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2012 Net Income Attributable to Icahn Enterprises of $396 million
2012 Full Year Adjusted EBITDA attributable to Icahn Enterprises of $1.5 billion
Board Announced Increase of Annual Distribution to $4.00 per depository unit
NEW YORK, March 15, 2013 (GLOBE NEWSWIRE)
-- Icahn Enterprises L.P. (Nasdaq:IEP) is reporting revenues of $15.7 billion for the year ended December 31, 2012, and net income attributable to Icahn Enterprises of $396 million, or $3.75 per LP unit. For the full year 2011, revenues were $11.8 billion and net income attributable to Icahn Enterprises was $750 million, or $8.15 per LP unit.
For the fourth quarter of 2012, revenues were $4.2 billion and net income attributable to Icahn Enterprises was $6 million, or $0.06 per LP unit. Fourth quarter results were negatively impacted by scheduled turnarounds at CVR Energy's Wynnewood refinery and Coffeyville fertilizer plant. For the fourth quarter of 2011, revenues were $3.2 billion and net income attributable to Icahn Enterprises was $260 million, or $2.81 per LP unit.
Mr. Icahn stated: "IEP has started the year with very strong results. The indicative net asset value per IEP unit has increased from $56 per unit on December 31, 2012 to $67 per unit as of March 13, 2013, an approximate 20% increase over the period. We are excited about the investment opportunities we are seeing across our operating segments. All in all, we believe that the future of IEP is very bright." Management's calculations of indicative net asset value as of December 31, 2012 and March 13, 2013 are shown at the end of this release.
Adjusted EBITDA attributable to Icahn Enterprises was $1.5 billion for 2012 compared to $1.5 billion for 2011. For the fourth quarter of 2012, Adjusted EBITDA attributable to Icahn Enterprises was $0.3 billion compared to $0.5 billion in the fourth quarter of 2011.