Johnson Controls to delay Q4 earnings report due to cyberattack

Johnson Controls International previously announced that it had experienced disruptions in portions of its internal information technology infrastructure and applications resulting from a cybersecurity incident. The incident was initially detected by the Company during the weekend of September 23, following outages to certain of the Company’s systems. Promptly after detecting the issue, the Company implemented its incident management and response plan and business continuity plans, including implementing remediation measures to mitigate the impact of the incident and restore affected systems and functions. …To date, the Company has largely restored the impacted applications and systems, and continues to execute business continuity and restoration plans for the remaining impacted applications and systems. Based on the information reviewed to date, the Company believes the unauthorized activity has been contained. The Company’s investigation and remediation efforts remain ongoing, including the analysis of data accessed, exfiltrated or otherwise impacted during the cybersecurity incident. Based on the information reviewed to date, the Company has not observed evidence of any impact to its digital products, services and solutions, including OpenBlue and Metasys. The cybersecurity incident caused disruptions to portions of the Company’s systems that support or provide data used in financial reporting. Even though the functionality of these systems has largely been restored and the associated data has been reconciled and verified, the Company expects that, due to the timing and impact of the incident relative to the Company’s September 30, fiscal year-end, the Company will be delayed in reporting its fiscal 2023 fourth quarter and year-end results. The Company currently expects that it will report fiscal fourth quarter and year-end results by December 14 and within the Rule 12b-25 period available to the Company for its Annual Report on Form 10-K for fiscal year 2023. The Company will provide an update via press release on the specific timing of its fiscal fourth quarter and year-end results when it has greater certainty on the timing of the completion of its financial close and reporting process. The Company continues to evaluate the business, financial and related impacts of the cybersecurity incident on its fiscal 2023 fourth quarter and year end results.