Icahn Enterprises Q2 Net Loss $355M; NAV Down $765M

Icahn Enterprises L.P. announced its second quarter 2026 financial results, reporting a net loss attributable to IEP of $355 million, significantly wider than the $165 million loss in Q2 2025. The Adjusted EBITDA loss attributable to IEP also increased to $134 million from $40 million in the prior year. The indicative Net Asset Value decreased by $765 million to $2.6 billion as of June 30, 2026, primarily due to a $435 million decrease in its CVI long position and $243 million in losses from broad market hedges. Despite the losses, the company declared a quarterly distribution of $0.50 per depositary unit, and Chairman Carl Icahn expressed optimism about the long-term value of controlled positions like CVR Energy and ongoing adjustments to the hedge portfolio.