IAA, Inc. (NYSE: IAA) announced its financial results for the second quarter of fiscal 2020, which ended June 28.
John Kett, Chief Executive Officer and President, stated, “As expected, our second quarter results were materially impacted by COVID-19 and the sharp drop in miles driven and associated assignments in the quarter. Since late April, we have seen a stronger improvement than originally anticipated with markets reopening and vehicle miles driven continuing to rebound. The lower supply of vehicles and continued strong demand from buyers, combined with benefits from the completion of our buyer digital transformation and enhanced digital auction platform,
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