CDW (CDW) Q2 FY26 earnings call

CDW delivered record Q2 FY26 net sales and non-GAAP EPS, driven by robust demand for AI readiness and infrastructure modernization, particularly from enterprise customers. While gross margins faced pressure from a hardware-heavy mix, operating leverage improved as expected, and the company anticipates further efficiency gains from its "geared for growth" initiatives. Management raised its full-year outlook, expecting continued strength in underlying demand and a normalization of free cash flow conversion in the second half of the year.