IAA, Inc. (IAA) CEO John Kett on Q1 2020 Results - Earnings Call Transcript

IAA, Inc. (IAA) Q1 2020 Earnings Conference Call May 6, 2020 9:00 AM ET

Company Participants

Arif Ahmed - Vice President, Treasury
John Kett - President and Chief Executive Officer
Vance Johnston - Executive Vice President and Chief Financial Officer

Conference Call Participants

Daniel Imbro - Stephens Inc.
Craig Kennison - Robert W. Baird & Co.
Stephanie Benjamin - SunTrust Robinson Humphrey Inc
Bret Jordan - Jefferies LLC
Bob Labick - CJS Securities, Inc.
Gary Prestopino - Barrington Research

Operator

Good morning, and welcome to the Insurance Auto Auctions Q1 2020 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note today’s event is being recorded.

I would now like to turn the conference over to Arif Ahmed. Please go ahead, sir.

Arif Ahmed

Thanks, Keith, and good morning, everyone. Thanks for joining us today for IAA’s first quarter fiscal 2020 earnings conference call. Speaking today are John Kett, Chief Executive Officer and President; and Vance Johnston, our Chief Financial Officer. After John and Vance 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