IAA, Inc (IAA) Tops Q1 EPS by 8c, Offers Guidance

IAA, Inc (NYSE: IAA) reported Q1 EPS of $0.66, $0.08 better than the analyst estimate of $0.58. Revenue for the quarter came in at $557.6 million versus the consensus estimate of $534.67 million.

GUIDANCE:

IAA, Inc sees FY2022 revenue of $2-2.1 billion, versus the consensus of $2.1 billion.

• Total revenue within a range of $2.0 billion - $2.1 billion, including a negative impact from currency of approximately $13.0 - $15.0 million. The currency impact has increased from the prior quarter guidance due to the strengthening of the U.S. dollar versus the British Pound. In addition, SYNETIQ revenue is now expected to be $165 million - $175 million, which is lower than in the previous outlook due to both currency as well as a shift in the accounting for certain revenue contracts from a purchased vehicle model to a consignment model, but does not have an impact on Adjusted EBITDA.
• Organic revenue growth* is expected to be 2.5% - 7.0% from fiscal 2021 revenues of $1,837.4 million.
• Total Adjusted EBITDA within a range of $535 million to $575 million, including a negative impact from currency of approximately $1.5 - $2.5 million.
• Organic Adjusted EBITDA growth* is expected to be within a range of (7.0%) - 1.5% from fiscal 2021 Adjusted EBITDA of $547.3 million.
• Interest expense, net, is expected to be in the range of $51.0 million - $53.0 million.
• Effective tax rate is expected to be in the range of 24.0% -25.0%.
• Depreciation and amortization is expected to be in the range of $105.0 million - $110.0 million.

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

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