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CDW 8-K Report, Financial Results (May 6, 2026)

Reports
Earnings & Results·Other Events·Exhibits & Filings
Filing Date
Filed May 6, 2026
Period End
May 6, 2026
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 · Nov ’22Nov ’22
  4. Leadership change8-K · Oct ’24Oct ’24

01—Abstract

Summary

Summary of the 8-K filed May 6, 2026. Cited figures are marked; the original filing is the authoritative source.

CDW Corporation reported first quarter 2026 results on May 6, 2026.

Net sales rose 9.2 percent to $5.68 billiona from $5.20 billion, with 8.4 percent growth on a constant currency basis, driven mainly by demand for data storage and servers, netcomm products, software, and notebooks/mobile devices. All segments saw improved customer spending. Gross profit increased 6.0 percent to $1.19 billion, but gross profit margin declined to 21.0 percent from 21.6 percent, primarily due to a lower contribution of netted down revenue.

Selling and administrative expenses rose 7.0 percent to $814 millionb, reflecting higher compensation, coworker-related costs, and AI investments. GAAP operating income grew 4.0 percent to $376 million, while non-GAAP operating income rose 1.8 percent to $452 million, with non-GAAP operating income margin at 8.0 percent versus 8.5 percent a year earlier. GAAP net income increased 4.7 percent to $235.4 million, and GAAP diluted EPS rose 7.9 percent to $1.82.

Non-GAAP diluted EPS was $2.28c, up 6.3 percent, helped by a reduction in diluted shares to 129.5 million from 133.5 million. Operating cash flow was $274.8 million and free cash flow was $248.4 million. The Board declared a quarterly cash dividend of $0.630 per share, payable June 10, 2026 to stockholders of record on May 25, 2026.

As of March 31, 2026, approximately $484 milliond remained under the share repurchase program. Management said it remains confident in its ability to exceed US IT addressable market growth by 200 to 300 basis points on a constant currency basis.

02—Key points

Key Highlights

  1. Net sales increased 9.2 percent to $5.68 billion (8.4 percent on a constant currency basis), led by data storage and servers, netcomm, software, and notebooks/mobile devices.
  2. Commercial segment net sales rose 9.6 percent to $3.57 billion, with Financial Services up 28.2 percent, Corporate up 8.4 percent, and Healthcare up 4.9 percent.
  3. Gross profit margin declined to 21.0 percent from 21.6 percent, primarily due to a lower contribution of netted down revenue.
  4. GAAP diluted EPS rose 7.9 percent to $1.82; non-GAAP diluted EPS rose 6.3 percent to $2.28.
  5. Non-GAAP operating income rose 1.8 percent to $452 million, with margin falling to 8.0 percent from 8.5 percent.
  6. Quarterly cash dividend of $0.630 per share declared, payable June 10, 2026 to holders of record on May 25, 2026.
  7. Approximately $484 million remained under the share repurchase program as of March 31, 2026.

03—Questions

Frequently Asked Questions

  1. How did CDW's revenue perform in the first quarter of 2026?

    Net sales were $5,679.8 million, up 9.2 percent from $5,199.1 million a year earlier, or 8.4 percent on a constant currency basis. Both periods had 63 selling days. Growth was broad across segments, with the Other segment (UK and Canada) up 17.9 percent and Government up 4.6 percent.

  2. Did profitability improve?

    Profit grew in dollar terms but margins compressed. GAAP operating income rose 4.0 percent to $376.0 million, and operating margin fell to 6.6 percent from 7.0 percent. Non-GAAP operating income rose 1.8 percent to $451.9 million, with margin at 8.0 percent versus 8.5 percent. Gross profit margin fell to 21.0 percent from 21.6 percent, mainly due to lower netted down revenue.

  3. What drove the increase in per-share earnings?

    GAAP diluted EPS rose 7.9 percent to $1.82, outpacing net income growth of 4.7 percent. Diluted weighted-average shares fell to 129.5 million from 133.5 million, which supported per-share results.

  4. What is the dividend and how is CDW returning capital?

    The Board declared a quarterly cash dividend of $0.630 per share, payable June 10, 2026 to stockholders of record at the close of business on May 25, 2026. As of March 31, 2026, about $484 million remained under the share repurchase program, and the company stated it has returned approximately $8.4 billion to stockholders through repurchases and dividends since its June 2013 IPO.

  5. What is management's outlook?

    Chair and CEO Christine A. Leahy said the company remains confident in its ability to exceed US IT addressable market growth by 200 to 300 basis points on a constant currency basis. The filing does not provide specific full-year financial guidance in the text provided.

04—Continue

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