IAA - IAA Non-GAAP EPS of $0.66 beats by $0.08 revenue of $557.6M beats by $23.85M; updates FY 2022 outlook

IAA press release (NYSE:IAA): Q1 Non-GAAP EPS of $0.66 beats by $0.08. Revenue of $557.6M (+31.7% Y/Y) beats by $23.85M. Adjusted EBITDA increased by 12.5% to $149.8 million from $133.2 million in the first quarter of fiscal 2021. Outlook: Total revenue within a range of $2.0 billion - $2.1 billion vs. consensus of $2.08B, including a negative impact from currency of approximately $13.0 - $15.0 million. In addition, SYNETIQ revenue is now expected to be $165 million - $175 million. 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.

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IAA Non-GAAP EPS of $0.66 beats by $0.08, revenue of $557.6M beats by $23.85M; updates FY 2022 outlook