IAA, Inc. (IAA) CEO John Kett on Q2 2020 Results - Earnings Call Transcript

IAA, Inc. (IAA) Q2 2020 Earnings Conference Call August 4, 2020 9:00 AM ET

Company Participants

Arif Ahmed - VP, Treasury
John Kett - President & CEO
Vance Johnston - EVP & CFO

Conference Call Participants

Stephanie Benjamin - SunTrust Robinson Humphrey
Daniel Imbro - Stephens Inc.
Bob Labick - CJS Securities, Inc.
Gary Prestopino - Barrington Research
Bret Jordan - Jefferies

Operator

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

I'd now like to turn the conference over to Arif Ahmed. Vice President, Treasury. Please go ahead.

Arif Ahmed

Thanks, Keith. Good morning, everyone and thanks for joining us today for IAA’s second quarter fiscal 2020 earnings conference call. Speaking today are John Kett, Chief Executive Officer and President; 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 10-K for the year ended December 29, 2019 filed with the SEC on March 18, 2020 and in Form