Icahn Enterprises Q2 Loss Widens; Shares Tumble Over 34% In Pre-market

(RTTNews) - Icahn Enterprises L.P. (IEP), a diversified holding company, on Friday reported wider loss for the second-quarter, amidst a decline in revenue.

Following the release of the second-quarter results, IEP was trading down by 34.73 percent at $21.35 per share in the pre-market trading on the Nasdaq.

Carl Icahn, Chairman of IEP, said: "I believe the second quarter partially reflected the impact of short-selling on companies we control or invest in, which I attribute to the misleading and self-serving Hindenburg report concerning our company. It also reflected the size of the hedge book relative to our activist strategy…"

For the three-month period, the company registered a net loss of $269 million or $0.72 per unit, compared with $128 million or $0.41 per unit in loss posted for the same period of previous year.

Pre-tax loss was at $417 million, versus $285 million in loss a year ago.

Excluding items, EBITDA stood at $34 million, lesser than $126 million of last year.

Revenue moved down to $2.540 billion from previous year's $3.503 billion.