CDW Corp

Strong Q1 Performance: CDW reported net sales of $5.2 billion, an 8% increase year-over-year on an average daily sales basis. Gross profit was $1.1 billion, up 7% year-over-year. Non-GAAP operating income rose by 10% to $444 million, and non-GAAP net income per share increased by 12% to $2.15. This performance highlights effective expense management and the strength of CDW’s diverse product offerings.

Positive Healthcare Performance: The healthcare segment was a standout, with sales increasing by 20%. This growth is attributed to strategic investments in sales, technology, and industry expertise, indicating strong demand and an opportunity to further capture market share in the growing healthcare sector.

Cautious Outlook for 2025: CDW maintains its 2025 outlook, projecting low-single-digit growth in the U.S. IT market, with a growth premium of 200-300 basis points. Despite a strong start to the year, macroeconomic uncertainty, particularly in government and education spending, has resulted in a cautious and prudent forecast.