Q1 26 EPS
$2.28
MISS 0.27%
Est. $2.29
Q1 26 Revenue
$5.68B
BEAT +3.53%
Est. $5.49B
vs S&P Since Q1 26
-7.6%
TRAILING MARKET
CDW -7.6% vs S&P +0.1%
Market Reaction
Did CDW Beat Earnings? Q1 2026 Results
CDW Corporation delivered a mixed first quarter for fiscal 2026, posting revenue that cleared expectations while earnings landed just shy of the bar, snapping a four-quarter EPS beat streak by the narrowest of margins. The IT solutions provider repor… Read more CDW Corporation delivered a mixed first quarter for fiscal 2026, posting revenue that cleared expectations while earnings landed just shy of the bar, snapping a four-quarter EPS beat streak by the narrowest of margins. The IT solutions provider reported net sales of $5.68 billion, beating the $5.49 billion consensus by 3.53% and marking a 9.3% year-over-year gain, as broad-based demand for servers, data storage, netcomm products, and notebooks drove volume across every customer segment. Non-GAAP earnings per diluted share came in at $2.28, missing the $2.29 consensus by just 0.27%, with gross margin compressing 60 basis points to 21.0% as a mix shift toward hardware, recognized on a gross basis at lower margins, weighed on profitability. The Commercial segment led with $3.57 billion in net sales, up 9.6%, while the international Other segment posted the fastest growth at 17.9%. Management noted customers are actively transitioning from AI exploration into production environments, reinforcing CDW's confidence in exceeding US IT addressable market growth by 200 to 300 basis points on a constant currency basis going forward.
Key Takeaways
- • Increased customer demand for data storage and servers
- • Strong demand for netcomm products
- • Growth in software sales
- • Increased notebooks/mobile devices demand
- • Financial Services customer sales growth of 28.2%
- • Strong UK and Canada operations growth of 17.9%
- • All segments experienced improved customer spending year-over-year
- • Lower diluted share count from ongoing share repurchases
CDW Forward Guidance & Outlook
CDW expressed confidence in its ability to exceed US IT addressable market growth by 200 to 300 basis points on a constant currency basis. Management highlighted that customers are moving from AI exploration into production environments, which positions CDW to capture demand. The company noted that while economic and geopolitical uncertainty persists, all segments continued to experience improved customer spending. CDW continues to invest in AI initiatives and services-led, full-stack capabilities to support its AI-forward strategy.
CDW YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
CDW Revenue by Segment
With YoY comparisons, source: SEC Filings
“CDW delivered a strong first quarter, reflecting outcome-driven execution in a complex and fast-moving environment. As customers move from AI exploration into real, production environments, they are increasingly relying on partners with the integration, governance, and lifecycle expertise to execute at scale. Our diversified end-markets, services-led, full-stack capabilities, and continued progress on our AI-forward strategy position us to capture demand and deliver value as the year unfolds.”
— Christine A. Leahy, Q1 2026 Earnings Press Release
CDW Earnings Trends
CDW vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CDW EPS Trend
Earnings per share: estimate vs actual
CDW Revenue Trend
Quarterly revenue: estimate vs actual
CDW Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $2.29 | $2.28 | -0.27% | $5.68B | +3.53% |
| Q4 25 BEAT FY | $2.44 | $2.57 | +5.13% | $5.51B | +3.36% |
| FY Full Year | $9.90 | $10.02 | +1.26% | $22.42B | +0.76% |
| Q3 25 BEAT | $2.62 | $2.71 | +3.35% | $5.74B | -0.21% |
| Q2 25 BEAT | $2.49 | $2.60 | +4.36% | $5.98B | +8.42% |
| Q1 25 BEAT | $1.96 | $2.15 | +9.54% | $5.20B | +5.32% |