Business
Icahn Enterprises L.P. Reports First Quarter 2022 Financial Results
IEP reports first quarter net income attributable to IEP of $323 million and Adjusted EBITDA attributable to IEP of $616 million. This represents an
About this update from Icahn Enterprises L.p.
[{"type":"text","content":"IEP reports first quarter net income attributable to IEP of $323 million and Adjusted EBITDA attributable to IEP of $616 million. This represents an improvement of $161 of net income attributable to IEP and $181 of Adjusted EBITDA attributable to IEP compared to Q1 2021.Indicative Net Asset Value increased by $1.1 billion as of March 31, 2022 compared to December 31, 2021. 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 earnings.Board approves quarterly distribution of $2.00 per depositary unit (the 68th consecutive quarterly distribution since 2005)SUNNY ISLES BEACH, Fla., May 6, 2022 /PRNewswire/ -- Icahn Enterprises L.P. (Nasdaq:IEP) is reporting first quarter 2022 revenues of $4.1 billion and net income attributable to Icahn Enterprises of $323 million, or $1.06 per depositary unit. For the three months ended March 31, 2021, revenues were $3.4 billion and net income attributable to Icahn Enterprises was $162 million, or $0.65 per depositary unit. For the three months ended March 31, 2022, Adjusted EBITDA attributable to Icahn Enterprises was $616 million compared to $435 million for the three months ended March 31, 2021.\nIndicative Net Asset Value increased by $1.1 billion as of March 31, 2022 compared to December 31, 2021. 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 earnings reported above.\nOn May 4, 2022, the Board of Directors of the general partner of Icahn Enterprises declared a quarterly distribution in the amount of $2.00 per depositary unit, which will be paid on or about June 29, 2022, to depositary unitholders of record at the close of business on May 20, 2022. Depositary unitholders will have until June 16, 2022, 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 valued at the volume weighted average trading price of the units during the five consecutive trading days ending Jun...