AutoNation estimates Q2 EPS of $3.15-$3.30 after $1.50 hit from CDK cyber incident
AutoNation said a cyber incident at third-party provider CDK Global disrupted its dealer management system and core functions, and it estimates the incident will reduce second-quarter 2024 earnings per share by about $1.50 before any insurance or other recoveries. After that impact, the company estimates GAAP earnings per share for the quarter ended June 30, 2024, will be between $3.15 and $3.30, and these estimates are subject to change. Shareholders face lower reported profit for the quarter, though the company says it does not expect a material effect on its overall financial condition or ongoing operations.
Key points
- Estimated negative impact of about $1.50 per share on Q2 2024 EPS, before potential recoveries
- Impact split roughly evenly between lost income from June 19 to June 30, 2024 and one-time costs, mainly guaranteed compensation to retain commission-based associates
- Estimated GAAP EPS for the quarter ended June 30, 2024: $3.15 to $3.30
- Dealer management system and core functions restored; ancillary systems expected fully restored before the end of July 2024; second-quarter results due July 31, 2024
The filing
Written by AI on Nov 8, 2026, 12:58 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 15, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.