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AutoNation said Monday that its second-quarter earnings will likely be lower than anticipated thanks to the CDK Global cyberattacks last month.
The company expects profits to be about $1.50 less per share than previous projections, Bloomberg reported.
The car retailer, which is one of the biggest in the country, saw its shares decline during the outage, which left the CDK dealership system down for about two weeks starting on June 19.
AutoNation’s stock has mostly recovered since the outage was largely restored by the July 4th Weekend.
The company said the outage shouldn’t affect its overall financial health. Its share rose 5.40 points Monday morning to 175.88 by 11 a.m.
Still, AutoNation isn’t alone in feeling the effects of the outage.
Sonic Automotive, a car dealership company, said last week the cyberattacks will have a “material impact” on its earnings, according to AutoNews.
The cyberattack forced the roughly 15,000 dealerships working with CDK to all but stop business. CNN reported that CDK seems to have paid a $25 million ransom to free its system from hackers, but the company has not publicly said if it paid the money.