Icahn Enterprises Q2 Net Income Soars - Quick Facts

(RTTNews) - Icahn Enterprises L.P. (IEP), a master limited partnership, reported Tuesday that its second-quarter net income attributable to Icahn Enterprises was $489 million or $4.06 per depositary unit, compared to last year's $54 million or $0.48 per depositary unit.

For the quarter, adjusted net income attributable to Icahn Enterprises was $520 million, or $4.32 per depositary unit, after adding back the loss on extinguishment of debt.

The company said the prior year results did not have any gains or losses on extinguishment of debt.

Revenues for the quarter grew to $6.38 billion from $4.67 billion a year ago. Net sales increased to $4.87 billion from last year's $4.50 billion.

Adjusted EBITDA attributable to Icahn Enterprises was $880 million, up 220% from the prior year. Adjusted EBIT attributable to Icahn Enterprises was $738 million, compared to $162 million a year ago.

Further, the company said the Board of Directors of the general partner of Icahn Enterprises on July 31 declared a quarterly distribution in the amount of $1.50 per depositary unit.