CDW reports Q3 EPS $2.72, consensus $2.60

Reports Q3 revenue $5.63B, consensus $ $5.87B .”This quarter’s exceptional profitability underscores the power of our strategy when underpinned by our resilient business model, relentless execution and financial rigor,” said Christine A. Leahy, chair and chief executive officer, CDW. “Technology remains the vital foundation of our customers’ abilities to achieve their mission critical outcomes and record profitability in a market facing ongoing uncertainty reinforces the value we deliver to our customers.” “Strong operating results, our agile business model, and our disciplined approach to capital allocation delivered record earnings per share results,” said Albert J. Miralles, chief financial officer, CDW. “We continued to convert earnings to cash at a productive rate, ahead of our targets, and optimize our use of cash flow through dividends and share repurchases, while maintaining an appropriate capital structure.” “Through this ongoing period of economic uncertainty, customers continue to turn to CDW to address their mission-critical IT and operational needs across the full IT solutions stack and lifecycle. We remain well-positioned to attain our target of exceeding US IT market growth by 200 to 300 basis points on a constant currency basis. To achieve this, we will continue our laser focus on meeting the needs of our more than 250,000 customers around the globe and remaining the partner of choice for more than 1,000 leading and emerging technology brands as the IT market continues to evolve,” concluded Leahy. …”