CDW Corporation (CDW) CEO Christine Leahy on Q2 2022 Results - Earnings Call Transcript

CDW Corporation (NASDAQ:CDW) Q2 2022 Earnings Conference Call August 3, 2022 8:30 AM ET

Company Participants

Steven O'Brien - Vice President of Investor Relations

Christine Leahy - President and Chief Executive Officer

Albert Miralles - Senior Vice President and Chief Financial Officer

Conference Call Participants

Samik Chatterjee - JPMorgan Chase & Co.

James Suva - Citigroup Inc.

Erik Woodring - Morgan Stanley

Matthew Sheerin - Stifel, Nicolaus & Company, Inc.

Ruplu Bhattacharya - Bank of America Merrill Lynch

Keith Housum - Northcoast Research Partners, LLC

Lauren Lucas - Evercore ISI

Operator

Hello, and welcome to the CDW Second Quarter 2022 Earnings Call. My name is Lauren, and I will be coordinating your call today. [Operator Instructions]

I would now hand over to host, Steve O'Brien, Vice President, Investor Relations to begin. Steve, please go ahead.

Steven O'Brien

Thank you, Lauren. Good morning, everyone. Joining me today to review our second quarter results are Chris Leahy, our President and Chief Executive Officer; Al Miralles, our Chief Financial Officer.

Our second quarter earnings release was distributed this morning and is available on our website, investor.cdw.com, along with supplemental slides that you can use to follow along with this call.

I'd like to remind you that certain comments made in this presentation are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. Those statements are subject to a number of risks and uncertainties that could cause actual results to differ materially. Additional information concerning these risks and uncertainties is contained in the earnings release and Form 8-K we furnished to the SEC today and the Company's other filings with the SEC. CDW assumes no obligation to update the information presented during this webcast.

Our presentation includes certain non-GAAP financial measures, including non-GAAP operating income, non-GAAP operating income margin, non-GAAP net income, and non-GAAP earnings per share. All non-GAAP measures have been reconciled to the most directly comparable GAAP measures in accordance with SEC rules. You'll find reconciliation charts in the slides for today's webcast and in our earnings release and Form 8-K we furnished to the SEC today.

Please note our financial results today include results from our acquisition of Sirius Computer Solutions, which closed December 1, 2021.

All references to growth rates or dollar amount changes in our remarks today are versus the comparable period in 2021 unless otherwise indicated. References to growth rates for hardware, software, and services today represent U.S. net sales only and include Sirius. They do not include results for CDW UK or Canada. References to growth rates for specific products and solutions including cloud and security today represent U.S. net sales only and exclude Sirius. The historic combined information of CDW and Sirius discussed herein is for illustrative purposes only and is not necessarily indicative of results that would have been achieved had the acquisition occurred at the beginning of the periods presented.