CDW Q2 Profit Rises, Tops Estimates; Declares Dividend - Quick Facts

(RTTNews) - CDW Corp. (CDW), a provider of IT solutions, Wednesday said its second-quarter net income was $279 million, an increase of 1.9 percent from $274 million last year. Earnings per share were $2.04, a growth of 5.6 percent from prior year's $1.93.

Adjusted net income was $340 million, compared to $286 million a year ago. Adjusted earnings per share were $2.49, compared to last year's $2.02.

On average, nine analysts polled by Thomson Reuters expected earnings of $2.42 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales in the second quarter were $6.15 billion, an increase of 19.4 percent from $5.15 billion a year ago. Analysts estimated revenues of $6.19 billion for the quarter.

Looking ahead, Christine Leahy, president and chief executive officer, said, "We expect to exceed our initial 2022 outlook to outpace US IT market growth by 200 to 300 basis points on a constant currency basis."

Separately, CDW announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per share to be paid on September 9, to all stockholders of record as of the close of business on August 25.

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