CDW Q2 Earnings Beat Estimates, But Stock Tumbles 8.6% Pre-Market
CDW sits 21% above its 52-week low of $97.12.
Summary
CDW reported Q2 net sales of $6.57 billion, up 10% year-over-year, with adjusted EPS of $2.91 beating expectations. Despite the beat, shares fell 8.55% in pre-market trading to $140.84. The board declared a quarterly dividend of $0.63 per share, following a $1 billion buyback authorization in May. CFO Albert Miralles announced his retirement in 2027, adding leadership transition uncertainty.
At the time of this announcement, CDW was trading at $118.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $19.7B. The 52-week trading range was $97.12 to $173.38. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.