Sign in

    CDW Corp (CDW)

    You might also like

    CDW Corporation is a Fortune 500 company and a leading multi-brand provider of information technology (IT) solutions to a diverse range of customers, including small, medium, and large businesses, government, education, and healthcare sectors in the United States, United Kingdom, and Canada . The company's offerings span discrete hardware and software products to integrated IT solutions and services, which include on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security . CDW is vendor, technology, and consumption model unbiased, providing a broad selection of products and multi-branded solutions .

    1. Hardware - Offers a wide range of physical IT products, including computers, networking equipment, and data storage solutions.
    2. Software - Provides various software products, including operating systems, productivity applications, and enterprise software solutions.
    3. Services - Delivers IT services that encompass consulting, implementation, and managed services to support customer IT environments.
    4. Corporate Segment - Serves US private sector businesses with more than 250 employees, offering tailored IT solutions and services.
    5. Public Segment - Caters to government agencies, education, and healthcare institutions, providing specialized IT solutions and services.
    6. Small Business Segment - Focuses on US businesses with up to 250 employees, delivering IT products and services suited to smaller enterprises.
    7. Other (UK and Canada Operations) - Includes operations in the UK and Canada, offering a similar range of IT solutions and services as in the US.
    NamePositionStart DateShort Bio
    Christine A. LeahyChair, President, and Chief Executive OfficerJanuary 2019Christine A. Leahy has been serving as the Chair, President, and CEO of CDW since January 2019. She became Chair of the Board on January 1, 2023. Previously, she was the Chief Revenue Officer .
    Sona ChawlaChief Growth and Innovation OfficerJanuary 2020Sona Chawla has been serving as the Chief Growth and Innovation Officer at CDW since January 2020. Previously, she was the President of Kohl's Corporation .
    Christina M. CorleyPresident, International and Vice ChairOctober 25, 2024Christina M. Corley has been with CDW since September 2011. She transitioned to President, International and Vice Chair on October 25, 2024, focusing on international strategy .
    Frederick J. KulevichSenior Vice President, General Counsel & Corporate SecretaryOctober 2017Frederick J. Kulevich has been serving as the Senior Vice President, General Counsel and Corporate Secretary since October 2017. He became Interim Chief People Officer in November 2023 .
    Albert J. MirallesSenior Vice President and Chief Financial OfficerSeptember 2021Albert J. Miralles has been the Senior Vice President and CFO of CDW since September 2021. Previously, he was the EVP and CFO at CNA Financial Corporation .
    Mark C. ChongSenior Vice President, Product and Partner ManagementN/AMark C. Chong is the Senior Vice President, Product and Partner Management at CDW Corporation .
    Elizabeth H. ConnellySenior Vice President, Vertical MarketsN/AElizabeth H. Connelly serves as the Senior Vice President, Vertical Markets at CDW Corporation. Specific start date details are not provided.
    Michael S. DrorySenior Vice President, Strategy and Corporate DevelopmentN/AMichael S. Drory serves as the Senior Vice President, Strategy and Corporate Development at CDW Corporation. Specific start date details are not provided.
    Andrew J. EcclesSenior Vice President, Integrated Technology SolutionsN/AAndrew J. Eccles serves as the Senior Vice President, Integrated Technology Solutions at CDW Corporation. Specific start date details are not provided.
    Robert F. KirbySenior Vice President, Public SalesN/ARobert F. Kirby serves as the Senior Vice President, Public Sales at CDW Corporation. Specific start date details are not provided.
    Aletha C. NoonanSenior Vice President, Corporate SalesN/AAletha C. Noonan serves as Senior Vice President, Corporate Sales at CDW. Specific start date details are not provided.
    Anand J. RaoSenior Vice President, Chief Marketing and Digital OfficerN/AAnand J. Rao is the Senior Vice President, Chief Marketing and Digital Officer at CDW Corporation .
    Sanjay SoodSenior Vice President and Chief Technology OfficerN/ASanjay Sood is the Senior Vice President and Chief Technology Officer at CDW Corporation .
    Conor J. WaddellSenior Vice President, Integrated Technology SolutionsN/AConor J. Waddell serves as the Senior Vice President, Integrated Technology Solutions at CDW .
    Liz ConnellyChief Commercial Officer2018Liz Connelly joined CDW in 2018 and has been appointed as the Chief Commercial Officer, responsible for U.S. sales and sales enablement .
    1. Given the continued slow demand for networking and server solutions over the past three quarters, what specific strategies is CDW implementing to stimulate growth in these areas, and do you foresee any signs of recovery in the near term?
    2. With a solid pipeline but challenges in conversion due to customer uncertainty, how does CDW plan to accelerate pipeline conversion to revenue, and what are your expectations for improved demand conditions, especially considering the macroeconomic environment?
    3. In light of recent cybersecurity incidents like the CrowdStrike debacle, how has this affected CDW's relationships with security vendors and customers, and what impact do you anticipate on your cybersecurity business growth trajectory?
    4. Considering the worsening market conditions in the U.K. and ongoing federal funding challenges, how are these factors impacting CDW's overall performance, and what measures are you taking to mitigate these risks and achieve your growth targets?
    5. As customers, particularly in the SMB and mid-market segments, accelerate their shift toward cloud solutions over on-premise upgrades, how is CDW adapting its business model to address this trend, and what impact do you expect on your traditional hardware and infrastructure sales?
    Program DetailsProgram 1
    Approval DateFebruary 7, 2024
    End Date/DurationN/A
    Total additional amount$750 million
    Remaining authorization amount$733.5 million as of September 30, 2024
    DetailsThe program allows CDW Corporation to repurchase shares of its common stock in various transactions based on market conditions and other factors. It does not obligate the company to repurchase any minimum amount and can be modified, suspended, or discontinued at any time.
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2024183.5 Senior Notes5.500 3.3% = (183.5 / 5,607.5) * 100
    2025211.1 Senior Notes4.125 3.8% = (211.1 / 5,607.5) * 100
    20261,634.5 Term Loan Facility & Senior Notes2.670 29.2% = (1,634.5 / 5,607.5) * 100
    20281,100.0 Senior Notes4.250 & 3.276 19.6% = (1,100.0 / 5,607.5) * 100
    2029700.0 Senior Notes3.250 12.5% = (700.0 / 5,607.5) * 100
    2030600.0 Senior Notes5.100 10.7% = (600.0 / 5,607.5) * 100
    20311,000.0 Senior Notes3.569 17.8% = (1,000.0 / 5,607.5) * 100
    2034600.0 Senior Notes5.550 10.7% = (600.0 / 5,607.5) * 100

