CDW’s UK business grew “double digits” in Q3, its CEO revealed as she heaped praise on its “standout performance” in an “unsettled” market.
The world’s largest reseller saw net sales pogo 4% year on year to $5.7bn in the three months to 30 September 2025.
That’s down on the 10.2% and 6.7% growth the Nasdaq-listed behemoth logged in Q2 and Q1, respectively, but up on last year’s 1.8% sales dip.
On an earnings call, CEO Christine Leahy lamented the “unpredictability that we’ve been living in for about nine months”, characterising the recent US government shutdown as “one more curveball in the many curveballs that have hit us in 2025”.
“Standout” UK
SMB was a bright spot for the giant reseller, with sales from that segment (CDW’s smallest) powering up 14.2% to $434m, however.
CDW’s international businesses in the UK and Canada also punched above their weight, as their collective net sales hiked 9.1% to $698.4m.
Although that’s down slightly on the 11.6% and 9.5% growth they recorded in Q2 and Q1, respectively, Leahy characterised their performance as “standout”.
“Both teams executed extremely well under unsettled conditions. UK net sales increased by double digits and Canada by mid single digits,” she said on the call, a transcript of which can be found here.
“Profitability in both markets grew faster than net sales.
“Clearly, this quarter’s results demonstrate the power of the first driver of our performance, our balanced portfolio of customer end markets.”
“Seventh inning stretch” on PC refresh
Looking at CDW’s wider performance, total net sales rose 4% to $5.7bn and gross profit by 4.6% to $1.26bn, while net income fell 8% to $291m.
Software sales rose 4%, services by 9% and hardware by 3%.
Within that final category, client device growth hit 7%, with Leahy saying when it comes to PC refresh “we’re in the kind of later stage of the mid innings”.
“If you had me pin it down, I’d say sixth inning and probably rounding around to the seventh inning stretch,” she said.
“So we continue to see healthy demand and would expect that to continue over the next few quarters.”
CDW made progress on its company-wide mission to embed AI “into the core” of its business during the quarter, Leahy claimed.
“From conversational AI on cdw.com that enhances product discovery and improves sales conversion to intelligent agents that streamline presales qualification and self directed agents created by our coworkers, we are embedding AI across the enterprise,” she said.
CDW is exercising “continued prudence” in its outlook due to the recent US government shutdown, CFO Al Morales said.
This means the reseller giant’s expectation for low-to-mid-single-digit gross profit growth for the year is unchanged.
