CDW Shares Dip As Q3 Sales Miss Amid Weak Hardware Demand And Customer Delays
Portfolio Pulse from Lekha Gupta
CDW Corporation's shares fell nearly 10% after reporting disappointing Q3 FY2024 results, with net sales and adjusted EPS missing expectations. The company cited weak hardware demand and customer delays as key issues. Despite a slight dividend increase, the market reacted negatively.
October 30, 2024 | 4:21 pm
News sentiment analysis
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NEGATIVE IMPACT
Argent Mid Cap ETF, which includes CDW, may see a negative impact due to CDW's poor Q3 performance and subsequent share price drop.
As CDW is a component of the Argent Mid Cap ETF, its poor performance and share price drop could negatively impact the ETF's value.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
CDW Corporation reported a 2% decline in Q3 net sales, missing expectations, with significant drops in Corporate and Public segments. Adjusted EPS also missed, leading to a nearly 10% drop in share price.
CDW's Q3 financial results were below expectations, with declines in key segments and missed EPS, leading to a significant drop in share price. The market reacted negatively to the weak performance and outlook.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Professionally Managed Portfolios Congress SMid Growth ETF, which includes CDW, might experience a negative impact due to CDW's disappointing Q3 results.
CDW's inclusion in the CSMD ETF means its poor Q3 performance and share price decline could negatively affect the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50