IEP

EX-99.1

2 tm2628850d1_ex99-1.htm

EXHIBIT 99.1

Exhibit 99.1

Icahn Enterprises L.P. (Nasdaq: IEP) Today Announced Its Third Quarter 2026 Financial Results

Sunny Isles Beach, Fla, November 3, 2026 –

·Indicative Net Asset Value was approximately $3.5 billion as of September 30, 2026, an increase of $865 million compared to June 30, 2026. This increase was primarily due to an increase of approximately $1.7 billion in the value of our long position in our majority owned subsidiary, CVI (which is currently valued at $4.2 billion1), offset in part with a decrease of $522 million related to losses on refining hedges in the Investment Funds attributable to IEP.

·IEP declares third quarter distribution of $0.50 per depositary unit (the 86th consecutive quarterly distribution since 2005).

·Net loss attributable to IEP was $225 million for Q3 2026, compared to net income of $287 million for Q3 2025. Q3 2026 net loss included $522 million of losses on refining hedges in the Investment Funds attributable to IEP but does not include the increase in value of approximately $1.7 billion from our long position in CVI.

·Adjusted EBITDA attributable to IEP was a loss of $214 million for Q3 2026, compared to Adjusted EBITDA of $75 million for Q3 2025. Q3 2026 Adjusted EBITDA included $522 million of losses on refining hedges in the Investment Funds attributable to IEP but does not include the increase in value of approximately $1.7 billion from our long position in CVI.

·CVR Energy announced a transformative transaction to acquire two refineries and a marketing platform from Marathon Petroleum for $4.2 billion purchase price which represents less than 3.5 times management’s estimate of 2026 EBITDA.

Financial Summary

For the three months ended September 30, 2026, revenues were $3.2 billion and net loss attributable to IEP was $225 million, or a loss of $0.31 per depositary unit. For the three months ended September 30, 2025, revenues were $2.7 billion and net income attributable to IEP was $287 million, or $0.49 per depositary unit. Adjusted EBITDA loss attributable to IEP was $214 million for the three months ended September 30, 2026, compared to Adjusted EBITDA attributable to IEP of $75 million for the three months ended September 30, 2025.2 Net loss attributable to IEP and Adjusted EBITDA loss attributable to IEP for the three months ended September 30, 2026, were negatively impacted by losses of $522 million on refining hedges in the Investment Funds attributable to IEP but does not include the increase in value of approximately $1.7 billion from our long position in CVI.

For the nine months ended September 30, 2026, revenues were $8.4 billion and net loss attributable to IEP was $1.0 billion, or a loss of $1.51 per depositary unit. For the nine months ended September 30, 2025, revenues were $7.0 billion and net loss attributable to IEP was $300 million, or a loss of $0.54 per depositary unit. Adjusted EBITDA loss attributable to IEP was $564 million for the nine months ended September 30, 2026, compared to Adjusted EBITDA loss attributable to IEP of $113 million for the nine months ended September 30, 2025.2 Net loss attributable to IEP and Adjusted EBITDA loss attributable to IEP for the nine months ended September 30, 2026, were negatively impacted by losses of $917 million on refining hedges in the Investment Funds attributable to IEP but does not include the increase in value of approximately $1.8 billion from our long position in CVI.

1 Based on October 30, 2026, closing price of $58.37.

2 The presentation of Adjusted EBITDA in this release for Q3 2025 has been prepared using a calculation with different exclusions than what has been used when preparing Adjusted EBITDA for prior periods, including our prior presentation of Adjusted EBIDA for Q3 2025. See “Uses of Non-GAAP Financial Measures” at the end of this press release for additional explanation of the updates in our

presentation.

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As of September 30, 2026, indicative net asset value increased $865 million compared to June 30, 2026. This increase was primarily due to an increase of approximately $1.7 billion in the value of our long position in CVI, offset in part with a decrease of $522 million related to losses on refining hedges in the Investment Funds attributable to IEP.

CVR Energy announced a transformative transaction to acquire two refineries and a marketing platform from Marathon Petroleum for $4.2 billion purchase price which represents less than 3.5 times management’s estimate of 2026 EBITDA. For the nine months ended September 30, 2026, the Acquisition increases CVR’s EBITDA from approximately $900 million, on a stand-alone basis, to approximately $2.0 billion, on a pro forma basis. Additionally, earnings per share increases from $3.73 per share, on a stand-alone basis, to $7.80 per share, on a pro forma basis, an accretion in earnings per share of over 105% for stockholders. These figures do not include $75 million in future

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