Icahn Enterprises L.P. (IEP) Q3 2022 Earnings Call Transcript

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning and welcome to the Icahn Enterprises L.P. Third Quarter 2022 Earnings Conference Call with Rob Flint, Director of Accounting; David Willetts, President and CEO; and Ted Papapostolou, Chief Financial Officer.

I would now like to hand the conference over to Rob Flint, who will read the opening statement.

Rob Flint

Thank you, operator. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements we make in this presentation, including statements regarding our future performance and plans for our businesses and potential acquisitions. 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 LP 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 that are discussed in our filings with the Securities and Exchange Commission, including economic, competitive, legal and other factors, including the severity, magnitude and duration of the COVID-19 pandemic.

Accordingly, there is no assurance that our expectations will be realized. We assume no obligation to update or revise any forward-looking statements should circumstances change, except as otherwise required by law.

This presentation also includes certain non-GAAP financial measures. A reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the back of this presentation.

I'll now turn it over to David Willetts, our Chief Executive Officer.

David Willetts

Thank you, Rob. Good morning and welcome to the third quarter 2022 Icahn Enterprises earnings conference call. Joining me on today's call is Ted Papapostolou, our Chief Financial Officer. Together, we'll provide an overview of Q3 results and then be available for questions.

Before we get into the results, I'd like to reemphasize that we believe activism is the best paradigm for investing. We are putting our activist principles into effect in both our majority controlled and our minority positions held in our Investment segment. Additionally, we strongly believe in hedging our positions to mitigate risk, especially in the volatile markets that we're living in today.

For the sake of brevity, all net income and EBITDA amounts we'll discuss are attributable to Icahn Enterprises, unless we otherwise specified.