CDW Corporation Q3 2026 Earnings Recap

CDW’s shares rose 12.7% after earnings, as 18% sales growth and 20% growth in non-GAAP EPS highlighted broad-based demand and operating leverage. AI-related infrastructure investment helped drive record quarterly hardware and software sales.

Key Takeaways

• Net sales increased 18% to $6.8 billion; gross profit rose 10% to $1.4 billion.
• Non-GAAP operating income grew 17% to $620 million, while non-GAAP diluted EPS increased 20% to $3.26, partly supported by opportunistic share repurchases.
• Growth spanned segments: commercial sales rose 21%, international 26%, government 10%, and education 8%.
• Hardware sales increased 21%; data storage and servers more than doubled, and NetComm grew 9%.
• Adjusted free cash flow exceeded $500 million. The transcript provided does not include detailed forward guidance.