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A window into the effect of the CDK systems outage, that affected the U.S auto industry in Q2. As Sonic Automotive reports the attack has material effect on Q2 earnings.
Sonic reported the outage cost it around $30 million or $0.64 per share, compared to $1.18 per share if the incident did not occur (excluding recoveries). The effect on Q3 earnings is as yet unknown.
Several auto distributors reported reduced Q2 EPS falls attributed to the CDK incident.
Like Crowdstrike, the CDK incident raises significant concerns over ICT risk and the material effect of third party supplier incidents on profitability and liabilities.
Who’s going to cover the risk?
@Thaddeus Dziekanowski Brian D. McCarthy Rachel V. Rose, JD, MBA
Veritas GRC CDK Global Sonic Automotive
#cybersecurity #cyberriskmanagement #ictrisk
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