CDW Corp — Form 8-K
Filed August 5, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
CDW reported Q2 2026 net sales of $6,572.2M (+10.0% YoY), gross profit of $1,319.8M (+6.3%), and net income of $274.4M (+1.2%). Diluted EPS grew 5.1% to $2.15 from $2.05. The Board declared a quarterly dividend of $0.630/share (payable 9/10/2026), marking the 12th consecutive year of dividend increases. Gross margin contracted 70bps to 20.1%, driven by hardware mix and lower margins in certain categories. Operating leverage was offset by 8.6% SG&A growth. Non-GAAP metrics showed stronger underlying performance: non-GAAP EPS +11.9% to $2.91. Share count declined to 127.4M from 132.4M (4% buyback). Total debt stood at $5.8B; net debt $5.5B.
Why this rating
Solid mid-single digit organic growth, modest EPS expansion, and consistent shareholder returns; modest margin compression and slowing GAAP operating leverage are headwinds; event is routine quarterly reporting relative to $23.4B market cap.
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