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CDW · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
CDW's net sales rose 10.0% to $6.57B, but operating income grew only 2.0% to $428.6M and net income 1.2% to $274.4M as gross margin slipped to 20.1% from 20.8%.
Net income
$274M
up 1.2% y/y
Net sales
$6,572M
up 10.0% y/y
Operating income
$429M
up 2.0% y/y
Gross profit
$1,320M
up 6.3% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net sales | $6,572 · +10.0% |
| Cost of sales | $5,252 · +10.9% |
| Gross profit | $1,320 · +6.3% · 20.1% margin |
| Selling and administrative expenses | $891 · +8.6% |
| Operating income | $429 · +2.0% · 6.5% margin |
| Interest expense, net | $60.2 · +6.0% |
| Other income (expense), net | $4.5 · +200% |
| Income before income taxes | $373 · +2.2% |
| Income tax expense | $98.5 · +5.1% · 26.4% effective rate |
| Net income | $274 · +1.2% · $2.15/sh · 4.2% margin |
Verdict: CDW's net sales rose 10.0% to $6.57B, but operating income grew only 2.0% to $428.6M and net income 1.2% to $274.4M as gross margin slipped to 20.1% from 20.8%.
Source and notation
Source: CDW press release, 8-K EX-99.1 of 08/05/2026 (SEC EDGAR).
Open as an image: CDW, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “CDW Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/cdw/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/cdw/q2-2026"><img src="https://whoreportstoday.com/t/cdw/q2-2026/sankey.png" alt="CDW Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/cdw/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/cdw/q2-2026">CDW Q2 2026 earnings chart (Who Reports Today)</a>
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- Commercial segment net sales of $3,965 million were 9.2% higher, and Government segment net sales of $848 million were 13.6% higher.
- Operating income was $429M (+2.0% y/y), an operating margin of 6.5% vs 7.0% a year ago.
- Gross profit of $1.32B is a gross margin of 20.1% vs 20.8% a year ago.
- Income tax of $98.5M implies an effective rate of 26.4% vs 25.7% a year ago.
- Diluted EPS was $2.15 vs $2.05 a year ago (+4.9%), while net income changed +1.2%.
What distorts the picture in this report and what to watch beyond the headlines.
CDW — an IT solutions reseller that sells hardware, software and cloud services from many vendors, along with integration, security and managed services, to businesses, government agencies, schools and healthcare organizations.
In 2025 it reported three U.S. segments, Corporate, Small Business and Public, with its UK and Canada operations grouped as Other; from 2026 it is regrouping into Commercial, Government and Education. · Source: annual report (Form 10-K, SEC)
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