- CDW press release ( NASDAQ: CDW ): Q4 Non-GAAP EPS of $2.50 beats by $0.02 .
- Revenue of $5.44B (-1.8% Y/Y) misses by $750M .
- CDW also announced the approval by its Board of Directors of a $750 million increase to its share repurchase authorization.
- CFO comment: "We optimized the use of cash flow after paying dividends to achieve our 2022 goal of reducing our net leverage to the targeted range. In 2023, in addition to our continued focus on dividend increases and managing our net leverage, we are also pleased to re-establish our capital allocation priorities of M&A and share repurchases."
- CEO comment: "In 2023, we are well-positioned to continue our track record of outpacing the US IT market growth by 200 to 300 basis points on a constant currency basis. To accomplish this, we will maintain our laser focus on meeting the needs of our more than 250,000 customers and remaining the partner of choice for more than 1,000 leading and emerging technology brands as the technology market continues to evolve."
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CDW Non-GAAP EPS of $2.50 beats by $0.02, revenue of $5.44B misses by $750M