earnings
confidence high
sentiment positive
materiality 0.75
CDW Q2 net sales up 10% to $6.57B; non-GAAP EPS $2.91, up 11.9%
CDW Corp
- Net sales $6,572M (+10.0% YoY); GAAP EPS $2.15 (+5.1%); non-GAAP EPS $2.91 (+11.9%).
- Commercial segment sales $3,965M (+9.2%); Government $848M (+13.6%); Education $933M (+0.7%); Other $826M (+22.9%).
- Gross margin 20.1% vs 20.8% YoY; operating margin 6.5% vs 7.0%.
- Quarterly dividend declared $0.630/share, payable Sept 10, record Aug 25.
- Management reaffirms goal to exceed US IT addressable market growth by 200-300 bps.