AI Earnings Predictions for Icahn Enterprises L.P. (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.

Page 1  of 9

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

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.e618d017.1786388532.cf8d3efb

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.c706d217.1784333167.cc813cc8

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.