Slide 1: Icahn Enterprises L.P. Q1 2017 Earnings Presentation
Icahn Enterprises L.P. Q1 2017 Earnings Presentation May 9, 2017
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements and Non-GAAP Financial Measures The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward- looking statements we make in this presentation, including statements regarding our future performance and plans for our busines
Slide 3: Q1 2017 Highlights and Recent Developments
Q1 2017 Highlights and Recent Developments Board declared $1.50 quarterly dividend payable in either cash or additional units Net loss attributable to Icahn Enterprises for Q1 2017 was $18 million, compared to a net loss of $837 million for Q1 2016 On December 19, 2016, IEP entered into a defi
Slide 4: Consolidated Results
Consolidated Results Three Months Ended Consolidated Results March 31, ($ millions) 2017 2016 Select Income Statement Data: Revenues $4,677 $3,127 Expenses 4,811 4,720 Loss before income tax expense (134) (1,593) Income tax expense (26) (16) Net loss (160) (1,609) Less: net loss attributable to non
Slide 5: Financial Performance
Financial Performance Net Loss Attributable to Icahn Enterprises Adjusted EBITDA Attributable to Icahn Enterprises $412 ($18) ($70) ($837) Q1 2017 Q1 2016 Three Months Ended March 31, Three Months Ended March 31, ($ in millions) 2017 2016 ($ in millions) 2017 2016 Net (loss) income attributable to I
Slide 6: Segment: Investment
Segment: Investment Company Description Highlights and Recent Developments IEP invests its proprietary capital through various Returns of (2.7%) for Q1 2017 private investment funds (the “Funds”) managed From inception in November 2004, the Funds' gross return is approximately by the Investmen
Slide 7: Segment: Energy
Segment: Energy Company Description Highlights and Recent Developments CVR Energy, Inc. (NYSE:CVI) operates as a holding CVR Energy Q1 2017 Highlights company that owns majority interests in two ─ Announced Q1 2017 cash dividend of $0.50 per share separate operating subsidiaries: CVR Refining, L
Slide 8: Segment: Automotive
Segment: Automotive Company Description Highlights and Recent Developments We conduct our Automotive segment through our In January 2017, Icahn Enterprises completed the acquisition of all outstanding shares wholly owned subsidiaries Federal-Mogul LLC of Federal Mogul not already owned by Icahn
Slide 9: Segment: Railcar
Segment: Railcar Segment Description Highlights and Recent Developments American Railcar Industries, Inc. (NASDAQ:ARII) On December 19, 2016, IEP entered an agreement to sell ARL to SMBC Rail Services operates in three business segments: LLC for cash based on a total enterprise value of $3.364 b
Slide 10: Segment: Gaming
Segment: Gaming Company Description Highlights and Recent Developments We conduct our Gaming segment through our majority ownership in Tropicana and our wholly owned subsidiary, Gaming revenues decreased slightly for the three months ended March 31, Trump Entertainment Resorts, Inc. 2017 as comp
Slide 11: Segment: Food Packaging
Segment: Food Packaging Company Description Highlights and Recent Developments Viskase Companies, Inc (OTCPK:VKSC) is a Net sales for the three months ended March 31, 2017 increased by $13 million worldwide leader in the production and sale of or approximately 17% as compared to the correspondin
Slide 12: Segment: Metals
Segment: Metals Company Description Highlights and Recent Developments PSC Metals, Inc. is one of the largest independent Net sales for the three months ended March 31, 2017 increased by $45 million metal recycling companies in the U.S. or approximately 78% compared to the comparable prior year
Slide 13: Segment: Real Estate
Segment: Real Estate Company Description Highlights and Recent Developments Consists of rental real estate, property development Business strategy is based on long-term investment outlook and operational expertise and club operations Rental real estate consists primarily of retail, office Rent
Slide 14: Segment: Mining
Segment: Mining Company Description Highlights and Recent Developments IEP acquired a controlling interest in Ferrous Mining segment has been concentrating on sales in Brazil, where the best Resources on June 8, 2015 margins are being captured Ferrous Resources has certain rights to iron ore m
Slide 15: Segment: Home Fashion
Segment: Home Fashion Company Description Highlights and Recent Developments WestPoint Home LLC is engaged in Q1 2017 net sales were $47 million, down $3 million from Q1 2016 manufacturing, sourcing, marketing, distributing and selling home fashion consumer products Adjusted EBITDA was a loss
Slide 16: Financial Performance
Financial Performance 16
Slide 17: Liquidity Serves as a Competitive Advantage
Liquidity Serves as a Competitive Advantage ($Millions) The Company and its subsidiaries maintain ample liquidity to take advantage of attractive opportunities for their respective businesses Liquidity As of 3/31/2017 Liquid Assets: Hold Co. Cash & Cash Equivalents $337 IEP Interest in Investment
Slide 18: IEP Summary Financial Information
IEP Summary Financial Information Significant Valuation demonstrated by market value of IEP’s public subsidiaries and Holding Company interest in Funds and book value or market comparables of other assets As of ($ Millions) June 30 Sept 30 Dec 31 March 31 2016 2016 2016 2017 Market-valued Subsidia
Slide 19: Appendix: Adjusted EBITDA
Appendix Adjusted EBITDA 19
Slide 20: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company uses certain non-GAAP financial measures in evaluating its performance. These include non-GAAP EBITDA and Adjusted EBITDA. EBITDA represents earnings before interest expense, income tax (benefit) expense and depreciation and amortization. We define Adjusted EB
Slide 21: Adjusted EBITDA Reconciliation by Segment – Three Months Ended March 31, 2017
Adjusted EBITDA Reconciliation by Segment – Three Months Ended March 31, 2017 ($Millions) Food Real Home Holding Investment Automotive Energy Metals Railcar Gaming Mining Packaging Estate Fashion Company Consolidated Adjusted EBITDA: Net (loss) income ($192) $30 $28 $2 $52 ($4) $6 $2 $2 ($3) ($83) (
Slide 22: Adjusted EBITDA Reconciliation by Segment – Three Months Ended March 31, 2016
Adjusted EBITDA Reconciliation by Segment – Three Months Ended March 31, 2016 ($Millions) Food Real Home Holding Investment Automotive Energy Metals Railcar Gaming Mining Packaging Estate Fashion Company Consolidated Adjusted EBITDA: Net income (loss) ($983) $28 ($614) ($6) $50 $6 ($13) $4 $4 $0 ($8