CDW Corporation has reported its financial results for 2024, highlighting a challenging demand environment which led to a 2 percent decline in net sales, totaling $21.0 billion. Gross profit also saw a slight decrease of approximately 1 percent. Despite these downturns, the company demonstrated resilience in its operational performance, as its non-GAAP operating income margin increased by 2 percentage points from its 2019 level, attributable to the successful execution of its strategic initiatives. Non-GAAP operating income and non-GAAP net income per share both experienced declines, with reductions of roughly 5 percent and 4 percent, respectively. However, CDW's broad portfolio of integrated technology solutions and services continues to serve approximately 250,000 customers across 150 countries, maintaining its strong market position. CDW generated more than $1.0 billion in adjusted free cash flow, which facilitated the return of $832 million to shareholders through dividends and share repurchases in 2024. Additionally, the Board of Directors took action in December 2024 to increase the company's share repurchase program, reiterating its commitment to returning excess free cash flow to stockholders.
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