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Dec 31, 2024

CDW Q4 2024 Earnings Report

CDW reported a solid finish to a challenging year with a commitment to customers during uneven market conditions. The company delivered strong gross margin and excellent cash flow, while certain end-markets displayed signs of stability.

Key Takeaways

CDW Corporation reported a 3.3% increase in net sales for the fourth quarter of 2024, reaching $5,186 million. While customers remained cautious, certain end-markets displayed signs of stability, and the company delivered strong gross margin and excellent cash flow.

Net sales increased by 3.3% to $5,186 million compared to Q4 2023.

Corporate segment Net sales increased 4.2% higher than 2023.

Small Business segment Net sales increased 4.4% higher than 2023.

Public segment Net sales increased 6.1% higher than 2023, driven by Healthcare.

Total Revenue
$5.19B
Previous year: $5.02B
+3.3%
EPS
$2.48
Previous year: $2.57
-3.5%
Non-GAAP operating income margin
9.6%
Previous year: 10.3%
-6.8%
Gross Profit
$1.16B
Previous year: $1.15B
+0.1%
Cash and Equivalents
$504M
Previous year: $589M
-14.5%
Free Cash Flow
$317M
Previous year: $503M
-37.0%
Total Assets
$14.7B
Previous year: $13.3B
+10.5%

CDW

CDW

CDW Revenue by Segment

Forward Guidance

For 2025, CDW continues to target exceeding US IT market growth by 200 to 300 basis points. To achieve this, they will maintain focus on meeting the evolving needs of their customers and remaining the partner of choice for technology brands.

Revenue & Expenses

Visualization of income flow from segment revenue to net income