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Icahn Enterprises turns to profit in Q3

Staff Writer | November 3, 2017
Icahn Enterprises reported a turnaround to profit in the third quarter on higher revenues.
Icahn Enterprises
Icahn Enterprises   Adjusted EBITDA was $567 million
Third-quarter net income attributable to Icahn Enterprises was $597 million or $3.53 per depositary unit, compared to net loss of $16 million or $0.12 per unit in the year-ago quarter.

Revenues for the quarter grew to $5.68 billion from $4.90 billion in the year-ago period.

Adjusted EBITDA attributable to Icahn Enterprises for the quarter was $567 million, compared to $467 million last year.

Adjusted EBIT was $364 million, compared to $276 million in the year-ago period.

On November 1, 2017, 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 20, 2017 to depositary unit holders of record at the close of business on November 13, 2017.