Johnson Controls warns delay in earnings report due to cyberattack

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Johnson Controls warns delay in earnings report due to cyberattack
Johnson Controls warns delay in earnings report due to cyberattack

Johnson Controls had largely restored the impacted applications and systems, the company said.

A delay in reporting its fourth-quarter results has been warned by Johnson Controls, a building solutions provider, due to a previously disclosed cybersecurity incident, sending its shares down 1.3% after the bell.

The company’s fourth-quarter and year-end results are now expected to be reported by December 14.

“The cybersecurity incident caused disruptions to portions of the company’s systems that support or provide data used in financial reporting,” Johnson Controls said.

According to the company, the incident, which was first detected on Sept. 23, involved unauthorized access and a ransomware attack by a third party.

Hackers encrypt an organization’s systems in ransomware attacks and in exchange for unlocking them, they demand ransom payments. To extort victims, often they also steal sensitive data, and leak it online if the payments are not made.

Johnson Controls had largely restored the impacted applications and systems, the company said.

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