Equities
Icahn Enterprises' Q1 Net Loss Narrows, Revenue Rises; Names Ted Papapostolou CEO
Icahn Enterprises (IEP) reported a Q1 net loss Wednesday of $0.71 per depository unit, narrowing from a loss of $0.79 a year earlier.One analysts surveyed by FactSet expected earnings of $0.10.Revenue for the quarter ended March 31 was $2.31 billion, compared with $2 billion a year earlier.One analyst surveyed by FactSet expected $2.33 billion.The company also promoted Chief Financial Officer Ted Papapostolou, to president and chief executive, starting Wednesday. It said former President and Chief Executive Andrew Teno has resigned and is departing the company to relocate with his family to another state, and will pursue another opportunity closer to his new home.Shares of Icahn Enterprises were down nearly 5% pre-bell.
$IEP