Icahn Enterprises Reports Q3 2026 Financial Results Amidst Market Volatility
Icahn Enterprises reported a third-quarter net loss of $225 million, largely driven by refining hedge losses, while indicative net asset value increased by $865 million.
Icahn Enterprises L.P. announced its financial results for the third quarter of 2026, reporting a net loss of $225 million compared to a net income of $287 million in the same period last year. The results were significantly impacted by $522 million in losses tied to refining hedges within its investment funds.
Despite the quarterly net loss, the company’s indicative net asset value (NAV) rose to $3.5 billion as of September 30, 2026, marking an increase of $865 million over the previous quarter. This growth is primarily attributed to a $1.7 billion valuation gain in the company’s long position in CVR Energy. CVR Energy also recently announced a $4.2 billion acquisition of refineries and infrastructure from Marathon Petroleum, a move expected to scale its pro forma earnings.
The board declared a quarterly distribution of $0.50 per depositary unit, marking the 86th consecutive distribution since 2005. Unitholders have the option to receive the payout in either cash or additional units by December 11, 2026.