- Icahn Enterprises ( NASDAQ: IEP ), founded by billionaire activist investor Carl Icahn, saw its fourth-quarter revenue surpass the average Wall Street estimate Friday, but slid from the prior quarter as investment losses swelled in the face of continued market volatility.
- Q4 revenue of $3.10B, topping the average analyst estimate of $2.97B, slid from $3.40B in Q3 and rose from $2.32B in the year-ago period.
- Net loss from investment activities was $478M compared with a net loss of $187M for the three months ended Sept. 30, 2022, and a net loss of $842M for the three months ended Dec. 31, 2021.
- Expenses totaled $3.57B, down from $3.63B in Q3 and up from $3.28B a year before.
- Adjusted EBITDA attributable to IEP ( IEP ) came in at -$54M vs. $70M in Q3 and -$443M in Q4 2021.
- Indicative net asset value of $5.64B decreased from $6.16B in Q3 and advanced from $5.12B in the year-earlier quarter.
- Earlier, Icahn Enterprises GAAP EPS of -$0.74, revenue of $3.1B .
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Icahn Enterprises turns in Q4 revenue beat despite deeper investment losses