CDW (CDW) Tops Q1 EPS by 22c

CDW (NASDAQ: CDW) reported Q1 EPS of $1.74, $0.22 better than the analyst estimate of $1.52. Revenue for the quarter came in at $4.84 billion versus the consensus estimate of $4.59 billion.

“The diversity of our customer end markets and our solutions portfolio drove our record first quarter results, and reinforced confidence in our strategy. During the quarter, customers focused on remote enablement and investments for the future. Technology spend rebounded in our channels most impacted last year due to the COVID-19 pandemic,” said Christine A. Leahy, president and chief executive officer, CDW. “I am extremely proud of the commitment, agility and resolve of our coworkers, who continued to successfully deliver customer outcomes and capabilities across the full technology solutions stack and lifecycle.”

“Strong operating results were amplified by share repurchases, delivering a 26 percent increase in Non-GAAP net income per diluted share,\" said Collin B. Kebo, chief financial officer, CDW. “Given this quarter\'s results and our expectations for the balance of the year, we now expect 2021 constant currency Non-GAAP net income per diluted share growth of low double-digits.\"

“We expect to exceed our previous 2021 outlook of outpacing the US IT market growth by 200 to 300 basis points on a constant currency basis. We will continue to execute our strategy, invest in the business, and be laser-focused on meeting the needs of our more than 250,000 customers in the United States, the United Kingdom and Canada and remaining the partner of choice for more than 1,000 leading and emerging technology brands as the technology market continues to evolve," concluded Leahy.

For earnings history and earnings-related data on CDW (CDW) click here.

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