Icahn Enterprises Reports $422M Q1 Loss Amid Revenue Decline

Icahn Enterprises reported a significantly wider net loss of $422 million, or $0.79 per share, in the first quarter, compared to a $38 million loss a year earlier, as revenue dropped to about $1.9-$2 billion from approximately $2.5 billion in Q1 2024. The company's performance fell short of analyst expectations, with revenue missing consensus estimates by a substantial margin and Adjusted EBITDA turning negative at -$287 million, largely due to $224 million in losses in the Investment segment, particularly within the healthcare sector. Net asset value declined by $336 million to around $3 billion. Despite these challenges, Icahn Enterprises maintained its quarterly distribution of $0.50 per depositary unit. Analysts remain split on the company's long-term prospects, with some suggesting potential upside but noting underperformance relative to sector averages and a history of inconsistent growth. The results highlight ongoing operational difficulties across the company's diversified portfolio, especially in investment-heavy areas.