Icahn Enterprises LP (NAS:IEP)

Q4 2024 Icahn Enterprises LP Earnings Call Transcript

Feb 26, 2025 / 03:00 PM GMT

Release Date Price: $10.03 (-2.24%)

Transcript 10-K8-K

Key Points

Positve

Icahn Enterprises LP (IEP) maintained a strong liquidity position with $1.4 billion in cash and cash equivalents at the holding company and an additional $915 million at the funds.
The real estate segment saw a significant increase of $292 million due to property sales and fair value adjustments.
The board maintained the quarterly distribution at $0.50 per depositary unit, reflecting confidence in cash flow stability.
The energy segment's renewable margin improved significantly, with a positive margin per vegetable oil throughput gallon compared to a loss in the prior year.
The company has a robust activist strategy, leveraging its brand and history to drive shareholder value through proxy contests and board collaborations.

Negative

Net Asset Value (NAV) decreased by $223 million from the third quarter of 2024, primarily due to a decline in CVR Energy.
The energy segment's EBITA decreased significantly from $204 million in Q4 2023 to $99 million in Q4 2024, driven by reduced throughput and lower crack spreads.
The automotive segment continues to underperform due to previous strategic missteps, with expectations for normalization only by the second half of 2025.
Investment funds were down approximately 1.6% for the quarter, with significant declines in investments like Caesars.
Real estate adjusted EBITA decreased by $5 million compared to the prior year, driven by reduced sales of single-family homes.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

IEP.OQ - Icahn Enterprises LP
Q4 2024 Icahn Enterprises LP Earnings Call
Feb 26, 2025 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the ICANN Enterprises LP 4th quarter 2024 earnings call.

At this time, all participants are in a listen-only mode.

We'll have Andrew Tao, President and CEO Ted Papapostolo, Chief Financial Officer, and Robert Flynt, Chief Accounting Officer. I would now like to hand the call over to Robert Flint, who will read the opening statement.

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Unidentified_2 [2]
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Thank you operator.

The Private Securities Litigation Reform Act of 1,995 provides a safe harbor for forward-looking statements we make in this

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