Key Points – Second-quarter results worsened: Icahn Enterprises reported a $355 million net loss, or $0.52 per depositary unit, compared with a $165 million loss a year earlier.
Adjusted EBITDA swung to a $134 million loss from $40 million of positive EBITDA. – Pep Boys sale expected to improve liquidity: IEP agreed to sell Pep Boys for $700 million, with closing expected in the third quarter
Proceeds will partly address upcoming debt maturities, while IEP retains related real estate, franchise businesses and certain liabilities. – Investment-fund losses weighed on NAV, while energy improved: The funds posted a negative 7.7% return excluding refining hedges, contributing to a $765 million quarterly NAV decline. Energy adjusted EBITDA rose to $102 million from $40 million, helped by strong refining utilization and fertilizer demand. – 3 High Dividend Stocks To Beat Treasury Yields Icahn Enterprises (NASDAQ:IEP) reported a second-quarter 2026 net loss attributable to the company of $355 million, or $0.52 per depositary unit, compared with a $165 million loss, or $0.30 per unit, a year earlier. Adjusted EBITDA attributable to IEP was a loss of $134 million, compared with adjusted EBITDA of $40 million in the prior-year quarter.
President and CEO Ted Papapostolou said indicative net asset value declined by $765 million from the first quarter, primarily reflecting a $243 million decrease in the investment funds and a $435 million decline at CVI. The second-quarter NAV included an estimated gain of about $100 million from the anticipated sale of Pep Boys. – Is This The Collapse of Icahn Enterprises ? Updating market-value subsidiaries and investments through July, Papapostolou said NAV increased by $268 million, as a $575 million increase at CVI more than offset an approximately $312 million decline in the funds.