IAA, Inc. (IAA) Q2 2022 Earnings Conference Call August 9, 2022 9:00 AM ET

Company Participants

Caitlin Churchill - Investor Relations

John Kett - Chief Executive Officer and President

Susan Healy - Chief Financial Officer

Conference Call Participants

Daniel Imbro - Stephens

Bob Labick - CJS Securities

Bret Jordan - Jefferies

Gary Prestopino - Barrington Research

Chris Bottiglieri - BNP Paribas

Operator

Good morning ladies and gentlemen. Thank you for attending today’s IAA Second Quarter Earnings Conference Call. My name is [indiscernible], and I will be your moderator for today's call. [Operator Instructions] I would now like to pass the conference over to our host, Caitlin Churchill with Investor Relations. Caitlin, please go ahead.

Caitlin Churchill

Good morning, everyone, and thanks for joining us today for IAA's second quarter fiscal 2022 earnings conference call. Speaking today are John Kett, Chief Executive Officer and President; and Susan Healy, our Chief Financial Officer. After John and Susan have made their formal remarks, we will open the call to questions.

Before we begin, I would like to remind you that certain comments made during this call regarding our plans, strategies, and goals and our anticipated financial performance constitute forward-looking statements and are made pursuant to and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Such forward-looking statements are based on management's current assumptions and expectations and are subject to risks and uncertainties that could cause actual results to differ materially from such statements.

Those important factors are referred to in IAA's press release issued today and in the Risk Factors section included in our annual report on Form 10-K filed with the SEC on February 28, 2022 and in our quarterly report on Form 10-Q filed with the SEC on May 10, 2022. The forward-looking statements made today are as of the date of this call, and IAA does not undertake any obligation to update these forward-looking statements.

Finally, the speakers will refer to certain adjusted or non-GAAP financial measures on this call. A reconciliation schedule of the non-GAAP financial measures to the most directly comparable GAAP measures is available in IAA's press release issued today. A copy of today's press release may be obtained by visiting the Investor Relations page of the website at www.iaai.com.

I will now turn the call over to John. John?

John Kett

Thanks, Caitlin. Good morning everyone and welcome to IAA’s second quarter earnings call. My plan today is to first provide some highlights from our performance in the quarter and then review our continued progress against our strategic initiatives. I will then turn the call over to Susan to discuss our financial results and outlook in greater detail.