AutoNation Files 8-K on Operations and Events

TL;DR

AutoNation dropped an 8-K on July 15th detailing operational results and other key events.

AI Summary

AutoNation, Inc. filed an 8-K on July 15, 2024, reporting on results of operations and other events. The filing details the company's financial condition and significant occurrences during the reporting period.

Why It Matters

This filing provides investors with crucial updates on AutoNation's financial performance and any material events that could impact the company's stock.

Risk Assessment

Risk Level: low — This is a routine 8-K filing providing standard operational and event updates, not indicating immediate or significant new risks.

Key Players & Entities

• AUTONATION, INC. (company) — Registrant
• July 15, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• 200 SW 1st Ave Fort Lauderdale, Florida 33301 (address) — Principal executive offices

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share AN New York Stock Exchange
• $1.50 — be negatively impacted by approximately $1.50 per share, without taking into account
• $3.15 — ended June 30, 2024, will range between $3.15 and $3.30. These preliminary earnings p
• $3.30 — 30, 2024, will range between $3.15 and $3.30. These preliminary earnings per share e

Filing Documents

• an-20240715.htm (8-K) — 34KB
• 0000350698-24-000085.txt ( ) — 160KB
• an-20240715.xsd (EX-101.SCH) — 2KB
• an-20240715_lab.xml (EX-101.LAB) — 22KB
• an-20240715_pre.xml (EX-101.PRE) — 13KB
• an-20240715_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. The information set forth in Item 8.01 with respect to preliminary financial results for the quarter ended June 30, 2024, including estimates of earnings per share, estimates of certain one-time costs, and expected adjustments to calculate non-GAAP earnings per share, is incorporated into this Item 2.02 by reference.

01 Other Events

Item 8.01 Other Events. As previously disclosed, on June 19, 2024, AutoNation, Inc. ("AutoNation" or the "Company") was notified by CDK Global ("CDK"), a third-party provider of information systems, that CDK was experiencing a cyber incident impacting its systems, including the systems necessary to support our dealer management system ("DMS"), which supports our dealership operations, including our sales, service, inventory, customer relationship management, and accounting functions ("Core Functions"). We immediately took precautionary containment steps to help protect our systems and data, implemented business continuity plans, and commenced a review of the potential impact of the incident. The incident resulted in outages of our DMS and Core Functions, causing disruption and adverse impacts to our business, including our productivity. As of the date of this filing, access to our DMS and Core Functions has been restored. Certain ancillary systems and integrations, such as those that help automate ordering, scheduling, payment, and reporting processes, remain unavailable or limited, and efforts remain ongoing to restore these. We expect to complete the restoration of all such systems and integrations prior to the end of July 2024. The unavailability or limited availability of these ancillary systems and integrations has not had, and is not expected to have, a material impact on our business. As a result of the incident's impacts, we currently estimate earnings per share for the quarter ended June 30, 2024, will be negatively impacted by approximately $1.50 per share, without taking into account any potential recoveries related to the incident. The estimated impact of the incident is split approximately evenly between internal estimates for lost income during the period beginning on June 19, 2024 and ending June 30, 2024, and certain one-time costs relating to the incident, principally consisting of guaranteed compensation paid to retain commission-based associate

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "anticipates," "expects," "estimate," "intends," "goals," "targets," "projects," "plans," "believes," "continues," "may," "will," "could," and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements regarding the scope, nature and impact of the cyber incident on our business, including the expected and estimated impact to our financial condition and results of operations, the availability and extent of coverage under our insurance policies or other sources of recovery, the expected timing of system and integration restorations, the anticipated results for the quarter ended June 30, 2024, including estimates of earnings per share, estimates of certain one-time costs, and expected adjustments to calculate non-GAAP earnings per share, and other statements that describe our objectives, goals, or plans, are forward-looking statements. Our forward-looking statements reflect our current expectations concerning future results and events, and they involve known and unknown risks, uncertainties, and other factors that are difficult to predict and may cause our actual results, performance, or achievements to be materially different from any future results, performance, and achievements expressed or implied by these statements. These risks, uncertainties, and other factors include, among others: our assessment of the CDK cyber incident is ongoing; our ability to mitigate the impact on our business and operations resulting from such incident and fully restore impacted systems; the timing of the restoration of the impacted systems; the availability of insu

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AUTONATION, INC. Date: July 15, 2024 By: /s/ C. Coleman Edmunds C. Coleman Edmunds Executive Vice President, General Counsel and Corporate Secretary