Icahn Enterprises Sees FY 2011 Revenues of $12B vs $9.1B Year Ago
Icahn Enterprises L.P. (Nasdaq: IEP), announced today preliminary, unaudited financial and operating results for the twelve months ended December 31, 2011 with revenue and earnings growth over the comparable prior year period. Icahn Enterprises estimates that revenues will be approximately $12 billion (as compared to $9.1 billion for the twelve months ended December 31, 2010) and net income attributable to Icahn Enterprises will be approximately $750 million for the twelve months ended December 31, 2011, or approximately $8.33 per depositary unit (compared to net income of $199 million, or $2.34 per depositary unit, for the twelve months ended December 31, 2010).
These preliminary results are the result of the performance of Icahn Enterprises' various private investment funds as well as the operating performance of its other subsidiaries. The Funds had gross returns of approximately 34.5% for the fiscal year ended December 31, 2011 and had assets under management of $6.5 billion as of December 31, 2011, $3.1 billion of which represented Icahn Enterprises' investment. In addition to its interest in the Funds, Icahn Enterprises currently has cash and cash equivalents of approximately $1.8 billion at the holding company level.
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