SHARPE
Reported results
- Revenues were $3.2 billion for the three months ended September 30, 2026, compared to $2.7 billion for the three months ended September 30, 2025.
- GAAP net loss attributable to IEP was $225 million, or a loss of $0.31 per depositary unit, for Q3 2026, compared to GAAP net income attributable to IEP of $287 million, or $0.49 per depositary unit, for Q3 2025.
- Non-GAAP Adjusted EBITDA loss attributable to IEP was $214 million for Q3 2026, compared to non-GAAP Adjusted EBITDA attributable to IEP of $75 million for Q3 2025.
- Indicative Net Asset Value was approximately $3.5 billion as of September 30, 2026, an increase of $865 million compared to June 30, 2026.
- IEP declared a third quarter distribution of $0.50 per depositary unit.
Notes
Effective March 31, 2026, IEP modified its calculation of non-GAAP Adjusted EBITDA to exclude certain Energy segment results, and the presentation of Adjusted EBITDA for Q3 2025 was prepared using this modified calculation.
Price and volatility reaction
The stock moved +3.7% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -2.7 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 5.16 | 2026-11-02 |
| Close after release | 5.35 | 2026-11-03 |
| Realised move | +3.7% | close to close |
| 30d ATM IV change | -2.7 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-11-03 (8-K, Item 2.02). Read the original filing on sec.gov.