Icahn reports $1.1B loss with lower sales

摘要

Icahn Enterprises L.R fell $1.1 billion into the red in fiscal 2019 on 8.1 lower sales of $9.72 billion, a performance the company blamed in large part on losses at its Icahn Automotive Group L.L.C. and investment business units. The net loss contrasts with net income of $1.48 billion in fiscal 2018. At Icahn Automotive — parent of Pep Boys and Auto Plus — the pre-tax operating loss (EBITDA) surged 66.7 to $80 million on 0.9 higher sales of $2.88 billion. The unit's new loss was trimmed by 14.3 to $197 million, the company said.