---
schema_version: "secwatch.filing_event.v1"
accession: "0001402057-23-000130"
form_type: "8-K"
ticker: "CDW"
cik: "0001402057"
company_name: "CDW Corp"
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T12:31:21.677988+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CDW Q2 net sales down 8.5% YoY, non-GAAP EPS up 3.2% to $2.56; declares $0.59 dividend

## Summary
- Net sales $5,626M (-8.5% YoY); GAAP diluted EPS $1.92 (-5.5%); non-GAAP EPS $2.56 (+3.2%).
- Corporate segment sales -15.6%, Small Business -20.8%; Public +2.3% on Government +11.8%.
- Gross margin improved to 21.0% from 19.0% due to higher product margin and mix.
- Operating income $412M (-5.3%); non-GAAP op income $530M (+2.6%); margin 9.4%.
- Board declared $0.59 quarterly cash dividend, payable Sept 12, 2023 to holders of record Aug 25.

## SEC filing metadata
- accession: 0001402057-23-000130
- form_type: 8-K
- ticker: CDW
- cik: 0001402057
- company_name: CDW Corp
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1402057/000140205723000130/0001402057-23-000130-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1402057/000140205723000130/cdw-20230802.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001402057-23-000130
- JSON: https://secwatch.observer/filing/0001402057-23-000130.json
- Plain text: https://secwatch.observer/filing/0001402057-23-000130.txt

## Key facts
- Earnings Releases
  CDW Corp reported Three Months Ended June 30, 2023 results: revenue $ 5,626.1, net income 262.6, EPS $ 1.92.
  - Period: Three Months Ended June 30, 2023
  - Revenue: $ 5,626.1
  - Net income: 262.6
  - EPS: $ 1.92
  - Result: reported results
  source text: (Dollars in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2023 2022 % Chg. 2023 2022 % Chg. Net Sales $ 5,626.1 $ 6,145.8 (8.5) $ 10,729.2 $ 12,094.9 (11.3) Average Daily Sales 1 87.9 96.0 (8.5) 83.8 95.2 (12.0) Gross Profit 1,181.5 1,168.2 1.1 2,270.9 2,272.3 (0.1) Operating Income 412.2 435.3 (5.3) 767.5 822.2 (6.7) Net Income 262.6 279.3 (6.0) 492.7 529.5 (6.9) Non-GAAP Operating Income 2 529.8 516.3 2.6 964.1 978.4 (1.5) Net Income per Diluted Share $ 1.92 $ 2.04 (5.5) $ 3.60 $ 3.87 (6.9)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402057/000140205723000130/0001402057-23-000130-index.htm
- Earnings Releases
  CDW Corp reported Six Months Ended June 30, 2023 results: revenue $ 10,729.2, net income 492.7, EPS $ 3.60.
  - Period: Six Months Ended June 30, 2023
  - Revenue: $ 10,729.2
  - Net income: 492.7
  - EPS: $ 3.60
  - Result: reported results
  source text: (Dollars in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2023 2022 % Chg. 2023 2022 % Chg. Net Sales $ 5,626.1 $ 6,145.8 (8.5) $ 10,729.2 $ 12,094.9 (11.3) Average Daily Sales 1 87.9 96.0 (8.5) 83.8 95.2 (12.0) Gross Profit 1,181.5 1,168.2 1.1 2,270.9 2,272.3 (0.1) Operating Income 412.2 435.3 (5.3) 767.5 822.2 (6.7) Net Income 262.6 279.3 (6.0) 492.7 529.5 (6.9) Non-GAAP Operating Income 2 529.8 516.3 2.6 964.1 978.4 (1.5) Net Income per Diluted Share $ 1.92 $ 2.04 (5.5) $ 3.60 $ 3.87 (6.9)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402057/000140205723000130/0001402057-23-000130-index.htm

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