IAA - IAA gives prelim Q4 and FY numbers

• IAA ( NYSE: IAA ) expects Q4 GTV of ~$2B; consolidated revenue of ~$524M; Net Income of $74M-77M; Adjusted EBITDA of $137M-141M.
• FY GTV of ~$8,3B; consolidated revenue of ~$2.1B; Net Income of $288M-291M; Adjusted EBITDA of $536M-540M, Net Debt of ~$961M.
• CEO and President John Kett commented, ', “I am pleased with our solid finish to the year, which benefitted from our strong execution during Hurricane Ian. Our CAT response team quickly deployed in the affected areas, utilizing IAA’s advanced digital capabilities and industry-leading real estate in the region to deliver best-in-class service for our customers. Within 10 days, we had picked up over 90% of assignments, earning tremendous praise from our customers for our speed and execution. Our preliminary results reflect the significant progress we have made against our strategic initiatives as well as the continued impact from industry trends.”

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