Icahn Enterprises L.P. (IEP) saw its loss narrow to $206 million, or $1.42 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $1,127 million, or $8.56 a share. Revenue during the quarter surged 54.85 percent to $3,972 million from $2,565 million in the previous year period. Gross margin for the quarter period stood at positive 12.81 percent as compared to a negative 19.61 percent for the previous year period. Operating margin for the quarter stood at negative 9.97 percent as compared to a negative 76.61 percent for the previous year period.
Operating loss for the quarter was $396 million, compared with an operating loss of $1,965 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $0.08 million compared to negative $0.81 million in the prior year second quarter.
Debt comes down
Icahn Enterprises L.P. has recorded a decline in total debt over the last one year. It stood at $11.12 million as on Dec. 31, 2016, down 11.71 percent or $1.47 million from $12.59 million on Dec. 31, 2015. Icahn Enterprises L.P. has recorded a decline in short-term debt over the last one year. It stood at $11.12 million as on Dec. 31, 2016, down 11.71 percent or $1.47 million from $12.59 million on Dec. 31, 2015.
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