SUNNY ISLES BEACH, Fla., Nov. 06, 2020 (GLOBE NEWSWIRE) -- Icahn Enterprises L.P. (NASDAQ:IEP) is reporting third quarter 2020 revenues of $722 million and net loss attributable to Icahn Enterprises of $714 million, or a loss of $3.14 per depositary unit. For the three months ended September 30, 2019, revenues were $2.3 billion and net loss attributable to Icahn Enterprises was $49 million, or a loss of $0.24 per depositary unit. For the three months ended September 30, 2020, Adjusted EBITDA attributable to Icahn Enterprises was $(550) million compared to $(121) million for the three months ended September 30, 2019. For the three months ended September 30, 2020, Adjusted EBIT attributable to Icahn Enterprises was $(637) million compared to $(209) million for the three months ended September 30, 2019.

For the nine months ended September 30, 2020, revenues were $3.4 billion and net loss attributable to Icahn Enterprises was $1.8 billion, or a loss of $8.12 per depositary unit. For the nine months ended September 30, 2019, revenues were $6.4 billion and net loss attributable to Icahn Enterprises was $941 million, or a loss of $4.68 per depositary unit, including a loss of $917 million from continuing operations, or $4.56 per depositary unit. For the nine months ended September 30, 2020, Adjusted EBITDA attributable to Icahn Enterprises was $(1.2) billion compared to $(573) million for the nine months ended September 30, 2019. For the nine months ended September 30, 2020, Adjusted EBIT attributable to Icahn Enterprises was $(1.4) billion compared to $(840) million for the nine months ended September 30, 2019.

On November 4, 2020, the Board of Directors of the general partner of Icahn Enterprises declared a quarterly distribution in the amount of $2.00 per depositary unit, which will be paid on or about December 29, 2020 to depositary unitholders of record at the close of business on November 24, 2020. Depositary unitholders will have until December 17, 2020 to make an election to receive either cash or additional depositary units; if a unitholder does not make an election, it will automatically be deemed to have elected to receive the distribution in cash. Depositary unitholders who elect to receive additional depositary units will receive units valued at the volume weighted average trading price of the units on NASDAQ during the 5 consecutive trading days ending December 24, 2020. No fractional depositary units will be issued pursuant to the distribution payment. Icahn Enterprises will make a cash payment in lieu of issuing fractional depositary units to any unitholders electing to receive depositary units. Any unitholders that would only be eligible to receive a fraction of a depositary unit based on the above calculation will receive a cash payment.

Icahn Enterprises L.P., a master limited partnership, is a diversified holding company engaged in seven primary business segments: Investment, Energy, Automotive, Food Packaging, Metals, Real Estate and Home Fashion.