Filing Flows › CDW (CDW) › Q1 2026
CDW (CDW) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
CDW (CDW) reported revenue of $5.7B for the first quarter 2026 (Q1 2026), +9% from a year earlier and +3% from the quarter before. Operating margin was 6.6%, net earnings $235M (4.1% of revenue).
CDW, Q1 2026: revenue $5.7B (+9% year over year), operating margin 6.6%, net earnings $235M, operating cash flow $275M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.7B | +3% | +9% |
| Gross profit | $1.2B | -5% | +6% |
| Operating profit | $376M | -13% | +4% |
| Net earnings | $235M | -16% | +5% |
| Operating cash flow | $275M | -37% | -4% |
| Free cash flow | $248M | -37% | -5% |
What changed
Revenue was $5.7B in Q1 2026, up 9% year over year and up 3% from the previous quarter. Notebooks/Mobile Devices was the largest line at 25% of revenue. Data Storage and Servers added $0.17B year over year (up 32%), 35% of the total change. Desktops declined 4%.
Gross margin was 21.0%, down 0.6 points from Q1 2025. Operating profit was $0.38B, a 6.6% margin (down 0.3 points year over year). Of the extra revenue versus Q1 2025, 3% reached operating profit, below the 7% margin then. Operating expenses grew 7% against revenue growth of 9%. Net earnings were $0.24B, up 5% year over year. The effective tax rate was 26.2%.
Operating cash flow was $0.27B (down 4% year over year), 117% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.06B. Capital expenditures of $0.03B left free cash flow of $0.25B.
Questions
What was CDW's revenue in the first quarter 2026?
CDW (CDW) reported revenue of $5.7B for the first quarter 2026 (Q1 2026), +9% from a year earlier and +3% from the quarter before.
Was CDW profitable in the first quarter 2026?
Operating profit was $376M (6.6% of revenue) and net earnings $235M.
Source: CDW 10-Q on SEC EDGAR.