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Johnson Controls Investigating Cybersecurity Incident Impact on Earnings

1 Mins read

Johnson Controls International PLC (JCI) has announced that it is investigating a recent cybersecurity incident, which has disrupted operations and could potentially interfere with earnings. The building infrastructure supplier disclosed the incident in a filing with the Securities and Exchange Commission.

Investigation Underway

Johnson Controls revealed that it is working with outside experts to investigate the undated cybersecurity incident. While the incident has caused disruptions in certain parts of the company’s internal IT infrastructure and applications, many of its applications remain operational.

Potential Business Impact

However, Johnson Controls acknowledged that the incident has already caused disruptions to certain areas of its business operations. The company is currently assessing whether this cybersecurity incident will affect its ability to release its September-ending quarter results on time in November, as well as potentially have a material impact on its financial results.

Stock Market Response

Following the news, Johnson Controls’ shares declined by 1.4% in after-hours trading. This comes after a 0.7% rise during the regular session, closing at $54.54.

As Johnson Controls continues to investigate the incident, stakeholders are eagerly awaiting further updates regarding the potential impacts on the company’s operations and earnings.

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