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CDW Q2 Earnings Call Highlights
['Sarita Garza']
Markets Daily
Chief Executive Officer Chris Leahy said net sales, gross profit and non-GAAP EPS each established all-time quarterly records.
Commercial net sales rose 9%, including an 11% increase in corporate sales, which CDW attributed to infrastructure modernization, cloud and AI-readiness programs.
Healthcare sales grew 9%, supported by demand for uses including AI-enabled claims management and clinical documentation, while financial-services sales increased 2%.
International sales increased about 23%, led by a record quarter in Canada and continued momentum in the United Kingdom.
Adjusted free cash flow for the first half was $278 million, or 42% of non-GAAP net income, below the company’s typical target of converting 80% to 90% of non-GAAP net income to cash.