CDW (CDW) came out with quarterly earnings of $2.57 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $2.50 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this information technology company would post earnings of $2.59 per share when it actually produced earnings of $2.72, delivering a surprise of 5.02%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.CDW, which belongs t ...

VERNON HILLS, Ill.--(BUSINESS WIRE)--CDW Corporation (Nasdaq: CDW), a leading multi-brand provider of information technology solutions to business, government, education and healthcare customers in the United States, the United Kingdom and Canada, today announced that its Board of Directors has authorized a $750 million increase to the company’s share repurchase program and declared a quarterly cash dividend. The cash dividend of $0.62 per common share will be paid on March 12, 2024 to all stockholders of r ...

VERNON HILLS, Ill.--(BUSINESS WIRE)--CDW Corporation (Nasdaq:CDW): (Dollars in millions, except per share amounts) Three Months Ended December 31, Year Ended December 31, 2023 2022 % Chg. 2023 2022 % Chg. Net Sales $ 5,018.5 $ 5,438.3 (7.7 )% $ 21,376.0 $ 23,748.7 (10.0 )% Average Daily Sales1   79.7   86.3 (7.7 )   84.2   93.5 (10.0 ) Gross Profit   1,153.8   1,181.1 (2.3 ...

CDW Corporation (CDW) is slated to report fourth-quarter 2023 results on Feb 7.The Zacks Consensus Estimate for revenues is pegged at $5.36 billion, suggesting a decline of 1.5% from the year-ago quarter’s reported figure. The consensus estimate for earnings is pegged at $2.57 per share, indicating an increase of 2.8% from the year-ago quarter’s reported figure.CDW’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 4.4%.Factors to NoteCDW’s fourth- ...

In its upcoming report, CDW (CDW) is predicted by Wall Street analysts to post quarterly earnings of $2.57 per share, reflecting an increase of 2.8% compared to the same period last year. Revenues are forecasted to be $5.36 billion, representing a year-over-year decrease of 1.5%.Over the last 30 days, there has been a downward revision of 0.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecas ...

Webcast Conference Call November 1, 2023 Today's Agenda ▪ Business Strategy ▪ Q&A Forward-Looking Statements Statements in this presentation that are not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding capital priorities and other strategic plans of CDW. These forward-looking statements are subject to risks and uncertainties that may cause ...

Financial Data and Key Metrics - Net sales for the quarter were $5.6 billion, down 8% year-over-year [2] - Non-GAAP operating income reached a record $556 million, up 1% year-over-year [2] - Non-GAAP net income per share was $2.72, up 4% year-over-year [2] - Gross profit was $1.2 billion, with a record gross margin of 21.8%, up 200 basis points year-over-year [93][95] - Non-GAAP operating income margin reached a record 9.9%, up 110 basis points year-over-year [98] - Non-GAAP net income was $369 million, up 3.5% year-over-year [99] - Net debt was $5.3 billion, with a net leverage ratio of 2.4 times [101] Business Line Performance - Corporate net sales decreased 12%, driven by declines in client devices [9] - Small business net sales declined 22%, with a focus on cost management and shorter-term ROI [12][13] - Public sales increased 1% year-over-year, with healthcare and education each posting a 2% increase [14] - Healthcare net sales increased 2%, driven by cloud solutions and security spend [17][18] - Education net sales increased low single-digits, the first positive growth quarter in over eight quarters [20] - UK and Canada operations delivered $2.9 billion in 2022 sales, but declined mid-teens in Q3 2023 [24] Market Performance - Cloud spend increased nearly 20% across all end markets, with half coming from commercial customers and half from public [65] - Security spend increased by double digits, driven by software and cloud solutions [66] - Client device demand remained weak, particularly in the commercial space, with double-digit declines [64] - Network modernization led to double-digit growth in net comp performance [11] Strategy and Industry Competition - The company's strategy focuses on capturing market share, enhancing high-growth solutions, and expanding services capabilities [90] - Investments in cloud, security, and AI are driving customer spend, with cloud and SaaS-based solutions outpacing net sales growth [6][95] - The company is well-positioned to help customers with AI-enabled technology across the full stack, including client devices [52][53] - The company continues to outperform the IT market by 200 to 300 basis points on a customer spend basis [108] Management Commentary on Operating Environment and Future Outlook - The company expects the IT market to contract at the upper end of high single digits in 2023 [108] - Full-year non-GAAP operating income margin is expected to be in the low to mid-9% range, up from prior expectations [110] - Full-year non-GAAP earnings per share are expected to be flat to slightly up year-over-year in constant currency [111] - The company anticipates a mid-single-digit sequential decline in average daily sales from Q3 to Q4 [112] Other Important Information - The company returned $79 million to shareholders through dividends and $54 million in share repurchases in Q3 [104] - The company announced a 5% increase in its dividend, marking the 10th consecutive year of dividend growth [105] - Adjusted free cash flow for the year is expected to be approximately 6% of net sales, above prior expectations [113] Q&A Session Summary Question: Demand signals and backlog normalization [29] - The company noted that backlog is nearing normalization, with no significant impact expected [33] - Demand in international markets is worse than expected, with the UK and Canada a few quarters behind the US [32] Question: Federal spending and potential government shutdown [37] - The company is confident in managing through potential federal government shutdowns, with in-flight projects likely to continue [37] Question: Operating margin durability [38] - The company expects to continue driving efficiency while investing in its strategy, with potential dilution from transactional products and PC refreshes [41] Question: International market weakness [49] - The company saw a steep decline in international markets in Q3, with expectations for continued softness over the next few quarters [50] Question: AI-enabled PCs and upgrade cycles [51] - The company expects customers to get excited about AI-enabled client devices, but commercialization is still in early stages [51][54] Question: Share gains and M&A [56] - The company continues to take market share, with a delta of more than 5% in customer spend [57] - M&A remains a priority, with a focus on capabilities in cloud, security, and digital solutions [58][59] Question: Impact of netted down items on sales growth [74] - Netted down revenues are expected to outpace net sales growth, with a significant impact on gross profit margins [74][61] Question: Gross margin trends and cyclical vs structural factors [83] - The company expects a balance between transactional products and netted down revenues over time, with potential dilution in gross margins [84][86] Question: Protecting earnings in a muted environment [79] - The company will continue to drive efficiency while investing strategically, with operating leverage expected to vary by quarter [81][82]

Table of Contents Title of each class Trading symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per share CDW Nasdaq Global Select Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transit ...

Amit Daryanani Yes, sure, Amit. So you're right. Look, 2022, we ended 2022 with gross margins of just shy of 20%, which were new record levels, and we're up from there. if I had to parse it kind of year-over-year Amit, I think it's both a combination of, I'll call it, kind of thematic components of netted down revenue and that continued growth there, right? Erik Woodring But I will acknowledge that we're in a very intensely competitive environment. And when you think about the levels of scrutiny and all the ...

TRACK RECORD OF PROFITABLE GROWTH • Offers 100,000+ products and services from 1,000+ brands to more than 250,000 customers in the US, UK and Canada $10.8 $12.1 $13.0 $13.7 $14.8 $16.2 $18.0$18.5 $20.8 $23.7 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 NET SALES ($B) (2) | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------ ...