SUNNY ISLES BEACH, Fla., Jan. 9, 2025 /PRNewswire/ -- Icahn Enterprises L.P. (NASDAQ: IEP) ("IEP") and Icahn Enterprises Holdings L.P. ("IEH") today announced the results of IEH's cash tender offer for up to 17,753,322 shares of CVR Energy, Inc.'s (NYSE: CVI) ("CVR Energy") common stock, par value $0.01 per share, at a price per share of $18.25 (the "Offer"), which expired at 5:00 p.m., New York City time, on January 8, 2025. Based on the count by Broadridge Corporate Issuer Solutions, LLC, the depositary a ...

SUNNY ISLES BEACH, Fla., Jan. 6, 2025 /PRNewswire/ -- Icahn Enterprises L.P. (NASDAQ: IEP) ("IEP"), and Icahn Enterprises Holdings L.P. ("IEH"), today announced that the expiration time of its cash tender offer for up to 17,753,322 shares of CVR Energy, Inc.'s (NYSE: CVI) ("CVR Energy") common stock, par value $0.01 per share, at a price per share of $18.25 (the "Offer"), has been extended from one minute after 11:59 p.m., New York City time, on January 6, 2025 to 5:00 p.m., New York City time, on January 8 ...

SUNNY ISLES BEACH, Fla., Nov. 13, 2024 /PRNewswire/ -- Icahn Enterprises L.P. (NASDAQ: IEP) – Icahn Enterprises L.P. ("Icahn Enterprises") announced today that it, together with Icahn Enterprises Finance Corp. (together with Icahn Enterprises, the "Issuers"), priced their offering of $500,000,000 aggregate principal amount of 10.000% Senior Secured Notes due 2029 (the "Notes") in a private placement not registered under the Securities Act of 1933, as amended (the "Securities Act") (such offering, the "Notes ...

