IAA, Inc. (NYSE:IAA) announced consolidated revenues increased 50.0% to $445.1 million in its second quarter that ended June 27 from $296.8 million in the second quarter of fiscal 2020.
Foreign currency movements resulted in a benefit of $5.9 million to revenue for the quarter. Excluding this impact, organic revenue increased 48.0% to $439.2 million, consisting of an increase in volume of 22.9%, primarily due to higher vehicle miles traveled due to the reopening of the US economy, as well as higher revenue per unit of 20.4%.
Service revenues increased 44.4% to $382.5 million from $264.8 million in the second quarter
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