Icahn Enterprises L.P. (NASDAQ:IEP) Q1 2024 Earnings Call Transcript

Andrew Teno: Yes. So I don’t think we really want to bet on where the market is going. I think we’ve been pretty clear. We want to stay away from that. There probably not any large-scale changes as to what we’re going to do in terms of taking down our short exposure. I think call we’d always like to be appropriately hedged. And I think based on how we feel and how we feel that our investments that appropriate hedge could go down a little bit. But it’s hard to take it off at these levels. So it’s something we evaluate all the time, but I don’t really foresee any material changes.

Dan Fannon: Understood. Thanks for taking my question.

Operator: Thank you. I’m currently showing no further questions at this time. I’d like to hand the conference back over to Andrew Teno for closing remarks.

Andrew Teno: Thank you. So, I’d like to leave today with a reminder that here at Icahn Enterprises, we are intensely focused on our activism strategy. We have unique advantages including the Icahn brand name in a long history and willingness to wage proxy contests. It is this track record which frequently allows us to be invited to join Boards and work cooperatively with our fellow directors to make the key changes that will drive shareholder value. Furthermore, given our balance sheet, liquidity and permanent capital structure, we have the ability to tender for entire businesses, the two most simply do not possess. No returns can be lumpy and satisfying at times as we continue to focus on our activity efforts at both our investment segment and controlled businesses we believe they will bear fruit for all of our unit holders. We’ll speak to everyone soon. Bye.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect. Everyone have a wonderful day.