CDW sees FY23 adjusted EPS modestly below FY22, consensus $10.39

"First quarter Net sales were approximately $5.1 billion. A greater mix of high-value solutions and services contributed to strong first quarter gross margin but the magnitude of the shift to more cautious buying was significant, and this resulted in first-quarter non-GAAP operating income margin at the low end of our full-year range," said Albert J. Miralles, chief financial officer, CDW. "In recognition of the heightened level of customer caution and reduced IT spend, efforts will continue to align our fixed cost base with the level of anticipated demand. We now look for full-year 2023 non-GAAP earnings per share on a diluted basis to be modestly below full-year 2022."