Icahn Enterprises LP

Icahn Enterprises L.P., through its subsidiaries engages in the investment, energy, automotive, food packaging, real estate, home fashion and pharma in the United States and internationally. The Investment segment invests its proprietary capital through various private investment funds; and it provides investment advisory, administrative, and back-office services to the investment funds. The Energy segment engages in refining and marketing petroleum in the form of gasoline, diesel, jet fuel, and distillates; renewable fuels business refines renewable feedstocks, such as soybean oil, corn oil, and other related renewable feedstocks into renewable diesel and markets renewable products; and nitrogen fertilizer business produces and markets nitrogen fertilizers in the form of urea ammonium nitrate and ammonia. The Automotive segment engages in repair and maintenance of automotive; sale of installed parts or materials related to automotive services; and sale of automotive aftermarket parts and retailed merchandise. The Food Packaging segment produces and sells cellulosic, fibrous, and plastic casings used to prepare and pack processed meat products. The Real Estate segment consists of investment properties, including land, retail, office, and industrial properties; and development and sale of single-family homes; and the operations of a resort and two country clubs. The Home Fashion segment manufactures, sources, markets, distributes, and sells home fashion consumer products. The Pharma segment offers pharmaceutical products and services; and develops approved therapies and product candidates. Icahn Enterprises L.P. was incorporated in 1987 and is headquartered in Sunny Isles Beach, Florida.

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Icahn Enterprises to sell Pep Boys to Mavis in $700 million deal

Icahn Enterprises has agreed to sell automotive service chain Pep Boys to Mavis Tire Express Services in a transaction valued at about $700 million in cash, according to a Wall Street Journal report citing people familiar with the matter. The deal is expected to be formally announced on Tuesday. Icahn Enterprises bought Pep Boys in 2016 for roughly $1 billion in cash. Pep Boys operates nearly 800 locations across the United States and Puerto Rico, which would complement Mavis' existing network of about 3,600 stores. The acquisition supports Mavis' long-term growth strategy, with the company expecting to open about 120 new stores in 2026 and more than 160 locations annually from 2027 through 2030, according to a Fitch Ratings note.

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General industrial machinery stocks beat Q1 revenue estimates by 3.3%

The 14 general industrial machinery stocks tracked by StockStory reported a strong first quarter, with aggregate revenues beating analysts' consensus estimates by 3.3% and next-quarter revenue guidance coming in 1.6% above expectations. Honeywell posted revenues of $9.14 billion, up 2.4% year on year but missing estimates by 1.4%, and delivered the weakest full-year guidance update of the group. Albany International was the best performer, with revenues of $311.3 million beating estimates by 10.8%, while Icahn Enterprises had the weakest quarter, missing analysts' adjusted operating income and EPS estimates significantly. L.B. Foster delivered the biggest analyst estimate beat among its peers, with revenues of $121.1 million surpassing expectations by 16.2%. Share prices of the group have been resilient, up 9.9% on average since the latest earnings results.

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