Icahn Enterprises L.p (IEP) Q2 2018 10-Q Quarterly Earnings

Short answer

Icahn Enterprises L.p (IEP) filed its Q2 2018 10-Q quarterly report on Aug 2, 2018 for the quarter ended Jun 30, 2018.

AI summary of MD&A and risk factor updates

Revenue $3,578M, down from $4,465M YoY, reflecting discontinued operations and prior-year ARL disposition
Automotive gross margin 32% vs 29% YoY, strongest operating improvement with net sales and services revenue up $43M
Energy revenue $1,914M, up $480M or 33% YoY, gross margin 7% vs 1%
Holding Company cash $79M and debt $5,505M at June 30, 2018
Operating cash flow $(486)M, including $240M Automotive investment and $48M distributions paid; Federal-Mogul and Tropicana sales expected second half 2018

New investment-company risk: Federal-Mogul and Tropicana sale agreements could leave Icahn Enterprises subject to ’40 Act classification after Federal-Mogul closes
Regulatory risk: CVR Refining’s RIN compliance cost reached $50 million in the quarter despite Renewable Fuel Standard obligations
Legal risk: Southern District of New York subpoena seeks information on Renewable Fuels Standard activities and Mr. Icahn’s presidential advisory role
Operational risk: FRA tank-car directive requires inspection, testing and potential repairs for remaining 85% by December 31, 2025
Financial risk: Controlled-group pension exposure includes approximately $435 million of underfunded termination liabilities

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

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