Icahn Enterprises L.P. Reports Third Quarter 2016 Financial Results

NEW YORK, Nov. 03, 2016 (GLOBE NEWSWIRE) -- Icahn Enterprises L.P. (NASDAQ:IEP) is reporting third quarter 2016 revenues of $4.9 billion and net loss attributable to Icahn Enterprises of $16 million, or a loss of $0.12 per depositary unit.  For the third quarter of 2015 revenues were $3.2 billion and net loss attributable to Icahn Enterprises was $440 million, or a loss of $3.40 per depositary unit.  For the third quarter of 2016, Adjusted EBITDA attributable to Icahn Enterprises was $458 million compared to a loss of $31 million in the third quarter of 2015.  For the third quarter of 2016, Adjusted EBIT attributable to Icahn Enterprises was $267 million compared to a loss of $186 million in the third quarter of 2015.

For the nine months ended September 30, 2016, revenues were $12.4 billion and net loss attributable to Icahn Enterprises was $922 million, or a loss of $6.70 per depositary unit.  For the nine months ended September 30, 2015 revenues were $12.7 billion and net loss attributable to Icahn Enterprises was $67 million, or a loss of $0.53 per depositary unit.  For the nine months ended September 30, 2016, Adjusted EBITDA attributable to Icahn Enterprises was $685 million compared to $1.2 billion for the nine months ended September 30, 2015.  For the nine months ended September 30, 2016, Adjusted EBIT attributable to Icahn Enterprises was $129 million compared to $712 million for the nine months ended September 30, 2015. 

On November 1, 2016, the Board of Directors of the general partner of Icahn Enterprises declared a quarterly distribution in the amount of $1.50 per depositary unit. The quarterly distribution is payable in either cash or additional depositary units, at the election of each depositary unit holder and will be paid on or about December 19, 2016 to depositary unit holders of record at the close of business on November 14, 2016.

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