% and gross profit +50% and guiding strong double-digit growth); Caesars +~13%; IFF +~8%; Echostar +~8%.

Liquidity Position

Holding company had $2.8 billion in cash and investments in the funds; subsidiaries had $1.3 billion of cash and revolver availability; funds cash approx. $782 million as of quarter end.

Operational Strength in Energy and Fertilizer

Refining utilization was strong at 97%; Fertilizer segment delivered strong results driven by robust demand for spring planting, and management highlighted global tightness in refined products and nitrogen fertilizer as supportive.

Real Estate and Other Positive Segment Results

Real Estate adjusted EBITDA increased by $18 million vs. prior year quarter; Automotive same-store sales increased ~2%, indicating positive revenue trajectory in stores that remained open.

Clinical Development Progress

Pharma Transocean PAH trial preparation on schedule with first patient expected to be dosed in 60–90 days; physician community positive about potential outcomes.

Distribution Maintained

Board declared an unchanged distribution of $0.50 per depositary unit, maintaining cash return to unitholders.

Icahn Enterprises (IEP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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IEP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Play Transcript
Jul 31, 2026	2026 (Q2)	0.11 / -	-0.3	―	―
May 06, 2026	2026 (Q1)	0.10 / -0.71	-0.79	10.13% (+0.08)
Feb 25, 2026	2025 (Q4)	0.17 / 0.00	-0.19	―
Nov 07, 2025	2025 (Q3)	0.14 / 0.49	0.05	880.00% (+0.44)
Aug 04, 2025	2025 (Q2)	0.14 / -0.30	-0.72	58.33% (+0.42)
May 07, 2025	2025 (Q1)	0.19 / -0.79	-0.09	-777.78% (-0.70)
Feb 26, 2025	2024 (Q4)	0.18 / -0.19	-0.33	42.42% (+0.14)
Nov 08, 2024	2024 (Q3)	0.21 / 0.05	-0.01	600.00% (+0.06)
Aug 07, 2024	2024 (Q2)	0.19 / -0.72	-0.72	0.00% (0.00)
May 08, 2024	2024 (Q1)	0.25 / -0.09	-0.75	88.00% (+0.66)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

IEP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 06, 2026	$7.82	$7.46	-4.68%
Feb 25, 2026	$6.82	$7.02	+3.04%
Nov 07, 2025	$7.60	$7.35	-3.29%
Aug 04, 2025	$7.06	$7.04	-0.34%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.