CDW said Net sales for the 3 months ended September 30, 2024 decreased $112 million, or 2.0%. The company attributed the decline mainly to lower netcomm products sales, partially offset by higher notebooks/mobile devices sales.

1. 01

   CDW said Net sales for the 3 months ended September 30, 2024 decreased $112 million, or 2.0%. The company attributed the decline mainly to lower netcomm products sales, partially offset by higher notebooks/mobile devices sales.

2. 02

   The company said Gross profit for the 3 months decreased $27 million, or 2.2%, while Gross profit margin was unchanged at 21.8%. It said Selling and administrative expenses fell 4.0%, and Operating income rose $3 million to $482 million.

3. 03

   CDW issued $600 million each of 5.100% Senior Notes due 2030 and 5.550% Senior Notes due 2034 in Q3 2024. At the same time, it settled a cash tender offer for $391 million of its 5.500% Senior Notes due 2024 and $389 million of its 4.125% Senior Notes due 2025.

4. 04

   CDW said it repurchased 1.6 million shares for $354 million in the 9 months ended September 30, 2024. It said net cash used in financing activities decreased $469 million over the same period, citing the Notes issuance and lower share repurchases as the main factors.

Key figures

Quarter ended September 30, 2024

Revenue

$5.5B

Operating income

$482M

Net income

$316M

EPS

$2.34

Gross profit

$1.2B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.