Daily Management Review

Carl Icahn's investment fund unexpectedly ends Q4 with a loss


The investment vehicle owned by billionaire Carl Icahn, Icahn Enterprises LP, surprised analysts by reporting a net loss for the fourth quarter of 2023.

In contrast to $255 million, or 74 cents per unit, a year earlier, the corporation reported a net loss of $139 million, or 33 cents each depositary unit, for the October–December quarter.

There was a decline from $3.280 billion to $2.644 billion in revenue.

FactSet surveyed experts who projected an average profit per unit of 21 cents on revenue of $2.358 billion.

As of December 31, the estimated net asset value of the investment fund was $4.76 billion, a decrease of approximately $411 million from September.

Icahn Enterprises' unit quotes rose by 13.5% throughout the previous three months.

source: reuters.com