• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
An older man in a suit and tie working on a US Prosecutor Inquiry.

Icahn Enterprises Faces Setback Amidst Q1 Loss and US Prosecutor Inquiry

05/10/2023
IKEA Warns U.S. Shoppers May Face Higher Prices as New Tariffs Take Effect

IKEA Warns U.S. Shoppers May Face Higher Prices as New Tariffs Take Effect

10/01/2025
Trump Highlights Tariffs as Key to U.S. Economic Strategy

Trump Highlights Tariffs as Key to U.S. Economic Strategy

10/01/2025
Trump, Pfizer Reach Agreement on Drug Pricing and Tariff Exemption

Trump, Pfizer Reach Agreement on Drug Pricing and Tariff Exemption

10/01/2025
Tariffs, Trade and Preferences: What If AGOA Ends?

Tariffs, Trade and Preferences: What If AGOA Ends?

10/01/2025
Trump Unveils Tariffs on Timber, Furniture; Pfizer Secures Deal

Trump Unveils Tariffs on Timber, Furniture; Pfizer Secures Deal

10/01/2025
AIR-GO Consultants Limited Nominated for the Go Global Awards 2025

AIR-GO Consultants Limited Nominated for the Go Global Awards 2025

10/01/2025
Trump Announces Plan for 100% Tariff on International Film Imports

Trump Announces Plan for 100% Tariff on International Film Imports

09/30/2025
New U.S. Tariffs on Lumber and Furniture Could Affect Housing and Trade

New U.S. Tariffs on Lumber and Furniture Could Affect Housing and Trade

09/30/2025
Experts Question Trump’s Latest Tariffs on Kitchen and Bathroom Products

Experts Question Trump’s Latest Tariffs on Kitchen and Bathroom Products

09/30/2025
Casual Films Expands Global Reach with Creative Collaboration in Asia

Casual Films Expands Global Reach with Creative Collaboration in Asia

10/01/2025
Trump Sets 10% Tariff on Lumber, 25% on Furniture and Cabinets

Trump Sets 10% Tariff on Lumber, 25% on Furniture and Cabinets

09/30/2025
Trump Plans 100% Tariff on Foreign-Made Films Imported to U.S.

Trump Plans 100% Tariff on Foreign-Made Films Imported to U.S.

09/30/2025
supplychainreport
Sunday, October 5, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

Icahn Enterprises Faces Setback Amidst Q1 Loss and US Prosecutor Inquiry

by Richie
05/10/2023
in Industry, Manufacturing, Risk Management, Risk Mitigation

YOU MAY ALSO LIKE

AIR-GO Consultants Limited Nominated for the Go Global Awards 2025

Cellomatics Biosciences Limited Nominated for the Go Global Awards 2025

Billionaire investor Carl Icahn’s holding company, Icahn Enterprises LP (IEP), experienced a challenging period as it revealed a surprise quarterly loss and confirmed contact from US prosecutors. The development contributed to a 15 percent drop in IEP shares, further impacting Icahn’s efforts to defend against short selling, particularly in the aftermath of a critical report by Hindenburg Research.

The nature of the inquiry by US federal prosecutors remains unclear, leaving questions about potential connections to Hindenburg’s allegations. The report accused IEP of inflating the value of its holdings and operating a “Ponzi-like” scheme to fund dividends.

The setback for Icahn, known for his shareholder activism, marks a rare instance of facing scrutiny himself. Since the publication of Hindenburg’s report on May 2, IEP shares have lost nearly 40 percent of their value, amounting to almost $7 billion, and Icahn’s net worth, owning 85 percent of IEP, has similarly decreased by around $10 billion.

IEP addressed the prosecutor inquiries, stating that it received requests for information related to corporate governance, capitalization, securities offerings, dividends, valuation, marketing materials, and due diligence. The company emphasized its cooperation with the inquiry, clarifying that no claims or allegations have been made against it or Icahn by the US Attorney’s office.

Icahn defended IEP, dismissing Hindenburg’s report as “self-serving” and highlighting his commitment to the company’s integrity. Despite IEP’s reassurance about the sustainability of its dividend, concerns have arisen among some investors and legal experts, given the first-quarter loss and the ongoing scrutiny.

IEP reported a net loss of $270 million, attributing it to the bankruptcy of its car parts distributor, IEH Auto Parts Holding, with a one-time non-cash charge of $226 million. Excluding one-time items, the company posted a loss of 11 cents per share, missing analysts’ average estimate of a 19 cents profit.

Revenue for the first quarter, ending March 31, stood at $2.6 billion, compared to $4.1 billion in the previous year. Despite the challenges, IEP highlighted having $1.9 billion in cash and $4 billion in additional liquidity, affirming the standard industry valuation methods and citing instances where asset sale prices exceeded their stated marks.

Find the latest supply chain report news at The Supply Chain Report. For international trade tools, see ADAMftd.com.

#CarlIcahn #IcahnEnterprises #IEP #HindenburgResearch #USProsecutors #ShortSelling #QuarterlyLoss #PonziSchemeAllegations #InvestorActivism #CorporateGovernance #SecuritiesOfferings #ValuationConcerns #IEHAutoParts #Bankruptcy #InvestorConcerns #Dividends #HindenburgReport #FinancialScrutiny #LegalInquiry #ShareholderActivism #InvestmentNews

ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.