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Icahn Enterprises IEP Energy — Renewable Fuel Standard Obligation

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Other financials

Income statement

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Revenue$3.0B+25.6%
Net income-$355.0M-115%
EPS (diluted)-$0.52-73.3%

Balance sheet

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Cash & equivalents$1.2B-32.3%
Total debt$6.9B-5.2%
Total assets$12.9B-13.1%

Cash flow

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Operating cash flow$116.0M-57.8%
CapEx$80.0M-16.7%
Free cash flow$36.0M

Valuation

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Market cap$5.42B+2.3%
Enterprise value$11.13B+3.0%
P/S0.5×0.0×

Profitability

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Gross margin-56.5%
Net margin-5%-1.1pp
FCF margin-2.3%

Returns & leverage

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Return on equity-0.1%
Debt / equity0.7×

Where this comes from

Reported directly by Icahn Enterprises in its filing.

Tagged under the XBRL concept iep:RenewableFuelStandardObligation.

The source filing: Icahn Enterprises’s 10-Q, filed August 5, 2026.

Filed
Aug 4, 2026, 8:00 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001104659-26-090605

The costs to comply with the RFS obligations through the purchase of RINs, to the extent not otherwise reduced through the blending of ethanol, biodiesel, or renewable diesel, are included in cost of goods sold in the consolidated statements of operations. At each reporting period, to the extent RINs purchased or generated through blending are less than the RFS obligation (excluding the impact of exemptions or waivers to which CVR Energy’s obligated-party subsidiaries may be entitled), the remaining obligation is valued using period-end RIN market prices for the applicable or nearest vintage year. As of June 30, 2026 and December 31, 2025, CVR Energy’s obligated-party subsidiaries’ RFS liability was $408 million and $72 million, respectively, and is included in accrued expenses and other liabilities in the condensed consolidated balance sheets.

Item 1. Financial Statements (Unaudited)

FAQ

What is Icahn Enterprises's energy — renewable fuel standard obligation?
Icahn Enterprises (IEP) reported energy — renewable fuel standard obligation of $408M in Q2 2026.
How has Icahn Enterprises's energy — renewable fuel standard obligation changed year-over-year?
Icahn Enterprises's energy — renewable fuel standard obligation decreased by 25.5% year-over-year, from $548M to $408M.
What is the long-term trend for Icahn Enterprises's energy — renewable fuel standard obligation?
Over 4 years (2021 to 2025), Icahn Enterprises's energy — renewable fuel standard obligation has grown at a -10.1% compound annual growth rate (CAGR), from $1.76B to $1.15B.
What does energy — renewable fuel standard obligation mean?
Measures the financial liability or cost burden associated with regulatory requirements to blend renewable fuels or purchase compliance credits. It is a critical indicator of regulatory risk and operational costs within the energy refining and distribution business.

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