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Jun 30, 2021
CDW Q2 2021 Earnings Report
CDW's second quarter 2021 earnings reflected a record performance with outstanding net sales and excellent profitability.
Key Takeaways
CDW Corporation reported a strong second quarter in 2021, with net sales reaching $5,146.4 million, a 17.9% increase compared to the same period in 2020. The company's performance was driven by increased demand from commercial customers and strong execution of its strategy.
Total Net sales increased by 17.9% to $5,146 million compared to Q2 2020.
Net income increased by 44.9% to $274 million compared to Q2 2020.
Non-GAAP net income per diluted share increased by 29% to $2.02 compared to Q2 2020.
The company now expects 2021 constant currency Non-GAAP net income per diluted share growth in the mid-teens.
CDW
CDW
CDW Revenue by Segment
Revenue by Segment
Corporate Revenue
CapyFin.comSmall Business Revenue
CapyFin.comPublic Revenue
CapyFin.comOther (UK & Canada) Revenue
CapyFin.com Forward Guidance
CDW expects to exceed its 2021 outlook to outpace US IT market growth by 200 to 300 basis points on a constant currency basis.
Positive Outlook
- Executing strategy
- Investing in the business
- Meeting the needs of more than 250,000 customers in the United States, the United Kingdom and Canada
- Remaining the partner of choice for more than 1,000 leading and emerging technology brands
- Technology market continues to evolve
Challenges Ahead
- COVID-19 pandemic and actions taken in response thereto and the associated impact on our business, results of operations, cash flows, financial condition and liquidity
- CDW's relationships with vendor partners and terms of their agreements
- Continued innovations in hardware, software and services offerings by CDW's vendor partners
- Substantial competition that could reduce CDW's market share
- The continuing development, maintenance and operation of CDW's information technology systems
Revenue & Expenses
Visualization of income flow from segment revenue to net income