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Dec 31, 2023
CDW Q4 2023 Earnings Report
CDW reported Q4 2023 earnings, with strong margins reinforcing the power of its business model and strategy.
Key Takeaways
CDW's Q4 2023 net sales were $5,019 million, a decrease of 7.7 percent compared to Q4 2022. Net income increased by 3.1 percent to $296 million, and non-GAAP net income per diluted share increased by 2.8 percent to $2.57.
Net sales decreased by 7.7% compared to the fourth quarter of 2022, totaling $5,019 million.
Gross profit margin increased to 23.0% compared to 21.7% in the fourth quarter of 2022.
Net income increased by 3.1% to $296 million.
Non-GAAP net income per diluted share increased by 2.8% to $2.57.
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
Looking ahead to 2024, CDW remains well-positioned to continue its track record of outpacing the US IT market growth by 200 to 300 basis points on a constant currency basis.
Positive Outlook
- Well-positioned to continue outpacing the US IT market growth.
- Laser focus on meeting customer needs.
- Remaining the partner of choice for leading and emerging technology brands.
- Continued execution excellence.
- Disciplined approach to capital allocation.
Challenges Ahead
- Ongoing economic uncertainty.
- Reduction or delays in customer hardware spend.
- Decline in Net sales was driven by all operating segments.
- Potential impacts of adverse change in government spending policies.
- Fluctuations in CDW's operating results
Revenue & Expenses
Visualization of income flow from segment revenue to net income