Filing Flows › Icahn Enterprises L.P. (IEP) › Q4 2025
Icahn Enterprises L.P. (IEP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Icahn Enterprises L.P. (IEP) reported revenue of $2.7B for the fourth quarter 2025 (Q4 2025), +5% from a year earlier and -1% from the quarter before. Operating margin was 0.6%, net earnings $44.0M (1.6% of revenue).
Icahn Enterprises L.P., Q4 2025: revenue $2.7B (+5% year over year), operating margin 0.6%, net earnings $44.0M, operating cash flow −$421M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.7B | -1% | +5% |
| Operating profit | $17.0M | -97% | — |
| Net earnings | $44.0M | -89% | — |
| Operating cash flow | −$421M | -2907% | — |
What changed
Revenue was $2.7B in Q4 2025, up 5% year over year and down 1% from the previous quarter. Energy Segment was the largest line at 67% of revenue.
Operating profit was $0.02B, a 0.6% margin (up 5.8 points year over year). Total costs fell 0% while revenue rose 5%. Net earnings were $1.0M. The tax line was a benefit of $0.03B on pre-tax earnings of $0.02B.
Operating cash flow was −$0.42B. Non-cash charges added back $0.20B of depreciation and amortization. Working capital and other items used $0.66B. Capital expenditures of $0.07B exceeded it, leaving free cash flow of −$0.50B.
Questions
What was Icahn Enterprises L.P.'s revenue in the fourth quarter 2025?
Icahn Enterprises L.P.
Was Icahn Enterprises L.P. profitable in the fourth quarter 2025?
Operating profit was $17.0M (0.6% of revenue) and net earnings $44.0M.