CDW · 10-Q · 2026Q3

CDW Corp

Filed 2026-11-04 · Consumer · View original filing on EDGAR

Everything CDW's SEC filings said, ranked

Ranked Events

• Liquidity and Debt PositionImportance 79 · Surprise 66
  At September 30, 2026, CDW held $1.5 billion in cash and had $1.9 billion of available borrowing capacity under its revolving loan facility. Total unsecured indebtedness was $7.1 billion, compared with $5.6 billion a…
• Revenue Performance and MixImportance 69 · Surprise 64
  For the third quarter, Commercial sales increased 20.8% to $3,979.4 million, Government increased 9.9% to $912.8 million, Education increased 7.5% to $982.2 million, and Other increased 26.0% to $880.1 million. Within…
• Capital Return ProgramImportance 52 · Surprise 42
  CDW repurchased 5.3 million shares for $653 million during the first nine months of 2026, and its Board authorized a $1 billion increase to the repurchase program on May 13, 2026. The company paid three 2026 quarterly…
• Operating Income and MarginsImportance 48 · Surprise 40
  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…
• Geographic Market CommentaryImportance 41 · Surprise 48
  CDW’s Other category, comprising CDW UK and CDW Canada, recorded stronger demand for data storage and servers and notebooks/mobile devices. The filing reports growth across both UK and Canada operations but does not…
• Market Demand TrendsImportance 38 · Surprise 24
  Customer demand drove third-quarter sales growth primarily in data storage and servers, notebooks/mobile devices, and software. Nine-month demand also contributed to growth in netcomm products. Demand was higher across…
• Operating Cash Flow TrendsImportance 36 · Surprise 40
  Net cash provided by operating activities decreased $152.9 million to $618.5 million for the first nine months of 2026. The decline primarily reflected accounts receivable and inventory cash uses, partially offset by…
• Operating Expense TrendsImportance 36 · Surprise 40
  Selling and administrative expenses increased 10.3% to $895.8 million in the third quarter and 8.6% to $2,601.0 million in the first nine months. Quarterly growth primarily reflected higher performance-based…
• Acquisition / Partnership / DivestitureImportance 34 · Surprise 42
  CDW acquired Lovelytics Data LLC and certain affiliated entities in 2026, with a substantial portion of the acquisition funded using proceeds from its third-quarter senior-note issuance. The acquisition contributed to…
• Gross Margin DriversImportance 31 · Surprise 32
  Consolidated gross margin fell 140 basis points to 20.5% in the third quarter and 90 basis points to 20.5% for the first nine months, as product mix shifted toward categories with lower margins. Third-quarter…
• Income Tax Rate ChangesImportance 29 · Surprise 22
  The effective tax rate increased to 26.9% in the third quarter of 2026 from 25.3% a year earlier, while quarterly tax expense rose 16.0% to $114.1 million. For the first nine months, the effective rate was 26.5%,…
• Supply Chain And InventoryImportance 26 · Surprise 24
  CDW reported higher inventory associated with customer-driven stocking positions as demand increased, hardware costs rose, and inventory was held under product financing arrangements. The company said these factors…
• AI Infrastructure DemandImportance 26 · Surprise 24
  The filing describes increased demand for memory-intensive products as a result of rapid AI application adoption and related data center investment. Customer technology priorities include modernizing and optimizing…
• Interest Expense TrendsImportance 23 · Surprise 22
  Net interest expense increased 19.8% to $65.9 million in the third quarter and 7.4% to $181.4 million for the first nine months of 2026. The increases primarily reflected higher average borrowings under the senior…
• Macroeconomic Factors ImpactImportance 17 · Surprise 24
  CDW says complex economic conditions reflect uncertainty around evolving global trade policies and geopolitical conditions. These conditions, together with broader economic factors that may affect interest rates, have…
• Government Funding UncertaintyImportance 10 · Surprise 6
  CDW identifies changes and uncertainty in spending policies, budget priorities, timing, and funding levels as factors influencing government, healthcare, and education customer purchases. It warns that current or…

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