IAA: Q1 Earnings Snapshot
WESTCHESTER, Ill. (AP) _ IAA, Inc. (IAA) on Tuesday reported first-quarter earnings of $72.5 million.
The Westchester, Illinois-based company said it had net income of 54 cents per share. Earnings, adjusted for one-time gains and costs, came to 58 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The company posted revenue of $423.5 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $402.9 million.
IAA shares have declined 2.5% since the beginning of the year. The stock has increased 71% in the last 12 months.