    Competitors mentioned in the company's latest 10K filing.

    • Hardware resellers
    • Manufacturers who sell directly to customers
    • Large service providers and system integrators
    • Communications service providers
    • Cloud providers
    • E-commerce companies
    • Office supply retailers

    These competitors are mentioned in the context of CDW's competitive landscape, which is expected to evolve with new technologies and consumption models such as cloud-based solutions, hyper-converged infrastructure, and embedded software solutions .

    NameStart DateEnd DateReason for Change
    Ernst & Young LLP2011 PresentCurrent auditor

    Recent developments and announcements about CDW.

    Financial Reporting

      Earnings Call

      ·
      1 hour ago

      CDW recently released its earnings call transcript, providing insights into its financial performance and strategic outlook for 2025. Key points from the call include:

      • Revenue and Profit Performance: CDW reported fourth-quarter net sales of $5.2 billion, a 5% increase from 2023 on an average daily sales basis. Gross profit was $1.16 billion, flat as reported but up 2% on an average daily sales basis. Non-GAAP operating income was nearly $500 million, down 4% from the previous year, and non-GAAP net income per share was $2.48, a decrease of $0.09 year-over-year.

      • Management’s Forward Guidance: For 2025, CDW expects the IT market to grow in low single digits and aims to outperform the market by 200 to 300 basis points on a customer spend basis. The company anticipates low single-digit gross profit growth, with a focus on profitable growth and effective capital allocation.

      • Market Conditions and Strategic Initiatives: CDW highlighted its strategic investments in cloud, SaaS, and security services, which have driven demand and contributed to its performance. The company also noted the challenges in the hardware market due to economic uncertainties but remains optimistic about growth opportunities in areas like healthcare and cloud services.

      • Analyst Questions and Management Responses: Analysts inquired about gross margin pressures and the impact of market conditions on CDW's financial model. Management acknowledged some margin compression but emphasized their strategic investments and efficiency measures to maintain stability. They also discussed the impact of changes in cloud subscription practices and their approach to navigating these changes.

      • Significant Comments on Strategic Initiatives: CDW is focusing on expanding its capabilities in high-growth areas such as healthcare and cloud services. The company has made strategic investments, including the acquisition of Mission Cloud Services, to enhance its service offerings and maintain competitive advantages.

      Overall, CDW is positioning itself for growth in 2025 by leveraging its diverse portfolio and strategic investments, despite facing challenges in certain market segments.