Icahn Enterprises L.p (IEP) Q1 2018 10-Q Quarterly Earnings

Short answer

Icahn Enterprises L.p (IEP) filed its Q1 2018 10-Q quarterly report on May 3, 2018 for the quarter ended Mar 31, 2018.

AI summary of MD&A and risk factor updates

Revenue $5.445B, up $778M, 17% YoY from $4.667B
Automotive revenue $2.751B, up $159M YoY, largest segment, gross margin 18% vs 19%
Home Fashion revenue down $5M, 11% YoY, worst segment, gross margin 14% vs 15%
Net cash used in operating activities $595M vs $473M YoY, Automotive investment $190M
Holding Company cash $199M, debt approximately $5.5B, Federal-Mogul and Tropicana sale agreements expected to close in second half of 2018

Newly triggered investment-company classification risk: Federal-Mogul sale could require reliance on a one-year Investment Company Act exemption
Most material regulatory update, Renewable Fuel Standard inquiry: U.S. Attorney subpoenaed Icahn Enterprises information in September 2017
Operational risk, Federal-Mogul divestiture: $5.4 billion sale includes restrictions on Tenneco-share sales during the first 150 days
Financial risk, pension underfunding: Controlled-group obligations expose Icahn Enterprises to approximately $417 million in unfunded liabilities
Legal risk, railcar compliance: FRA directive leaves $9 million reserve for inspections, testing and potential repairs

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

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