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CDW 8-K Report, Financial Results (Aug 6, 2025)

Reports
Earnings & Results·Other Events·Exhibits & Filings
Filing Date
Filed August 6, 2025
Period End
August 6, 2025
Security
CDW
In the record · 2016–202610-K1110-Q328-K113

CDW filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 113 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Material agreement8-K · Aug ’20Aug ’20
  3. Leadership change8-K · Feb ’23Feb ’23
  4. Leadership change8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed August 6, 2025. Cited figures are marked; the original filing is the authoritative source.

CDW Corporation reported second quarter 2025 results on August 6, 2025, with net sales of $5.98 billiona, up 10.2 percent from $5.42 billion in the second quarter of 2024 (9.8 percent on a constant currency basis).

Growth was driven by higher customer demand for notebooks/mobile devices, software, netcomm products and data storage and servers. Corporate segment net sales rose 17.6 percent and Healthcare customer sales rose 24.1 percent, while Education sales declined 10.9 percent. Gross profit grew 4.9 percent to $1.24 billionb, but gross profit margin fell to 20.8 percent from 21.8 percent, which the company attributed to lower rates in certain hardware categories and lower contribution from netted-down revenue.

Profitability was mixed on a GAAP basis. Operating income declined 3.0 percent to $420.2 millionc and net income fell 3.5 percent to $271.2 million, with diluted EPS of $2.05 versus $2.07. Non-GAAP operating income rose 1.8 percent to $519.7 million and non-GAAP net income per diluted share increased 3.9 percent to $2.60.

Selling and administrative expenses rose 9.5 percent, mainly due to higher performance-based compensation, transformation costs, workplace optimization costs and acquisition-related intangible amortization. Net cash provided by operating activities for the six months ended June 30, 2025 was $443.1 milliond, compared with $589.9 million a year earlier.

The Board also declared a quarterly cash dividend of $0.625 per common share, payable September 10, 2025 to stockholders of record as of August 25, 2025. The company stated that dividends, share repurchases, strategic M&A and management of its capital structure are its capital allocation priorities, and that it has returned approximately $7.7 billion to stockholders through share repurchases and dividends since its June 2013 IPO.

02—Key points

Key Highlights

  1. Net sales of $5,976.6 million in Q2 2025, up 10.2 percent year over year (9.8 percent constant currency).
  2. Corporate segment net sales rose 17.6 percent to $2,581.5 million; Healthcare sales rose 24.1 percent, while Education sales fell 10.9 percent.
  3. Gross profit margin declined to 20.8 percent from 21.8 percent, reflecting lower hardware category rates and lower netted-down revenue contribution.
  4. GAAP operating income fell 3.0 percent to $420.2 million; non-GAAP operating income rose 1.8 percent to $519.7 million.
  5. GAAP net income fell 3.5 percent to $271.2 million and diluted EPS was $2.05; non-GAAP diluted EPS rose 3.9 percent to $2.60.
  6. Quarterly dividend of $0.625 per share declared, payable September 10, 2025 to holders of record on August 25, 2025.
  7. Cash flow from operations for the first six months of 2025 was $443.1 million, down from $589.9 million in the prior-year period.

03—Questions

Frequently Asked Questions

  1. How did CDW's revenue perform in the second quarter of 2025?

    Net sales were $5,976.6 million, up 10.2 percent from $5,423.4 million in Q2 2024, or 9.8 percent on a constant currency basis. Growth was led by notebooks/mobile devices, software, netcomm products and data storage and servers, with the Corporate and Healthcare segments showing the strongest increases.

  2. Why did gross margin decline?

    Gross profit margin was 20.8 percent versus 21.8 percent a year earlier. The company attributed the decline to lower rates in certain hardware categories, primarily data storage and servers and netcomm products, and to lower contribution from netted-down revenue.

  3. Did CDW's profitability improve?

    On a GAAP basis, operating income fell 3.0 percent to $420.2 million and net income fell 3.5 percent to $271.2 million. On a non-GAAP basis, operating income rose 1.8 percent to $519.7 million and non-GAAP net income per diluted share rose 3.9 percent to $2.60.

  4. What is the dividend announcement?

    The Board declared a quarterly cash dividend of $0.625 per common share, payable September 10, 2025 to stockholders of record as of the close of business on August 25, 2025. The company noted that future dividends remain subject to Board approval.

  5. How is CDW returning capital to shareholders?

    The company cited dividends, share repurchases, strategic M&A and management of its capital structure as its capital allocation priorities. It stated that it has returned approximately $7.7 billion to stockholders through share repurchases and dividends since its June 2013 IPO, and that the dividend has increased for eleven consecutive years.

04—Continue

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