CDW Corporation (CDW) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and CDW published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. CDW reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• CDW reports its UK and Canadian operations together as Other. Both Q3 2026 and Q3 2025 had 64 selling days.
• CDW acquired Lovelytics, a data and AI services firm, on September 25, 2026, so it contributed only the last days of the quarter.

Source: CDW Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How CDW splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• CDW's Commercial revenue was $4.0 billion in Q3 2026, up 21% from $3.3 billion in Q3 2025, 59% of total revenue.
• CDW's Government revenue was $913 million in Q3 2026, up 10% from $831 million in Q3 2025, 14% of total revenue.
• CDW's Education revenue was $982 million in Q3 2026, up 8% from $914 million in Q3 2025, 15% of total revenue.
• CDW's Other (UK and Canada) revenue was $880 million in Q3 2026, up 26% from $698 million in Q3 2025, 13% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

CDW's release gives no revenue or EPS outlook for the next quarter or year. This statement from its chair and chief executive officer is the only growth expectation in it.

In its Q3 2026 release, CDW said:

“Our ability to address customers' needs across the full technology stack and lifecycle, together with our continued strategic investments, reinforces our confidence in our ability to outpace US IT addressable market growth by 200 to 300 basis points on a constant currency basis and drive sustainable long-term value for our customers and shareholders.”

Source: CDW Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the CDW forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP Net sales and diluted EPS, each as first reported in that quarter's release.

CDW's next report is expected around February 3, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

CDW reported Net sales of $6,754.5 million in Q3 2026, up 17.7% from $5,737.4 million. Both quarters had 64 selling days, so average daily sales rose by the same 17.7%, to $105.5 million from $89.6 million, and on a constant currency basis Net sales grew 17.8 percent. CDW put the growth down to customer demand primarily in data storage and servers, notebooks/mobile devices, and software. (CDW Q3 2026 release, Nov 4, 2026)

By customer channel, CDW's Commercial segment brought in $3,979.4 million, up 20.8%. Within it, Financial Services rose 73.2% to $571.5 million, Corporate 16.8% to $2,606.3 million and Healthcare 9.3% to $801.6 million. Government sales were $912.8 million (up 9.9%) and Education $982.2 million (up 7.5%). The UK and Canadian operations, reported together as Other, had $880.1 million, up 26.0%. (CDW Q3 2026 release, Nov 4, 2026)

By product, hardware was $4,945.5 million, or 73.2% of CDW's Net sales. Data Storage and Servers sales more than doubled to $975.0 million from $469.9 million, rising to 14.4% of Net sales from 8.2%, and Notebooks/Mobile Devices were $1,747.6 million. Software was $1,250.4 million and Services $526.1 million. CDW records some software and services revenue net, as an agent, so the share of Net sales those categories show is not representative of their share of gross profit. (CDW Form 10-Q, Q3 2026, Nov 4, 2026)

CDW resells more than 100,000 products and services from more than 1,000 vendor partners, including Apple, Cisco, Dell Technologies, HP Inc., Lenovo, Microsoft and Nvidia. In 2025 it generated over $2.0 billion of Net sales from each of its three largest vendor partners. On September 25, 2026 it completed the acquisition of Lovelytics, a data and AI services firm, for a base purchase price of $525 million. (CDW Form 10-K, 2025, Feb 20, 2026; CDW Form 10-Q, Q3 2026, Nov 4, 2026)

CDW's diluted EPS was $2.46 in Q3 2026, up 11.6% from $2.21, and its non-GAAP net income per diluted share was $3.26, up 20.4% from $2.71. The non-GAAP figure excludes, before tax, amortization of intangibles ($42.3 million), workplace optimization ($31.0 million, covering workforce reductions and a smaller real estate lease portfolio), equity-based compensation ($26.7 million), transformation initiatives ($15.2 million) and acquisition and integration expenses ($13.8 million). A year earlier, workplace optimization was $2.7 million and acquisition and integration expenses $1.1 million. (CDW Q3 2026 release, Nov 4, 2026)

CDW's gross profit margin fell 140 basis points to 20.5%, which it attributes to mix into and lower margin in certain product categories; for the Commercial segment, the 10-Q names data storage and servers and netcomm products. Interest expense, net rose 19.8% to $65.9 million on higher revolver borrowings and lower interest income on cash. The effective income tax rate rose to 26.9 percent from 25.3 percent, on lower tax credits and higher non-deductible expenses. (CDW Q3 2026 release, Nov 4, 2026; CDW Form 10-Q, Q3 2026, Nov 4, 2026)

CDW's diluted weighted-average share count fell to 125.7 million from 131.8 million. It repurchased 5.3 million shares for $653 million in the first nine months of 2026, and on May 13, 2026 its board added $1 billion to the repurchase program. With the Q3 results it declared a quarterly dividend of $0.680 per share, up from $0.630. (CDW Q3 2026 release, Nov 4, 2026; CDW Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

CDW's release gives no revenue or EPS outlook for the coming quarter or year. Its one forward statement on growth is the chair and chief executive officer's confidence that CDW can outpace US IT addressable market growth by 200 to 300 basis points on a constant currency basis. (CDW Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover CDW, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones CDW's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CDW is on is CDW a buy or a sell?, what analysts expect next is on the CDW forecast, and what the company does is on the CDW Corporation (CDW) stock page.

Every number on this page can be traced to a document CDW published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.