Equity and Financial Position - Equity attributable to Icahn Enterprises decreased from $3,208 million in December 2023 to $2,645 million in September 2024[9] - Total equity decreased from $6,073 million in December 2023 to $4,827 million in September 2024[9] - Total liabilities and equity decreased from $20,858 million in December 2023 to $17,443 million in September 2024[9] - Total equity attributable to Icahn Enterprises as of September 30, 2024, was $4,827 million, with a balance of $2,645 million in limited partners' equity and $2,182 million in non-controlling interests[16] - Total assets increased from $17.443 billion in 2023 to $20.858 billion in 2024, reflecting a growth of 19.6%[149][150] - Cash and cash equivalents rose from $2.294 billion in 2023 to $2.951 billion in 2024, a 28.6% increase[149][150] - Investments grew from $2.585 billion in 2023 to $3.012 billion in 2024, up 16.5%[149][150] - Total liabilities increased from $12.616 billion in 2023 to $14.785 billion in 2024, a 17.2% rise[149][150] - Debt rose from $6.447 billion in 2023 to $7.207 billion in 2024, up 11.8%[149][150] - Equity attributable to Icahn Enterprises increased from $2.645 billion in 2023 to $3.208 billion in 2024, a 21.3% growth[149][150] - Property, plant, and equipment net value grew from $3.865 billion in 2023 to $3.969 billion in 2024, up 2.7%[149][150] - Goodwill and intangible assets net value increased from $712 million in 2023 to $754 million in 2024, up 5.9%[149][150] - Inventories net value rose from $883 million in 2023 to $1.047 billion in 2024, a 18.6% increase[149][150] - Accounts receivable net value increased from $476 million in 2023 to $485 million in 2024, up 1.9%[149][150] Revenue and Net Income - Net sales for the three months ended September 30, 2024, were $2,221 million, compared to $2,991 million for the same period in 2023[10] - Net income (loss) attributable to Icahn Enterprises for the three months ended September 30, 2024, was $58 million, compared to a loss of $24 million for the same period in 2023[10] - Basic and diluted income (loss) per LP unit for the three months ended September 30, 2024, was $0.05, compared to a loss of $0.01 for the same period in 2023[10] - Comprehensive income (loss) attributable to Icahn Enterprises for the three months ended September 30, 2024, was $28 million, compared to a loss of $12 million for the same period in 2023[12] - Net income for the period ending September 30, 2024, was $80 million, with $22 million from operations and $58 million from other sources[16] - Net income (loss) attributable to Icahn Enterprises for September 2024 was $22 million, compared to a loss of $6 million in September 2023[130] - Basic and diluted income (loss) per LP unit for September 2024 was $0.05, compared to a loss of $0.01 in September 2023[130] - Net sales for the Energy segment reached $1.834 billion, contributing significantly to the total consolidated net sales of $2.221 billion[140] - The Automotive segment reported net sales of $206 million and other revenues from operations of $168 million, totaling $374 million in revenues[140] - Net gain from investment activities was $257 million, primarily driven by the Investment segment[140] - Net income attributable to Icahn Enterprises was $22 million, with the Investment segment contributing $192 million in net income[140] - Net sales for the Energy segment were $2.522 billion, contributing significantly to the consolidated net sales of $2.991 billion[141] - The Automotive segment reported other revenues from operations of $180 million, adding to the total other revenues of $203 million[141] - Net loss from investment activities was $332 million, impacting the overall financial performance[141] - Net loss attributable to Icahn Enterprises was $6 million, with the Energy segment showing a net income of $235 million[141] - Net sales for the nine months ended September 30, 2024, were $6.827 billion, with the Energy segment contributing $5.663 billion and the Automotive segment contributing $637 million[143] - Other revenues from operations totaled $566 million, with the Automotive segment contributing $504 million and the Real Estate segment contributing $59 million[143] - Net loss from investment activities was $318 million, primarily driven by the Investment segment[143] - Net loss attributable to Icahn Enterprises was $347 million, with the Holding Company contributing a loss of $207 million and the Investment segment contributing a loss of $88 million[143] - Consolidated net sales totaled $8,433 million, with Energy contributing $7,045 million and Automotive contributing $799 million[144] - Net loss from investment activities was $(1,275) million, significantly impacting overall performance[144] - Energy segment's petroleum products revenue for the nine months ended September 30, 2024, was $5,277 million, down from $6,505 million in 2023[146] - Automotive segment's total revenue from customers for the nine months ended September 30, 2024, was $1,096 million, compared to $1,283 million in 2023[147] - Net loss attributable to Icahn Enterprises was $(545) million, driven by a $(462) million loss in the Holding Company segment[144] - The Investment segment reported revenues of $334 million for the three months ended September 30, 2024, compared to $224 million in the same period in 2023[193] - The Energy segment reported a net loss of $134 million for the three months ended September 30, 2024, compared to a net income of $342 million in the same period in 2023[193] - Consolidated net income attributable to Icahn Enterprises was $22 million for the three months ended September 30, 2024, compared to a net loss of $6 million in the same period in 2023[193] - Investment Funds' net income for the three months ended September 30, 2024, was $296 million, compared to a loss of $297 million in 2023[201] Cash Flow and Financing Activities - Net cash provided by operating activities for the nine months ended September 30, 2024, was $588 million, compared to $3,621 million for the same period in 2023[21] - Net cash used in investing activities for the nine months ended September 30, 2024, was $226 million, primarily due to capital expenditures of $192 million[21] - Net cash used in financing activities for the nine months ended September 30, 2024, was $1,573 million, including $511 million in distributions to non-controlling interests[21] - The company's cash and cash equivalents decreased by $1,212 million to $4,734 million as of September 30, 2024, compared to $6,112 million as of September 30, 2023[21] - Cash held at consolidated affiliated partnerships was $808 million as of September 30, 2024, down from $1,068 million at December 31, 2023[48] - Restricted cash balance was $1,632 million as of September 30, 2024, compared to $1,927 million at December 31, 2023[49] - The company issued $750 million in aggregate principal amount of 9.000% senior unsecured notes due 2030 in May 2024, using the proceeds to redeem the remaining 6.375% senior unsecured notes due 2025[123] - During the three months ended September 30, 2024, the company sold 233,000 depositary units, generating $4 million in gross proceeds[135] - During the nine months ended September 30, 2024, the company sold 5,806,986 depositary units, generating $102 million in gross proceeds[135] - As of September 30, 2024, the company had repurchased $269 million worth of senior notes under the Repurchase Program[136] - The company is authorized to repurchase up to an additional $500 million worth of senior notes and $500 million of depositary units under the reapproved Repurchase Program[136] - Icahn Enterprises commenced an exchange offer for $700 million in senior notes due 2029 and $750 million in senior notes due 2030, which expired on October 17, 2024[181] Segment Performance - The Investment segment had interests with a fair value of approximately $2.7 billion as of September 30, 2024, compared to $3.2 billion as of December 31, 2023[26] - CVR Energy, part of the Energy segment, held approximately 66% of the total outstanding common stock of CVR Energy as of September 30, 2024[27] - Viskase, part of the Food Packaging segment, was approximately 91% owned by the company as of September 30, 