CDW Q2 2024 Earnings Report
Key Takeaways
CDW Corporation reported a decrease in net sales by 3.6% to $5,423.4 million. Despite the revenue decline, the company saw an increase in operating income by 5.1% to $433.1 million and net income by 7.0% to $281.1 million. EPS increased to $2.07 from $1.92 year over year.
Net sales decreased by 3.6% year-over-year, totaling $5,423.4 million.
Gross profit remained relatively consistent at $1,183.1 million, with gross profit margin increasing to 21.8%.
Operating income increased by 5.1% to $433.1 million.
Net income increased by 7.0% to $281.1 million, with net income per diluted share increasing to $2.07.
CDW
CDW
CDW Revenue by Segment
Forward Guidance
CDW remains well-positioned to attain its target of exceeding US IT market growth by 200 to 300 basis points on a constant currency basis.
Positive Outlook
- Customers continue to turn to CDW to address their mission-critical IT and operational needs across the full IT solutions stack and lifecycle.
- CDW is focused on meeting the needs of more than 250,000 customers around the globe.
- CDW aims to remain the partner of choice for more than 1,000 leading and emerging technology brands.
- CDW is focused on remaining the partner of choice as the IT market continues to evolve.
- CDW is laser focused on meeting the needs of customers.
Challenges Ahead
- Economic uncertainty continues to weigh heavily on solutions spend.
- Increased technology complexity continues to weigh heavily on solutions spend.
- Customers are cautious and measured in their approach to technology spending.
- Limited demand in the market.
- Solutions spend is being impacted by economic uncertainty.
Revenue & Expenses
Visualization of income flow from segment revenue to net income