We have Simon, the Mission CEO now. He is on the senior leadership team so at least we have a smart person in charge of things around here. I think the whole cloud thing is really going to finally take off!
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This company is horrible, every partner makes fun of CDW behind their back. It’s time to jump ship to a company that isn’t ran my people that don’t even know technology. There hasn’t been a single manager at this company that has been impressive and the ones that were good recently left out of the blue.
@ht
Last time price was this low was 2020. Then covid boosted sales because of WFH business.
If there isn't continued earning bests quarter after quarter with significant increases in Rev/Profit... why would people want to buy shares when there are so many other places to put your $
Only positive I heard is they will do stock buy backs that could stabilize the price as they also are increasing dividends. Boost dividends enough and repeated beats.... then it may turn around.
Now how do you get rev from low $20 billion to mid $20's or closer to $30 billion? Won't happen with a glum and underincentivized workforce.
@hs We could very well be in the 90s tomorrow
How low do we think it could go? This is embarrassing!
OMG we are down $28 a share right now. WTF?!?!
Wow. Our stock is awful right now.
@hd
When you went missed earnings for almost 2 yrs straight then have 2 minor beats...
That shows that maybe they slapped a bandaid on the wound...but 2 yrs of missed earnings then all the bad decisions be made internally... the market highly disagrees with your opinion since we're down 20% in a single day. Back it up and buy up shares if you're so confident.
It'd be nice if everyone received stock as part of comp like Director level and higher but that 5% company discount they provide as a perk or benefit.... anyone still putting thier $ into CDW stock might as well light it on fire.
From almost $ 260 a share in April of 2024 to $110 almost exactly 2 yrs later is a horrendous show for leadership. Who actually still has thier back? But the new GTM is working awesome right? Commission cuts for sales doesn't really incentivize AM's to work harder to sell more when it's not worth it. This is what the masses in sales feels that weren't the best of the best. This impacts smaller accounts and you're seeing the results now.
A minor beat is better than missing but investors and the market are tired of the BS spewed on these earnings calls.
Now they blaming tariffs and world issues when other tech companies are all crushing it. Example...AMD today...we partner with them... guess we don't do as much as we thought in the IT world.
Earnings looked good overall. Profit grew slower than revenue but we did she positive growth again. Overall, a good earnings call and good results reported!
@h6
More like watching a dumpster fire
No accountability as well from leadership. Just recycling the same talking points from the last 8 earnings.
Glad to know they have tons of shares so they get a 20% one day hit as well.
Seems like a good time to adjust everyone's pay from manager above because they arw obviously helping drive the company lower.
Oh, my God, we're having a fire...
...
Sale...
Great job Chris. Please quit.
So much for Simon and his cloud traction. “Netted down revenues lower, impacting GM”. Meaning cloud su-ks. Thanks Bob and Simon. You are arrogant je-ks and you don’t know what you are doing.
@gk
There's always a backlog. Same excuses and phrases they repeat regardless if things arw good or bad.
They had failed multi billion $ acquisitions, upgraded internal systems and spent big $ for cr-ppy reasons (remember when they announced Salesforce, Leahy had SF CEO on that call which means they wasted big $ on that), and outsourced large chunks of backbone and bungled that as well (ask one of the new AR contacts in India how many accounts and emails they deal with and compare that to the AR that was let go stateside.
We used to have quarterly calls where leadership would answer questions and address concerns...not anymore with this leadership group.
From almost a peak of $260 almost exactly 2 yrs ago to $108.... meanwhile Nasdaq is at an all time high. So much for the large partnerships with Broadxom, Nvidia, AMD, Intel, etc... while AI and DC's bo-m....where is Leahy...focusing on the Olympics while not pushing to get into these large national projects.
Question is... will the slide continue from here.
That call was ALL about HW. We beat on HW. We have backlog on HW. Customers shifting there spend to HW due to shortages (true, but still need assistance on these complex setups and strategy). They may buy from CDW, but they are going elsewhere to get the true consulting. CDW cannot sell complex IT solutions over the phone, yet they still train and try to operate that way. Chromebooks and Printers yes. Complex AI, Cloud Builds, Security are not sold in a phone call, but through trust built with the decision makers in these companies. These decisions our customers are making are not like the old days where a customer can buy the commodity good for a couple points cheaper or because they like their account rep or every other criteria they used in the past. Now they must select the absolute most qualified firm and pay the premium to ensure everything is done properly with the right resources who know them and what they are trying to achieve and are looking for people who truely GET IT. Scale is this new world of IT is not done with entry level sales making phone calls, it's made with real world examples of how you have the right resources, the right amount of resources, and ability to provide that 1:1 hand holding they need through these challenging times.
CDW continues to try to be everything to everyone and this new GTM to keep the most talented engineers on the most complex projects and not being involved in everything else is what I hope is the saving grace.
My favorite question on the call was when one of the analyst asked CL about another major iniaitive. "Are you not afraid that rollling out yet another is too much disruption at once."
Don't even know what to think anymore.
The market did not buy the explanation on the earnings call. Leahy and Mirales kept saying the backlog is strong, but could not sufficiently answer why profits did not keep up with revenue growth.
There is clearly a structural issue with the business they are not dealing with.
@gb
Everyone looked so happy on presidents trip though.
With a 20% drop...hits leadership stock options so finally they are reaping what they sow. Lots of managers and directors on those trips as well...like they're the ones grinding to produce revenue and profit with customers. They never really have addressed any of the major issues instead making people the issues are smaller than they really are.
Now investors are speaking...seems like they are gas lighting investors on the earnings info as well using the recycled phrases and terms they used in the past.
@OP
Beat earnings but investors aren't d-mb.
After quarter after quarter of misses.... finally a beat but the #'s are basically reflecting the levels CDW was at years ago...
Investors want consistent GROWTH.
With poor leadership...they playing catchup on AI and are not even in the mix in helping construct AI DC's as an example...then trying to make #'s look better by outsourcing large chunks of backbone creating more redtape for sellers and everyone else (Salesforce partnership didn't help as we pay SF for thier pricey platform when CDW had a home grown CRM that they "said" was old and expensive to maintain). Seems like the people in charge are either purposely making bad decisions or they never deserved the titles they have in corporate America.
20% gone in 1 day ... how does that employee discount on shares look... at this point for employee stock program to be a "BENEFIT"...they should be awarding shares to people who HAVE TO or NEED TO stay.
You are placing too must trust and belief in Simon. He just isn’t that smart. Chris is a better leader than he is by far. I have worked with both of them and though Chris is not the greatest CEO we have ever had, she is better than this guy. Our chief commercial officer and head of enterprise biz ops are bigger liabilities to our success.
Bruh stop posting about yourself.
That's the beauty of YOY, it can hide the true story of what's going on within a company....last year our numbers su-ked, so even if we "beat" this year, it's like winning the losers bracket.....yay, we beat our poor performance from last year. Let's give Leahy another $10 mil!
The stock may go up but definitely not because of cloud or Simon. The cloud numbers are in the sewer and DV culture was quite literally wrecked by Kirby. We all hope that the new guard can fix it but probably not.
Sarcasm?