Icahn Enterprises Shares Dip After Q2 Revenue Misses Estimates
Portfolio Pulse from Erica Kollmann
Icahn Enterprises L.P. (NASDAQ: IEP) shares fell after the company reported Q2 revenue of $2.2 billion, missing analyst estimates and marking a 13.39% decrease from last year. The company also reported a net loss of $331 million and a decrease in indicative net asset value by $969 million. Despite this, the board declared a quarterly distribution of $1.00 per depositary unit.
August 07, 2024 | 4:36 pm
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Icahn Enterprises reported Q2 revenue of $2.2 billion, missing estimates and down 13.39% YoY. The company posted a net loss of $331 million and saw a $969 million decrease in indicative net asset value. Shares fell 3.97% to $16.08.
The significant revenue miss and net loss are likely to negatively impact investor sentiment in the short term. The decrease in indicative net asset value further adds to the negative outlook. The declared distribution may provide some support but is unlikely to offset the overall negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100