Icahn Enterprises Swings To Profit

Icahn Enterprises LP IEP, -0.36% reported first quarter-earnings before the opening bell Thursday. Here's what you need to know:

REVENUE: Sales jumped 15% to $5.4 billion, roughly matching analysts' expectations.

EARNINGS: The company swung to a profit of $137 million, or 77 cents a share, compared with a loss of $18 million, or 12 cents a share, a year earlier. Wall Street estimated earnings of 58 cents a share.

ASSETS: The company ended the quarter with an indicative net asset value of $8.1 billion, compared with $7.9 billion as of Dec. 31.

STOCK MOVE: Shares, inactive premarket, have climbed 27% so far this year, while the S&P 500 has dropped 1.4%.

Write to Imani Moise at imani.moise@wsj.com

RECENT NEWS

What Advisers Misunderstand About Protection

Protection is rarely rejected outright. More often, it is misunderstood. Most advisers recognise th... Read more

Gyrostat Market Outlook: Looking Beyond The 30-day Volatility Headlines

This outlook examines how financial markets are pricing risk rather than attempting to forecast market... Read more

Gyrostat Capital Management: The Hidden Assumption In Most Portfolios - Stability

Markets do not usually fail portfolios. Assumptions do. Most portfolios are built with car... Read more

Gyrostat February Outlook: Stewardship As Risk Reprices

This monthly outlook examines how financial markets are pricing risk, rather than attempting to forecast ... Read more

Gyrostat Capital Management: Why Risk Management Is Not About Predicting Risk

Why Risk Management is Not About Predicting Risk Financial markets reward confidence, but they punish certai... Read more

Gyrostat January Outlook: Calm At Multiyear Extremes

This monthly Gyrostat Risk-Managed Market Outlook does not attempt to forecast market direction. Its p... Read more