CDW Stock Gains On Solid Q2 Beat; Sales Decline 8.5%
Portfolio Pulse from Lekha Gupta
CDW Corp reported a Q2 FY23 net sales decline of 8.5% Y/Y to $5.63 billion, beating the consensus of $5.40 billion. Gross margin expanded to 21.0% from 19.0% a year ago, aided by higher product margin on the lower mix in notebooks, increased rate across various categories, and a favorable mix of netted down revenue. Non-GAAP EPS of $2.56 beat the consensus of $2.35. CDW declared a quarterly cash dividend per share of $0.59. CDW shares are trading higher by 6.66% at $199.80.
August 04, 2023 | 11:42 am
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CDW Corp reported better than expected Q2 FY23 results, with net sales, gross margin, and Non-GAAP EPS all beating consensus. The company also declared a quarterly cash dividend per share of $0.59.
CDW Corp's better than expected Q2 FY23 results and the declaration of a dividend are likely to have a positive impact on the company's stock in the short term. The company's shares are already trading higher.
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IMPORTANCE 80
RELEVANCE 100