AutoNation Currently Estimates EPS For Quarter Ended June 30, 2024, Will Be Negatively Impacted By ~$1.50 Per Share Due To Cyber Incident - Filing

As previously disclosed, on June 19, 2024, AutoNation was notified by CDK Global, a third-party provider of information systems, that CDK was experiencing a cyber incident impacting its systems.

The estimated impact of the incident is split approximately evenly between internal estimates for lost income during the period beginning on June 19, 2024 and ending June 30, 2024, and certain one-time costs relating to the incident, principally consisting of guaranteed compensation paid to retain commission-based associates in order to protect the Company’s business, which one-time costs we expect to adjust for in calculating non-GAAP earnings per share for the second quarter.

After taking into account such negative impact, it currently estimate GAAP earnings per share for the quarter ended June 30, 2024, will range between $3.15 and $3.30.