IAA, Inc (IAA) Misses Q3 EPS by 2c

IAA, Inc (NYSE: IAA) reported Q3 EPS of $0.52, $0.02 worse than the analyst estimate of $0.54. Revenue for the quarter came in at $420.7 million versus the consensus estimate of $411.29 million.

Outlook:

2021 is a 53-week year, with the extra week in the fiscal fourth quarter. The 53rd week is expected to contribute revenue of $20 - $24 million and Adjusted EBITDA of $10 - $12 million. For fiscal 2021, the Company now expects:

Organic revenue growth* within a range of 25.0% - 27.0% from fiscal 2020 revenues of $1,384.9 million. Total revenue is expected to be $1,780 million - $1,810 million.
Organic Adjusted EBITDA growth* within a range of 35.0% - 37.0% from fiscal 2020 Adjusted EBITDA of $398.5 million. Total Adjusted EBITDA is expected to be $545 million to $553 million.
Interest expense, net, is expected to be in the range of $57.5 million - $58.0 million, including the $10.3 million loss on early extinguishment of debt in the second quarter.
Effective tax rate is expected to be in the range of 24.5% - 25.0%.
Depreciation and amortization is expected to be in the range of $83.0 million - $85.0 million

For earnings history and earnings-related data on IAA, Inc (IAA) click here.

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