AutoNation Warns CDK Hack Put a Big Dent in Quarterly Profit
- Cyberattack likely lowered earnings by about $1.50 a share
- Retailer doesn’t expect incident to affect ongoing results
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AutoNation Inc., one of the biggest chains of US car dealerships, warned the cyberattack that crippled retailers across the country until early this month cost the company a significant chunk of second-quarter earnings.
The hack of CDK Global likely lowered AutoNation’s profit for the period by about $1.50 a share, the Fort Lauderdale, Florida-based company said in a regulatory filing Monday. The dealer group estimates it will earn in the range of $3.15 to $3.30 a share in the quarter on a generally accepted accounting principles basis.