CDW Q3 EPS $2.32 (+6.9% YoY) on revenue $5.6B (-9.4%); dividend raised 5% to $0.62

CDW Corp

2023-Q3 EPS reported $5.92 revenue$16,357,500,000

Net sales $5,628M, down 9.4% YoY; average daily sales down 8.0% amid economic uncertainty.
Diluted EPS $2.32 (GAAP) and $2.72 (non-GAAP), up 6.9% and 4.4% respectively.
Gross margin expanded to 21.8% from 19.8%; operating income margin 8.5% vs 7.5%.
Segment: Corporate -12.3%, Small Business -21.7%, Public +1.5%, UK/Canada -15.4%.
Quarterly dividend raised 5% to $0.62 per share, payable Dec 12, 2023; 10th consecutive annual increase.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CDW Corp reported third quarter 2023 results: revenue $5,628.3 million, net income $315.5 million, EPS $2.32.

Period: third quarter 2023
Revenue: $5,628.3 million
Net income: $315.5 million
EPS: $2.32
Result: reported results

Exact text from the filing

leading and emerging technology brands as the IT market continues to evolve," concluded Leahy. 1 Third Quarter of 2023 Highlights: Net sales in the third quarter of 2023 were $5,628 million, compared to $6,216 million in the third quarter of 2022, a decrease of 9.4 percent. There were 63 and 64 selling days for the three months ended September 30, 2023 and 2022,

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Source: SEC EDGAR

accession 0001402057-23-000168

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