Icahn Enterprises L.P. (IEP) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 24, 2023 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning and welcome to the Icahn Enterprises L.P.'s Q4 2022 Earnings Call with Rob Flint, Director of accounting; David Willetts, President and CEO and Ted Papapostolou, Chief Financial Officer.

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

Rob Flint

Thank you, operator. The Private Securities Litigation Reform Act of 1995 provides a Safe Harbor for forward-looking statement we make in this presentation, including statements regarding our future performance and plans for our businesses and potential acquisitions.

Forward-looking statement 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 L.P. 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 statement, 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 fourth 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 Q4 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 investment. We're 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 otherwise specified.