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This statistic highlights Icahn Enterprises’ Revenue by Segment, split across Automotive, Energy, Food packaging, Holding Company, Home Fashion, Investment, Pharma, and Real Estate, reported quarterly from Q1 2016 onwards.
|Segment||2023 Q1||Revenue Mix by Segment for 2023 Q1|
(All figures in USD millions, except percentages)
Icahn Enterprises’ revenue is primarily driven by the energy segment, accounting for 83.5% of total revenue in Q1. The automotive segment contributes 10%, while investment, food packaging, home fashion, pharma, real estate, and holding company segments account for less than 10%. Food packaging and Pharma experienced the fastest growth, while energy experienced the slowest growth, only 0.97% year-over-year.
Icahn Enterprises’ automotive segment includes Federal-Mogul, Precision Auto Care, and American Driveline Systems, offering automotive components, services, and driveline components. Federal-Mogul supplies bearings, filters, brake systems, and engine components, Precision Auto Care offers tire rotations and brake repairs.
Icahn Enterprises’ energy segment comprises CVR Energy, a refiner and marketer of crude oil and refined products, Verde Energy Partners, a renewable energy developer, and NRG Yield, a diversified renewable energy company. The segment accounted for 76.7% of Icahn Enterprises’ revenue in 2022, but its performance can be volatile due to oil and gas prices. This is by far the largest contributor to Icahn Enterprises’ Revenue by Segment.
Icahn Enterprises’ food packaging segment comprises Alticor, Inc., a holding company with Amcor, Bemis, and Sealed Air businesses, and Verso Corporation, a paper and packaging company. In 2022, the segment generated 3% of Icahn Enterprises’ revenue.
Icahn Enterprises’ holding company segment comprises Icahn Enterprises L.P., a parent company, Icahn Enterprises Holdings L.P., a subsidiary, and Icahn Capital LP, a private investment firm. In 2022, the holding company segment accounted for 0.6% of Icahn Enterprises’ revenue.
Icahn Enterprises’ home fashion segment includes WestPoint Home LLC, a manufacturer, and provider of home textile products. In 2022, it accounted for 1.5% of revenue, but its performance can be volatile due to the cyclical nature of the industry.
The Investment segment comprises private investment funds with general partner interests, investing in proprietary capital. They offer advisory and administrative services to these funds, not to other entities or accounts. This segment covers investments in public and private entities and investment management activities.
Icahn Enterprises’ pharma segment includes Vivus LLC, a specialty pharmaceutical company for obesity and diabetes treatments, and Qsymia, a weight loss medication approved by the FDA in 2012. The segment accounted for 0.5% of Icahn Enterprises’ revenue in 2022.
Icahn Enterprises’ real estate segment comprises investment properties, property development, and club operations, accounting for 0.8% of the company’s revenue in 2022. These businesses include office and industrial properties, single-family home construction and sales, and country club operations.
About Icahn Enterprises
Carl Icahn founded Icahn Enterprises LLC in 1987, a publicly traded American conglomerate with 85% ownership. With over 10,000 employees worldwide, Icahn has invested in various industries, including energy, automotive, food packaging, metals, real estate, and home fashion. IEP is a publicly traded limited liability partnership that allows investors to participate in Icahn Enterprises’ operations and investments, listed on the New York Stock Exchange.
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