DivestmentAug 7, 2026, 05:18 PM
Icahn Enterprises to Sell Pep Boys for $700M
AI Summary
Icahn Enterprises L.P. announced that its Icahn Automotive Group LLC entered into an agreement in July 2026 to sell Pep Boys – Manny Moe & Jack Holding Corp. for $700 million. The company also provided updated financial information as of June 30, 2026, and for the twelve months ended June 30, 2026, including a consolidated net loss attributable to IEP of $526 million and positive adjusted EBITDA of $32 million. Additionally, Icahn Enterprises highlighted its $2.00 annualized distribution and dividend declarations from its Energy segment subsidiaries.
Key Highlights
- Icahn Automotive Group to sell Pep Boys for $700 million in July 2026.
- Consolidated Total Assets were $12.9 billion as of June 30, 2026.
- Consolidated Net Sales and Other Revenue from Operations were $10.5 billion for LTM June 30, 2026.
- Consolidated Net Loss Attributable to IEP was $526 million for LTM June 30, 2026.
- Consolidated Adjusted EBITDA Attributable to IEP was $32 million for LTM June 30, 2026.
- IEP declared a $2.00 annualized distribution, yielding 26.21% as of August 6, 2026.
- CVR Energy declared Q2 2026 cash dividend of $0.10 per share.
- Indicative Net Asset Value was $2.6 billion as of June 30, 2026.
Price Impact
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