CDW CORPORATION Reports Q2 Earnings Results for FY2023
August 6, 2023
🌥️Earnings Overview
On August 2 2023, CDW CORPORATION ($NASDAQ:CDW) reported its FY2023 Q2 earnings results. For the quarter ending June 30 2023, revenue was USD 5626.1 million, an 8.5% decrease compared to the same quarter of the previous year. Net income stood at USD 262.6 million, 6.0% lower than the same period of the prior year.
Market Price
The stock opened at $187.4 and closed at a high of $197.0, a positive increase of 5.2% from its prior closing price of 187.3. This marks the highest closing price for the company since the start of the fiscal year. In addition to the financial results, CDW CORPORATION announced that it is expanding its presence in Europe with the acquisition of a cloud computing provider in the region. The move is part of the company’s wider strategy to become a global leader in enterprise technology solutions. CDW CORPORATION also revealed that it has completed a major reorganization of its workforce, which has resulted in a more streamlined operations and improved efficiency.
This has led to cost savings that have enabled the company to invest in new products and services. Overall, CDW CORPORATION’s strong second quarter results and outlook for the remainder of FY2023 have been received positively by investors. The stock has been steadily increasing since the beginning of the year and is currently trading close to its all-time high. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cdw Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 22.38k | 1.08k | 4.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cdw Corporation. More…
| Operations | Investing | Financing |
| 1.17k | -219.7 | -1.29k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cdw Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 12.99k | 11.37k | 12.04 |
Key Ratios Snapshot
Some of the financial key ratios for Cdw Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.1% | 14.0% | 7.5% |
| FCF Margin | ROE | ROA |
| 4.6% | 65.5% | 8.0% |
Analysis
As a registered user of GoodWhale, you have access to an analysis of CDW CORPORATION‘s financials. Risk Rating indicates that CDW CORPORATION is a medium risk investment in terms of both financial and business aspects. In addition, GoodWhale has detected 1 risk warnings in non financial areas. To find out more about this risk, become a registered user and explore the analysis of CDW CORPORATION’s financials in more detail. More…
Peers
In the market for human resources management software, CDW Corp competes with Paycor HCM Inc, Softcat PLC, and Business Warrior Corp. All four companies offer software that helps businesses manage employee data, payroll, and benefits.
– Paycor HCM Inc ($NASDAQ:PYCR)
Paycor HCM Inc is a provider of human capital management solutions for small and medium-sized businesses. The company offers a cloud-based platform that enables businesses to manage their human resources, payroll, and benefits. Paycor HCM Inc has a market cap of 5.04B as of 2022 and a return on equity of -6.69%. The company’s human capital management solutions enable businesses to manage their human resources, payroll, and benefits more effectively and efficiently.
– Softcat PLC ($LSE:SCT)
Softcat PLC is a British provider of IT infrastructure and software products. The company is headquartered in Marlow, Buckinghamshire, and has over 4,000 employees. Softcat PLC is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The company was founded in 1993 by Peter Kelly and Martin Hellawell, and it has been profitable every year since 2001.
Softcat PLC’s market cap is 2.23B as of 2022. The company’s ROE is 59.71%. Softcat PLC is a provider of IT infrastructure and software products. The company was founded in 1993 and it has been profitable every year since 2001.
– Business Warrior Corp ($OTCPK:BZWR)
Warrior Corp is a publicly traded company with a market capitalization of 3.69 million as of 2022. The company has a return on equity of -25.43%. Warrior Corp is engaged in the business of providing military training and support services to the United States government and its allies.
Summary
CDW CORPORATION‘s second quarter results for FY2023 saw total revenue decrease 8.5% year-over-year to USD 5626.1 million, and net income decrease 6.0% YoY to USD 262.6 million. As a result, the stock price of CDW Corporation increased the same day. Investors should pay close attention to the company’s performance going forward, as the 8.5% decline in revenue and 6.0% decline in net income could point to underlying issues that need to be addressed. Additionally, investors should also analyze the company’s future strategic plans and competitive landscape to determine whether their investment is likely to be profitable.
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