IAA, Inc. (IAA) Q1 2022 Earnings Conference Call May 10, 2022 9:00 AM ET

Company Participants

John Kett - CEO, President & Director

Susan Healy - EVP & CFO

Arif Ahmed - VP, Treasury

Conference Call Participants

Daniel Imbro - Stephens Inc.

Robert Labick - CJS Securities

Ali Faghri - Guggenheim Securities

Christopher Bottiglieri - BNP Paribas Exane

Bret Jordan - Jefferies

Gary Prestopino - Barrington Research Associates

Operator

Good morning, and thank you all for attending the IAA, Inc. Q1 2022 Earnings Call. My name is Sam, and I will be your moderator for today's call. [Operator Instructions]. This time, I'd like to turn the call over to our host, Arif Ahmed, Vice President of Treasury. Arif?

Arif Ahmed

Thanks, Sam. Good morning, everyone, and thanks for joining us today for IAA's First Quarter Fiscal '22 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 for the year ended January 2, 2022, filed with the SEC on February 28, 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

Thank you, Arif. Good morning. Thank you all for joining us for our first quarter earnings call. Today, I'm going to both provide some highlights from our first quarter performance and review our continued progress against our strategic initiatives and then turn the call over to Susan to discuss our financial performance and outlook in more detail.