Icahn Enterprises L.p (IEP) Q3 2015 10-Q Quarterly Earnings

Short answer

Icahn Enterprises L.p (IEP) filed its Q3 2015 10-Q quarterly report on Nov 9, 2015 for the quarter ended Sep 30, 2015.

AI summary of MD&A and risk factor updates

Revenue $3.212B, down $1.210B YoY from $4.422B, driven by Investment losses and lower Energy sales
Automotive best performer: sales $1.987B vs $1.890B, gross margin 16% vs 14%
Metals worst performer: gross margin loss 11% vs 1%, revenue down 51% to $94M
Holding Company cash $182M, total debt approximately $5.5B; consolidated cash $2.041B
Capital deployment: $1.859B investing outflows, including $463M Railcar capital expenditures and $855M acquisitions
Near-term headwinds: weak steel demand, volatile oil prices, uncertain energy railcar demand, estimated 2015 RIN costs $100M to $125M

Newly added Mining exposure: Ferrous Resources became consolidated after June 2015 control acquisition, amid depressed iron ore prices
Most material market risk: Energy Fertilizer reporting unit only 1% above impairment threshold, with $253 million goodwill exposed to sales-growth shortfalls
Regulatory and legal risk: CVR Partners’ Rentech merger remains subject to closing conditions, including Pasadena facility sale or spin-off
Operational risk: Federal-Mogul expects $50 million additional restructuring and other charges through 2018
Financial risk: Investment Funds’ written put maximum payout rose to $5.7 billion from $2.5 billion at December 31, 2014

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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