Icahn Enterprises L.P. (NASDAQ:IEP) shares are trading higher Wednesday morning on the heels of the company’s third-quarter financial results. Here’s what you need to know.
- IEP is surging to new heights today. Follow the breaking news here.
Q3 Highlights: Icahn Enterprises reported third-quarter revenue of $2.32 billion, missing analyst estimates of $2.40 billion, according to Benzinga Pro. The company reported third-quarter earnings of 49 cents per share, easily topping estimates of 14 cents per share.
Adjusted EBITDA was $383 million in the third quarter, versus $183 million in the prior year’s quarter.
Indicative net asset value increased $567 million during the period. The company’s board declared a quarterly distribution of 50 cents per depositary unit to be paid on or about Dec. 24 to unitholders of records as of Nov. 17.
Icahn Enterprises is a diversified holding company owning subsidiaries currently engaged in investment, energy, automotive, food packaging, real estate, home fashion and pharma.
How To Buy IEP Stock
By now you're likely curious about how to participate in the market for Icahn Enterprises – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
IEP Price Action: Icahn Enterprises shares were up 7.40% at $8.71 at the time of publication on Wednesday, according to Benzinga Pro.
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