Cybersecurity incident causes disruptions to financial reporting

  • Johnson Controls delays earnings due to cyberattack
  • Cybersecurity incident disrupts financial reporting systems
  • Fourth-quarter and year-end results expected by Dec. 14

Johnson Controls International Plc. has announced a delay in reporting its fourth-quarter earnings due to a cyberattack. The company’s financial reporting systems were disrupted by the cybersecurity incident, leading to the postponement. Johnson Controls expects to release its fiscal fourth-quarter and year-end results by December 14, with more information on the specific timing to be provided closer to the date. The company’s shares slipped 1% in after-hours trading following the announcement.

Public Companies: Johnson Controls International Plc (JCI)
Private Companies:
Key People:

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Factuality Level: 8
Justification: The article provides factual information about Johnson Controls International Plc’s delay in reporting its fourth-quarter earnings due to a cyberattack. It includes a direct quote from the company and mentions the impact on the company’s systems. The article also mentions the expected date for reporting the results and the stock performance. There are no digressions, misleading information, sensationalism, redundancy, or opinion masquerading as fact. The article is concise and sticks to the main topic.

Noise Level: 7
Justification: The article provides relevant information about Johnson Controls International Plc’s delayed earnings due to a cyberattack. It mentions the impact on the company’s systems and the expected timeline for reporting the results. However, it lacks in-depth analysis, scientific rigor, and actionable insights. It also does not hold powerful people accountable or explore the consequences of the cyberattack on those who bear the risks.

Financial Relevance: Yes
Financial Markets Impacted: Johnson Controls International Plc.

Presence of Extreme Event: Yes
Nature of Extreme Event: Technological Disruption
Impact Rating of the Extreme Event: Moderate
Justification: The article reports a cyberattack on Johnson Controls International Plc., which has caused disruptions to its systems used in financial reporting. This event is a technological disruption and has a moderate impact based on the information provided.

Reported publicly: www.marketwatch.com