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ICAHN ENTERPRISES L.P. Icahn Enterprises L.P. Reports First Quarter 2022 Financial Results May 6 , 2022 • IEP reports first quarter net income attributable to IEP of $ 323 million and Adjusted EBITDA attributable to IEP of $ 616 million . This represents an improvement of $ 161 of net income attributable to IEP and $ 181 of Adjusted EBITDA attributable to IEP compared to Q1 2021 . • Indicative Net Asset Value increased by $ 1.1 billion as of March 31 , 2022 compared to December 31 , 2021. The change in indicative net asset value includes , among other things , changes in the fair value of certain subsidiaries which are not included in our GAAP earnings . • Board approves quarterly distribution of $ 2.00 per depositary unit ( the 68th consecutive quarterly distribution since 2005 ) SUNNY ISLES BEACH , Fla . , May 2022 / PRNewswire / -- Icahn Enterprises L.P. ( Nasdaq : IEP ) is reporting first quarter 2022 revenues of $ 4.1 billion and net income attributable to Icahn Enterprises of $ 323 million , or $ 1.06 per depositary unit . For the three months ended March 31 , 2021 , revenues were $ 3.4 billion and net income attributable to Icahn Enterprises was $ 162 million , or $ 0.65 per depositary unit . For the three months ended March 31 , 2022 , Adjusted EBITDA attributable to Icahn Enterprises was $ 616 million compared to $ 435 million for the three months ended March 31 , 2021 . Indicative Net Asset Value increased by $ 1.1 billion as of March 31 , 2022 compared to December 31 , 2021. The change in indicative net asset value includes , among other things , changes in the fair value of certain subsidiaries which are not included in our GAAP earnings reported above . On May 4 , 2022 , 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 June 29 , 2022 , to depositary unitholders of record at the close of business on May 20 , 2022. Depositary unitholders will have until June 16 , 2022 , to make a timely election to receive either cash or additional depositary units . If a unitholder does not make a timely election , it will automatically be deemed to have elected to receive the distribution in additional depositary units . Depositary unitholders who elect to receive ( or who are deemed to have elected to receive ) additional depositary units will receive units valued at the volume weighted average trading price of the units during the five consecutive trading days ending June 24 , 2022. Icahn Enterprises will make a cash payment in lieu of issuing fractional depositary units to any unitholders electing to receive ( or who are deemed to have elected to receive ) depositary units . Icahn Enterprises L.P. , a master limited partnership , is a diversified holding company owning subsidiaries currently engaged in the following continuing operating businesses : Investment , Energy , Automotive , Food Packaging , Real Estate , Home Fashion and Pharma . Caution Concerning Forward - Looking Statements Results for any interim period are not necessarily indicative of results for any full fiscal period . This release may contain certain " forward - looking statements " within the meaning of the Private Securities Litigation Reform Act of 1995 , many of which are beyond our ability to control or predict . Forward - looking statements may be identified by words such as " expects , " " anticipates , " " intends , " " plans , " " believes , " " seeks , " " estimates , " " will " or words of similar meaning and include , but are not limited to , statements about the expected future business and financial performance of Icahn Enterprises and its subsidiaries . Actual events , results and outcomes may differ materially from our expectations due to a variety of known and unknown risks , uncertainties and other factors , including risks related to economic downturns , substantial competition and rising operating costs ; risks related to the severity , magnitude and duration of the COVID - 19 pandemic and its impact on the global economy , financial markets and industries in which our subsidiaries operate ; the impacts from the Russia / Ukraine conflict , including economic volatility and the impacts of export controls and other economic sanctions , risks related to our investment activities , including the nature of the investments made by the private funds in which we invest , declines in the fair value of our investments as a result of the COVID - 19 pandemic , losses in the private funds and loss of key employees ; risks related to our ability to continue to conduct our activities in a manner so as to not be deemed an investment company under the Investment Company Act of 1940 , as amended ; risks related to our energy business , including the volatility and availability of crude oil , other feed stocks and refined products , declines in global demand for crude oil , refined products and liquid transportation fuels as a result of the COVID - 19 pandemic , unfavorable refining margin ( crack spread ) , interrupted access to pipelines , significant fluctuations in nitrogen fertilizer demand in the agricultural industry and seasonality of results ; risks related to our automotive activities and exposure to adverse conditions in the automotive industry , including as a result of the COVID - 19 pandemic ; risks related to our food packaging activities , including competition from better capitalized competitors , inability of our suppliers to timely deliver raw materials , and the failure to effectively respond to industry changes in casings technology ; supply chain issues ; inflation , including increased costs of raw materials and shipping , including as a result of the Russia / Ukraine conflict ; labor shortages and workforce availability ; risks related to our real estate activities , including the extent of any tenant bankruptcies and insolvencies ; risks related to our home fashion operations , including changes in the availability and price of raw materials , and changes in transportation costs and delivery times ; and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission . Additionally , there may be other factors not presently known to us or which we currently consider to be immaterial that may cause our actual results to differ materially from the forward - looking statements . Past performance in our Investment segment is not indicative of future performance . We undertake no obligation to publicly update or review any forward - looking information , whether as a result of new information , future developments or otherwise .