Icahn Enterprises L.P (IEP) saw its loss narrow to $18 million, or $0.12 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $837 million, or $6.21 a share. Revenue during the quarter surged 49.57 percent to $4,677 million from $3,127 million in the previous year period. Gross margin for the quarter expanded 1997 basis points over the previous year period to 20.10 percent. Operating margin for the quarter period stood at positive 1.90 percent as compared to a negative 43.24 percent for the previous year period.
Operating income for the quarter was $89 million, compared with an operating loss of $1,352 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $380 million compared to negative $444 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 8.12 percent for the quarter compared to negative 14.20 percent in the last year period.
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