By Dean Seal
Carl Icahn's investment firm recorded a much bigger loss in the first quarter as losses in the healthcare sector dinged the value of its assets.
Icahn Enterprises posted a loss of $422 million, or 79 cents a share, compared with a loss of $38 million, or 9 cents a share, in the same quarter a year earlier.
Revenue fell to $1.87 billion from $2.47 billion in the year-earlier quarter. Net asset value as of March 31 was $3 billion, down $336 million from the prior quarter.
The drop in asset value was primarily driven by $224 million in investment losses, primarily from the healthcare sector, the company said.
Shares fell 5.6% to $8.23 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 07, 2025 08:22 ET (12:22 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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