CDW Q1 net sales $5.95B (+23% YoY); non-GAAP EPS $2.20 (+26.6%)

CDW Corp

2022-Q1 EPS reported $1.83 revenue$5,949,100,000

Net sales record $5.95B (+23% YoY); GAAP EPS $1.83 (+12.6%); non-GAAP EPS $2.20 (+26.6%).
Gross margin improved to 18.6% (vs 16.4% in Q1 2021) on favorable mix and higher services.
Corporate segment net sales up 45.5%; Public +5.8%; Small Business +21.1%; Other (UK/Canada) +12.8%.
Quarterly dividend of $0.50/share declared; payable June 10, 2022 to holders of record May 25, 2022.
CFO reiterated target to reduce net leverage to 2.5-3.0x by end of 2022 using cash flow after dividends.

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