---
schema_version: "secwatch.filing_event.v1"
accession: "0001402057-23-000089"
form_type: "8-K"
ticker: "CDW"
cik: "0001402057"
company_name: "CDW Corp"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:45:15.932752+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CDW Q1 net sales down 14.2% YoY; EPS $1.68, non-GAAP $2.03; declares $0.59 dividend

## Summary
- Net sales $5.1B, down 14.2% YoY; diluted EPS $1.68 vs $1.83; non-GAAP EPS $2.03 vs $2.20.
- Gross profit margin improved to 21.3% from 18.6% on higher product margin and software mix.
- Corporate segment sales down 17.4%; Small Business down 22.7%; Public down 12.2% led by education -27.4%.
- CEO cites deeper-than-expected IT demand contraction but says record first-quarter margins.
- Board declares $0.59 quarterly dividend, payable June 13, 2023, to holders of record May 25.

## SEC filing metadata
- accession: 0001402057-23-000089
- form_type: 8-K
- ticker: CDW
- cik: 0001402057
- company_name: CDW Corp
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1402057/000140205723000089/0001402057-23-000089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1402057/000140205723000089/cdw-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001402057-23-000089
- JSON: https://secwatch.observer/filing/0001402057-23-000089.json
- Plain text: https://secwatch.observer/filing/0001402057-23-000089.txt

## Key facts
- Earnings Releases
  CDW Corp reported first quarter 2023 results: revenue $5,103.1, net income $230.1, EPS $1.68.
  - Period: first quarter 2023
  - Revenue: $5,103.1
  - Net income: $230.1
  - EPS: $1.68
  - Result: reported results
  source text: Record First Quarter Profit Margins Reinforce Durability of Strategy (Dollars in millions, except per share amounts) Three Months Ended March 31, 2023 2022 % Chg. Net Sales $ 5,103.1 $ 5,949.1 (14.2) Average Daily Sales 1 79.7 94.4 (15.6) Gross Profit 1,089.4 1,104.1 (1.3) Operating Income 355.3 386.9 (8.2) Net Income 230.1 250.2 (8.0) Non-GAAP Operating
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402057/000140205723000089/0001402057-23-000089-index.htm

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