CDW reports Q3 EPS $2.63, consensus $2.85

Reports Q3 revenue $5.51B, consensus $5.712B …”The team’s value as a trusted advisor and ability to meet our customers’ most pressing needs drove strong performance in cloud and end-point solutions,” said Christine A. Leahy, chair and chief executive officer, CDW (CDW). “While this performance delivered resilient margins that reinforce the integrity of our strategy, it was not enough to offset the impact of lower hardware solutions demand.” “Persistent economic uncertainty and growing complexity in the technology landscape resulted in elongated customer decision making and delays in projects,” said Albert J. Miralles, chief financial officer, CDW. “Despite the challenging market, our ability to optimize cash flow generation through effective management of our working capital provides strategic flexibility across our capital priorities including M&A and share repurchases.” “In this evolving and dynamic business environment, our value proposition is stronger than ever as customers turn to CDW to help them address mission-critical IT and operational needs across the full IT solutions stack and lifecycle. We continue to target exceeding US IT market growth by 200 to 300 basis points on a constant currency basis. To achieve this, we remain laser focused on meeting the needs of our more than 250,000 customers around the globe and remaining the partner of choice for more than 1,000 leading and emerging technology brands as the IT market evolves,” concluded Leahy.