Business
Icahn Enterprises L.P. Reports Third Quarter 2020 Financial Results
Third quarter net loss attributable to Icahn Enterprises of $714 million, or a loss $3.14 per depositary unitBoard approves quarterly distribution of $2.00
About this update from Icahn Enterprises L.p.
[{"type":"text","content":"Third quarter net loss attributable to Icahn Enterprises of $714 million, or a loss $3.14 per depositary unitBoard approves quarterly distribution of $2.00 per depositary unit SUNNY ISLES BEACH, Fla., Nov. 06, 2020 (GLOBE NEWSWIRE) -- Icahn Enterprises L.P. (NASDAQ:IEP) is reporting third quarter 2020 revenues of $722 million and net loss attributable to Icahn Enterprises of $714 million, or a loss of $3.14 per depositary unit. For the three months ended September 30, 2019, revenues were $2.3 billion and net loss attributable to Icahn Enterprises was $49 million, or a loss of $0.24 per depositary unit. For the three months ended September 30, 2020, Adjusted EBITDA attributable to Icahn Enterprises was $(550) million compared to $(121) million for the three months ended September 30, 2019. For the three months ended September 30, 2020, Adjusted EBIT attributable to Icahn Enterprises was $(637) million compared to $(209) million for the three months ended September 30, 2019.\n For the nine months ended September 30, 2020, revenues were $3.4 billion and net loss attributable to Icahn Enterprises was $1.8 billion, or a loss of $8.12 per depositary unit. For the nine months ended September 30, 2019, revenues were $6.4 billion and net loss attributable to Icahn Enterprises was $941 million, or a loss of $4.68 per depositary unit, including a loss of $917 million from continuing operations, or $4.56 per depositary unit. For the nine months ended September 30, 2020, Adjusted EBITDA attributable to Icahn Enterprises was $(1.2) billion compared to $(573) million for the nine months ended September 30, 2019. For the nine months ended September 30, 2020, Adjusted EBIT attributable to Icahn Enterprises was $(1.4) billion compared to $(840) million for the nine months ended September 30, 2019. On November 4, 2020, 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 December 29, 2020 to depositary unitholders of record at the close of business on November 24, 2020. Depositary unitholders will have until December 17, 2020 to make an election to receive either cash or additional depositary units; if a unitholder does not make an election, it will automatically be deemed to have elected to receive the distribution in cash. D...