CDW · 10-Q · 2026Q3 · Full report
Operating Income and Margins
CDW Corp · 2026-11-04 · Importance 48 · Surprise 40 · Contradicted
Operating income rose 10.4% to $489.5 million in the third quarter but operating margin declined from 7.7% to 7.2%. For the first nine months, operating income increased 5.6% to $1,294.1 million and margin fell from 7.2% to 6.8%. Non-GAAP operating income increased 16.8% to $619.8 million for the quarter and 8.9% to $1,627.7 million for nine months; non-GAAP margin was 9.2% for the quarter and 8.6% year to date. Higher gross profit supported income growth, while lower gross margins and higher expenses constrained reported operating margins.
Key facts
- For the three months ended September 30, 2026, CDW operating income increased 10.4% to $489.5 million, while operating income margin decreased to 7.2% from 7.7%. source
- For the nine months ended September 30, 2026, CDW operating income increased 5.6% to $1,294.1 million, while operating income margin decreased to 6.8% from 7.2%. source
- For the three months ended September 30, 2026, CDW net income increased 6.5% to $309.8 million. source
- For the nine months ended September 30, 2026, CDW net income increased 4.1% to $819.6 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +1.0% | For the nine months ended September 30, 2026, CDW operating income increased 5.6% to $1,294.1 million, while operating income margin… |
| net_income | positive | realized | +0.5% | For the nine months ended September 30, 2026, CDW net income increased 4.1% to $819.6 million. |
| margin | negative | realized | -0.4% | For the nine months ended September 30, 2026, CDW operating income increased 5.6% to $1,294.1 million, while operating income margin… |