AutoNation Currently Estimates EPS For Quarter Ended June 30, 2024, Will Be Negatively Impacted By ~$1.50 Per Share Due To Cyber Incident - Filing
Portfolio Pulse from Benzinga Newsdesk
AutoNation estimates its EPS for the quarter ended June 30, 2024, will be negatively impacted by approximately $1.50 per share due to a cyber incident involving its third-party provider, CDK Global. The impact is split between lost income and one-time costs. GAAP EPS is expected to range between $3.15 and $3.30.
July 15, 2024 | 10:41 am
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NEGATIVE IMPACT
AutoNation's EPS for Q2 2024 is expected to be negatively impacted by approximately $1.50 per share due to a cyber incident involving its third-party provider, CDK Global. The impact is split between lost income and one-time costs. GAAP EPS is expected to range between $3.15 and $3.30.
The cyber incident has a direct and significant impact on AutoNation's earnings, reducing EPS by approximately $1.50 per share. This is a substantial negative impact, affecting both lost income and one-time costs, which will likely lead to a short-term decline in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100