Icahn Enterprises Slips To Loss In Q1
(RTTNews) - Icahn Enterprises L.P. (IEP) reported Wednesday a net loss attributable to Icahn Enterprises for the first quarter of $270 million or $0.75 per depositary unit, compared to net income of $323 million or $1.06 per depositary unit in the prior-year quarter.
Revenues for the quarter declined to $2.64 billion from $4.09 billion in the same quarter last year. Net sales also decreased to $2.76 billion from last year's $2.97 billion.
On Tuesday, the Board of Directors of the general partner of Icahn Enterprises declared a quarterly distribution in the amount of $2.00 per depositary unit, payable on or about June 30, 2023, to depositary unitholders of record at the close of business on May 22, 2023.
The company said depositary unitholders will have until June 20, 2023 to make a timely election to receive either cash or additional depositary units.
For the three months ended March 31, 2023, indicative net asset value was relatively flat at $5.6 billion compared to December 31, 2022.
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