2024[30] - The Automotive segment deconsolidated Auto Plus due to bankruptcy filings on January 31, 2023, impacting the segment's operations[29] - Pharma segment operates through Vivus LLC, which has two approved therapies and four product candidates in development[33] - Energy segment had $9 million of remaining performance obligations for contracts with durations over one year, with $1 million expected to be recognized by end of 2024[53] - Energy segment's deferred revenue was $68 million as of September 30, 2024, up from $49 million at December 31, 2023[54] - Automotive segment's deferred revenue for extended warranty plans was $39 million as of September 30, 2024, down from $45 million at December 31, 2023[55] - Auto Plus bankruptcy resulted in a non-cash charge of $246 million during the nine months ended September 30, 2023[62] - Investment Funds' fair market value of investments by Mr. Icahn and affiliates was $1.5 billion as of September 30, 2024, representing 35% of assets under management[64] - $14 million and $10 million were allocated to the Investment Funds for the nine months ended September 30, 2024 and 2023, respectively, based on the expense-sharing arrangement[65] - Total lease revenues from Auto Plus for the Automotive segment were $3 million for the eight months from January 31, 2023 to September 30, 2023[68] - Total inventory purchases from Auto Plus for the Automotive segment were $4 million for the eight months from January 31, 2023 to September 30, 2023[68] - Total lease revenues from Auto Plus for the Real Estate segment were $3 million for the eight months from January 31, 2023 to September 30, 2023[69] - AEP PLC acquired $10 million of assets, mostly Aftermarket Parts inventory, during the year ended December 31, 2023[70] - Brett Icahn had net redemptions of $4 million during the nine months ended September 30, 2024, and $9 million in the same period in 2023[71] - The fair market value of Brett Icahn's investments in the Investment Funds was $17 million as of September 30, 2024, compared to $28 million as of December 31, 2023[71] - The carrying value of investments and securities sold, not yet purchased, was $2,476 million as of September 30, 2024, compared to $2,898 million as of December 31, 2023[73] - The unrealized losses related to securities still held by the Investment segment were $(229) million for the nine months ended September 30, 2024, compared to $(286) million for the same period in 2023[73] - The estimated fair value of the company's note receivable from Auto Plus was $7 million at September 30, 2024[82] - The Investment Funds' equity contracts had a long notional exposure of $1,782 million and a short notional exposure of $1,912 million as of September 30, 2024, compared to $1,882 million and $2,350 million respectively as of December 31, 2023[92] - The short notional exposure for credit default swap positions was $0.8 billion as of September 30, 2024, down from $2.5 billion as of December 31, 2023, with downside exposure limited to $0.15 billion and $0.4 billion respectively[92] - The Investment Funds' derivative assets totaled $27 million as of September 30, 2024, down from $39 million as of December 31, 2023, while derivative liabilities decreased to $678 million from $979 million over the same period[94] - CVR Energy had swap positions for crack spreads that offset to zero as of September 30, 2024, compared to 11 million barrels outstanding as of December 31, 2023[99] - CVR Energy had open fixed-price commitments to purchase a net 27 million RINs as of September 30, 2024[99] - The Energy segment's derivative liabilities with credit-risk-related contingent features had an aggregate fair value of $5 million as of September 30, 2024, with $3 million in collateral posted[102] - Gains recognized on derivatives for the Energy segment were $2 million for the three months ended September 30, 2024, compared to losses of $106 million for the same period in 2023[103] - Related party notes receivable, net decreased to $7 million as of September 30, 2024 from $19 million as of December 31, 2023, with an allowance for expected credit losses of $12 million[104] - Inventories, net decreased to $883 million as of September 30, 2024 from $1,047 million as of December 31, 2023, driven by reductions in raw materials and finished goods[105] - The company's net carrying value of goodwill and intangible assets remained stable at $289 million as of September 30, 2024 compared to $288 million as of December 31, 2023[107] - Intangible assets, net decreased from $466 million as of December 31, 2023 to $423 million as of September 30, 2024, primarily due to amortization of definite-lived intangible assets[108][109] - Operating lease right-of-use assets decreased from $526 million as of December 31, 2023 to $520 million as of September 30, 2024, while lease liabilities decreased from $531 million to $524 million[111][113] - Total debt decreased from $7,207 million as of December 31, 2023 to $6,447 million as of September 30, 2024, driven by debt repurchases and redemptions[121][124][126] - The company repurchased $177 million aggregate principal amount of senior unsecured notes in August and September 2024 for total cash paid of $168 million[124] - CVR Energy's total availability under its ABL credit facilities increased to $329 million as of September 30, 2024, up from $275 million previously[127] - Lease cost for the nine months ended September 30, 2024 was $132 million for operating leases, $6 million for amortization of financing lease right-of-use assets, and $5 million for interest expense on financing lease liabilities[116] - The Automotive segment accounted for $106 million of total lease cost for the nine months ended September 30, 2024, down from $108 million in the prior year period[117] - Revenues from operating leases in the Automotive segment were $45 million for the nine months ended September 30, 2024, up from $43 million in the prior year period[118] - The Real Estate segment's revenue from operating leases decreased to $7 million for the nine months ended September 30, 2024, down from $15 million in the prior year period[119] - The company incurred a total interest expense of $130 million, with the Holding Company segment accounting for $80 million of this expense[140] - Capital expenditures totaled $58 million, with the Energy segment accounting for $34 million of this amount[140] - Depreciation and amortization expenses were $126 million, with the Energy segment contributing $90 million[140] - The company reported a net loss of $134 million in the Energy segment, partially offset by a net income of $296 million in the Investment segment[140] - The Real Estate segment generated $6 million in net sales and $23 million in other revenues from operations, totaling $30 million in revenues[140] - The Pharma segment reported net sales of $27 million and other income of $1 million, contributing $29 million to the consolidated revenues[140] - Cost of goods sold for the Energy segment was $2.048 billion, making up a large portion of the total cost of goods sold of $2.377 billion[141] - Selling, general, and administrative expenses amounted to $209 million, with the Automotive segment accounting for $116 million[141] - Capital expenditures for the Energy segment were $50 million, contributing to the total capital expenditures of $70 million[141] - Capital expenditures totaled $192 million, with the Energy segment accounting for $124 million and the Automotive segment accounting for $40 million[143] - Depreciation and amortization expenses were $382 million, with the Energy segment accounting for $272 million and the Automotive segment accounting for $56 million[143] - Capital expenditures for the period were $201 million, with Energy accounting for $150 million[144] - Depreciation and amortization expenses totaled $384 million, with Energy contributing $269 million[144] - Selling, general, and administrative expenses were $653 million, with Automotive accounting for $362 million[144] - Investment segment's fair market value decreased from $3.2 billion in 2023 to $2.7 billion in 2024[195] - Investment Funds' returns for the three months ended September 30, 2024, were 7.6%, compared to (4.4)% in 2023

