More on Leucadia National results

|About: Leucadia National Corpor... (LUK)|By:, SA News Editor

Q2 net income of $65.07M or $0.17 per share vs. $52.61M and $0.14 a year ago.

H1 investments: Completed initial funding of two seasoned oil and gas management teams, Juneau Energy and Vitesse Energy (total of $90M); invested another $332.5M in Leucadia Asset Management platform; increased stake in Harbinger Group to 20% and now has two representatives on the board.

The sale of Premier Entertainment (Hard Rock Hotel & Casino in Biloxi) closed on July 10 with proceeds of $250M in cash.

Among LUK units: National Beef posted a H1 pre-tax loss of $21.5M amid challenged margins with the U.S. cattle herd at 50-year lows. The closing of the Brawley, CA plant also stung, but should help with improved results going forward.

Garcadias same store new car sales growth of 13.4% beat the industry average of 4.3%. Acquisition activity has slowed as dealership prices have gone up. Total number of dealerships now stands at 22. Cash distribution to LUK totaled $23.6M in H1.

Previously: Leucadia National EPS of $0.16