Business
Icahn Enterprises L.P. (Nasdaq: IEP) Today Announced Its Second Quarter 2023 Financial Results
For the three months ended June 30, 2023, net loss attributable to Icahn Enterprises was $269 million, or $0.72 per depositary unit. This compares to net loss
About this update from Icahn Enterprises L.p.
[{"type":"text","content":"For the three months ended June 30, 2023, net loss attributable to Icahn Enterprises was $269 million, or $0.72 per depositary unit. This compares to net loss attributable to Icahn Enterprises of $128 million, or $0.41 per depositary unit during the prior year period. For the three months ended June 30, 2023, Adjusted EBITDA attributable to Icahn Enterprises was $34 million compared to $126 million during the prior year periodFor the six months ended June 30, 2023, net loss attributable to Icahn Enterprises was $539 million, or $1.46 per depositary unit. This compares to net income attributable to Icahn Enterprises of $195 million, or $0.64 per depositary unit during the prior year period. For the six months ended June 30, 2023, Adjusted EBITDA attributable to Icahn Enterprises was $150 million compared to $742 million during the prior year periodIndicative net asset value decreased to $5.0 billion as of June 30, 2023 compared to $5.6 billion as of December 31, 2022. The change in indicative net asset value includes, among other things, changes in the fair value of certain subsidiaries which are not included in our GAAP earningsSUNNY ISLES BEACH, Fla., Aug. 4, 2023 /PRNewswire/ -- Icahn makes statement about earnings and distributions.\nCarl Icahn, Chairman of IEP, said: \"I believe the second quarter partially reflected the impact of short-selling on companies we control or invest in, which I attribute to the misleading and self-serving Hindenburg report concerning our company. It also reflected the size of the hedge book relative to our activist strategy. \nSubsequent to the quarter, I have entered into a three-year term loan agreement with my personal lenders (see Form 8-K filed on July 10, 2023) which in my opinion has significantly diffused the effects of the misleading Hindenburg report, and focused on our activist strategy and reduced our hedge book. These actions have been a major factor in what I believe is IEP turning the corner in July. In the month of July, our publicly traded securities, which are included in our indicative net asset value, experienced over a $500 million increase in value, net of all hedge positions. \nOver the last 23 years, IEP has paid significant distributions to unitholders. I believe it is compelling that if you purchased 1,000 IEP depositary units in January 2000, for $7.63 per unit and elec...