CDW Corp's first-quarter results miss on weak IT spending [Reuters]
CDW Corporation (CDW)
Last cdw corporation earnings: 2/6 07:00 am
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Source: Reuters
May 1 (Reuters) - CDW Corp missed analysts' estimates for first-quarter results on Wednesday, hurt by weak demand for its IT solutions as customers cut back their technology budgets, sending the company's shares down about 5.5% before the bell. Businesses are keeping their spending on technology under check and deferring large upgrades amid sticky inflation and high interest rates. "First quarter IT market conditions were weaker than expected ... caution, concern and complexity adversely impacting customers' capital investment decisions and elongating customer decision-making," CDW's Chief Financial Officer Albert Miralles said. The company provides IT solutions such as cloud and cybersecurity, and hardware products to enterprises and government customers in the United States, UK, and Canada. CDW posted first-quarter net sales of $4.87 billion, compared with analysts' estimates of $5 billion, according to LSEG data. On an adjusted basis, the company earned $1.92 per share,
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CDW
News
- Down -13.52% in 4 Weeks, Here's Why CDW (CDW) Looks Ripe for a Turnaround [Yahoo! Finance]Yahoo! Finance
- CDW Co. (NASDAQ: CDW) had its price target lowered by analysts at Citigroup Inc. from $295.00 to $260.00. They now have a "buy" rating on the stock.MarketBeat
- CDW Co. (NASDAQ: CDW) had its price target lowered by analysts at Stifel Nicolaus from $265.00 to $250.00. They now have a "buy" rating on the stock.MarketBeat
- CDW Co. (NASDAQ: CDW) had its price target lowered by analysts at JPMorgan Chase & Co. from $280.00 to $265.00. They now have an "overweight" rating on the stock.MarketBeat
- CDW Co. (NASDAQ: CDW) had its price target lowered by analysts at Barclays PLC from $261.00 to $232.00. They now have an "equal weight" rating on the stock.MarketBeat
CDW
Earnings
- 5/1/24 - Miss
CDW
Sec Filings
- 5/1/24 - Form DEFA14A
- 5/1/24 - Form 10-Q
- 5/1/24 - Form 8-K
- CDW's page on the SEC website