---
schema_version: "secwatch.filing_event.v1"
accession: "0001402057-23-000006"
form_type: "8-K"
ticker: "CDW"
cik: "0001402057"
company_name: "CDW Corp"
filed_at: "2023-02-08T23:59:59+00:00"
generated_at: "2026-06-19T21:35:57.973277+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# CDW Q4 revenue down 1.8% but EPS up 33%; raises dividend 18%, adds $750M buyback

## Summary
- Net income per diluted share $2.09 (GAAP), $2.50 non-GAAP, up 33% and 21% YoY.
- Total net sales $5.44B, down 1.8% YoY; constant currency down 0.4%.
- Corporate segment up 6.9%; Small Business down 13.1%; Public down 8.7% (Education -30.9%).
- Board approved $750M increase to share repurchase authorization; quarterly dividend raised 18% to $0.59/share.
- Full-year 2022 non-GAAP EPS $9.79, up 22.9% YoY; net leverage reduced to targeted range.

## SEC filing metadata
- accession: 0001402057-23-000006
- form_type: 8-K
- ticker: CDW
- cik: 0001402057
- company_name: CDW Corp
- filed_at: 2023-02-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1402057/000140205723000006/0001402057-23-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1402057/000140205723000006/cdw-20230208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001402057-23-000006
- JSON: https://secwatch.observer/filing/0001402057-23-000006.json
- Plain text: https://secwatch.observer/filing/0001402057-23-000006.txt

## Key facts
- Earnings Releases
  CDW Corp reported the three months ended December 31, 2022 results: revenue $5,438.3, net income 287.2, EPS $2.09.
  - Period: the three months ended December 31, 2022
  - Revenue: $5,438.3
  - Net income: 287.2
  - EPS: $2.09
  - Result: reported results
  source text: Net Sales $ 5,438.3 $ 5,536.9 (1.8) % $ 23,748.7 $ 20,820.8 14.1 % Average Daily Sales 1 86.3 87.9 (1.8) 93.5 82.0 14.1 Gross Profit 1,181.1 975.6 21.1 4,686.6 3,568.5 31.3 Operating Income 446.6 339.3 31.6 1,735.2 1,419.0 22.3 Net Income 287.2 215.3 33.4 1,114.5 988.6 12.7 Non-GAAP Operating Income 2 523.1 424.5 23.2 2,050.5 1,645.4 24.6 Net Income per Diluted Share $ 2.09 $ 1.57 33.1 $ 8.13 $ 7.04 15.6 Non-GAAP Net Income per Diluted Share 2 $ 2.50 $ 2.08 20.6 % $ 9.79 $ 7.97 22.9 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402057/000140205723000006/0001402057-23-000006-index.htm
- Earnings Releases
  CDW Corp reported the year ended December 31, 2022 results: revenue $23,748.7, net income 1,114.5, EPS $8.13.
  - Period: the year ended December 31, 2022
  - Revenue: $23,748.7
  - Net income: 1,114.5
  - EPS: $8.13
  - Result: reported results
  source text: Net Sales $ 5,438.3 $ 5,536.9 (1.8) % $ 23,748.7 $ 20,820.8 14.1 % Average Daily Sales 1 86.3 87.9 (1.8) 93.5 82.0 14.1 Gross Profit 1,181.1 975.6 21.1 4,686.6 3,568.5 31.3 Operating Income 446.6 339.3 31.6 1,735.2 1,419.0 22.3 Net Income 287.2 215.3 33.4 1,114.5 988.6 12.7 Non-GAAP Operating Income 2 523.1 424.5 23.2 2,050.5 1,645.4 24.6 Net Income per Diluted Share $ 2.09 $ 1.57 33.1 $ 8.13 $ 7.04 15.6 Non-GAAP Net Income per Diluted Share 2 $ 2.50 $ 2.08 20.6 % $ 9.79 $ 7.97 22.9 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402057/000140205723000006/0001402057-23-000006-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.