10-K annual report · filed Mar 16, 2005

Icahn Enterprises L.p (IEP) FY2004 10-K Annual Report

Short answer

Icahn Enterprises L.p (IEP) filed its fiscal 2004 10-K annual report with the SEC on Mar 16, 2005.

  • Top risk flagged: Section 'risk_factors' was empty or not found.

Icahn Enterprises L.p FY2004 10-K analysis

AI summary of each section, grounded in the filing text

Business Overview

  • Diversified holding company focused on real estate, gaming and entertainment, oil and gas, plus undervalued investments
  • Major 2004 expansion: Arizona Charlie’s casinos acquired for $125.9 million and Grand Harbor and Oak Harbor for approximately $75.0 million
  • Strategic shift toward energy and gaming consolidation, with pending acquisitions of TransTexas, NEG Holding, Panaco and Sands interests
  • Rental real estate portfolio rationalization: 57 properties sold for approximately $245.4 million during 2004
  • Workforce approximately 6,000, including 1,300 Stratosphere employees covered by collective bargaining agreements

Management Discussion & Analysis

  • Gross revenue $453.8M, up $83.1M or 22.4% YoY; operating income $87.8M, up 28.7% from $68.2M
  • Net earnings $161.0M, up $90.9M or 129.9%; income from continuing operations $77.3M, up 32.6%
  • Best segment, hotel and casino operations: earnings $72.4M, up $26.4M or 57.5%; worst, property transactions: gain $5.3M, down 26.1%
  • Operating cash flow $51.4M; capex $16.2M; no cash distributions expected in 2005
  • Outlook: 2005 capex approximately $28.1M; risks include gaming competition, oil and gas volatility, environmental liabilities and acquisition execution

Risk Factors

  • Section 'risk_factors' was empty or not found.

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