Business
Icahn Enterprises L.P. (Nasdaq: IEP) Today Announced Its Second Quarter 2024 Financial Results
SUNNY ISLES BEACH, Fla., Aug. 7, 2024 /PRNewswire/ -- Second quarter net loss attributable to IEP of $331 million, a decline of $62 million over prior year
About this update from Icahn Enterprises L.p.
[{"type":"text","content":"SUNNY ISLES BEACH, Fla., Aug. 7, 2024 /PRNewswire/ --\n\nSecond quarter net loss attributable to IEP of $331 million, a decline of $62 million over prior year quarter Second quarter Adjusted EBITDA attributable to IEP was a loss of $155 million, compared to $14 million for the prior year quarterIndicative Net Asset Value was approximately $4 billion as of June 30, 2024, a decrease of $969 million compared to March 31, 2024 IEP declares second quarter distribution of $1.00 per depositary unitFinancial Summary(Net loss and Adjusted EBITDA figures in commentary below are attributable to Icahn Enterprises, unless otherwise specified)\nFor the three months ended June 30, 2024, revenues were $2.2 billion and net loss was $331 million, or a loss of $0.72 per depositary unit. For the three months ended June 30, 2023, revenues were $2.6 billion and net loss was $269 million, or a loss of $0.72 per depositary unit. Adjusted EBITDA was a loss of $155 million for the three months ended June 30, 2024, compared to an Adjusted EBITDA of $14 million for the three months ended June 30, 2023.\nFor the six months ended June 30, 2024, revenues were $4.7 billion and net loss was $369 million, or a loss of $0.82 per depositary unit. For the six months ended June 30, 2023, revenues were $5.2 billion and net loss was $539 million, or a loss of $1.46 per depositary unit. Adjusted EBITDA was a loss of $21 million for the six months ended June 30, 2024, compared to an Adjusted EBITDA of $109 million for the six months ended June 30, 2023.\nAs of June 30, 2024, indicative net asset value decreased $969 million compared to March 31, 2024.\nOn August 5, 2024, the Board of Directors of the general partner of Icahn Enterprises declared a quarterly distribution in the amount of $1.00 per depositary unit, which will be paid on or about September 25, 2024, to depositary unitholders of record at the close of business on August 19, 2024. Depositary unitholders will have until September 13, 2024, to make a timely election to receive either cash or additional depositary units. If a unitholder does not make a timely election, it will automatically be deemed to have elected to receive the distribution in additional depositary units. Depositary unitholders who elect to receive (or who are deemed to have elected to receive) additional depositary units will receive units ...