Icahn Enterprises L.P. (NASDAQ:IEP) Q3 2024 Earnings Conference Call November 8, 2024 10:00 AM ET Company Participants Andrew Teno – President and Chief Executive Officer Ted Papapostolou – Chief Financial Officer Robert Flint – Chief Accounting Officer Conference Call Participants Dan Fannon – Jefferies Andrew Berg – Post Advisory Group Bruce Monrad – Northeast Investors Trust Operator Good morning, and welcome to Icahn Enterprises L.P. Third Quarter 2024 Earnings Call with Andrew Teno, President and CEO; ...

Q3 2024 Earnings Presentation November 8, 2024 Icahn Enterprises L.P. 1 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 businesses and potential acquisitions. Forward-looking statements may be identified by words such as "expects," "anticipates," "intends," "plans," " ...

Exhibit 99.1 Icahn Enterprises L.P. (Nasdaq: IEP) Today Announced Its Third Quarter 2024 Financial Results Sunny Isles Beach, Fla, November 8, 2024 – Chairman Carl C. Icahn stated, "I strongly believe that our portfolio – both for the investment segment and the controlled businesses – has significant opportunities ahead. Rarely have I seen a stock market with such extreme valuations – with some companies trading at unjustifiable premiums and others being massively undervalued. These undervalued situations h ...

SUNNY ISLES BEACH, Fla., Nov. 8, 2024 /PRNewswire/ -- Chairman Carl C. Icahn stated, "I strongly believe that our portfolio – both for the investment segment and the controlled businesses – has significant opportunities ahead. Rarely have I seen a stock market with such extreme valuations – with some companies trading at unjustifiable premiums and others being massively undervalued. These undervalued situations have created great opportunities for activists. To take advantage of these opportunities when the ...

SUNNY ISLES BEACH, Fla., Oct. 25, 2024 /PRNewswire/ -- Icahn Enterprises L.P. (Nasdaq:IEP) announced today that it will discuss its third quarter 2024 results on a webcast on Friday, November 8, 2024 - 10:00 a.m. Eastern Time. To access the webcast, viewers should go to this link (webcast). We encourage viewers to access the webcast 15 minutes ahead of the scheduled start time. A replay of the webcast will also be available for at least twelve months at Icahn events and presentations. Icahn Enterprises L.P. ...

The primary goal of the Cash Flow Kingdom Income Portfolio is to produce an overall yield in the 7% - 10% range. We accomplish this by combining several different income streams to form an attractive, steady portfolio payout. The portfolio's price can fluctuate, but the income stream remains consistent. Start your free two-week trial today! Icahn Enterprises L.P. (NASDAQ: IEP ) saw its shares rally substantially this week when the market got the news that a lawsuit related to allegations by Hindenburg Resea ...