Sonic Automotive reports $0.64 EPS hit from CDK cyber incident; systems restored

SONIC AUTOMOTIVE INC

CDK cyber incident on June 19 disrupted DMS and CRM systems; access now restored as of this filing.
Estimated adverse impact on Q2 GAAP diluted EPS of approximately $0.64 per share.
Q2 GAAP diluted EPS was $1.18; incident materially impacted Q2 business and results of operations.
Company believes incident not reasonably likely to materially affect future financial condition or results.
Operational disruptions continued into July from CDK lead and inventory app issues and third-party integrations.

Key facts

Extracted from this filing and checked against the source text.

Cybersecurity Incidents SEC 8-K Item 1.05 confidence 0.9

SONIC AUTOMOTIVE INC disclosed a cybersecurity incident: disruptions in access to certain information systems provided by CDK Global due to a cybersecurity incident experienced by CDK. Impact: The Incident had a material impact on the Company’s business and results of operations for the second fiscal quarter ended June 30, 2024, adversely affecting GAAP earnings per diluted share by approximately $0.64. Company determined it material. Discovered 2024-06-19.

Nature: disruptions in access to certain information systems provided by CDK Global due to a cybersecurity incident experienced by CDK
Impact: The Incident had a material impact on the Company’s business and results of operations for the second fiscal quarter ended June 30, 2024, adversely affecting GAAP earnings per diluted share by approximately $0.64
Materiality: determined material
Discovery: 2024-06-19

Exact text from the filing

The Company has concluded that the Incident had a material impact on the Company’s business during and results of operations for the second fiscal quarter ended June 30, 2024 ("Q2").

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SONIC AUTOMOTIVE INC filing history →

Source: SEC EDGAR

accession 0001043509-24-000063

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