Icahn Enterprises LP Q4 Profits Rise; Lifts Dividend (IEP)

Icahn Enterprises LP (IEP) reported an increased in fourth quarter earnings on Monday. The company also announced that it has raised its dividend. 

IEP’s Earnings in Brief

IEP reported earnings of $222 million, or $1.90 per LP unit, up from $6 million, or 5 cent per LP unit, a year ago. Revenue for the quarter was $4.9 billion, up from $4.3 billion last year. For FY2013, earnings were $9.07 per unit and revenue was $20.7 billion.

CEO Commentary

Carl Icahn noted: “I am pleased to report record earnings in 2013. The financial performance of Icahn Enterprises demonstrates the power of our activist strategy both in our investment funds and our operating companies. We are off to a strong start in 2014. As a result of our strong performance and positive outlook, we are happy to increase the distribution by 20%. I encourage you to read my letter to IEP shareholders for a more in-depth discussion regarding the advantages of shareholder activism at www.shareholderssquaretable.com or www.ielp.com.”

IEP Raises Dividend

IEP announced that it has raised its dividend from $1.25 to $1.50 per unit, or $6.00 annually.

Stock Performance

Icahn Enterprises shares were mostly flat during pre-market trading Monday. The stock is up 1.65% YTD.