Company Overview - Badger Meter, Inc. (NYSE: BMI) has been innovating in water technology for over a century, providing industry-leading water solutions that include flow measurement, quality, and other system parameters [1]. Industry Insights - The company operates as a global provider in the water technology sector, focusing on solutions that enhance water management and measurement [1].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-06706 BADGER METER, INC. (Exact name of registrant as specified in its charter) 39-0143280 (I.R.S. Employer Identification ...

Badger Meter, Inc (BMI) reported earnings per share (EPS) of $1.08 for third-quarter 2024, beating the Zacks Consensus Estimate by 5.9%. Also, the bottom line compared favorably with the year-ago quarter's EPS of 88 cents. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar Quarterly net sales were $208.4 million, up 12% from $186.2 million in the year-ago quarter. The uptick resulted from continued strong yet normalizing demand for its tailorable water management solutions. However, th ...

Financial Data and Key Metrics Changes - The company reported a 12% year-over-year sales growth in Q3 2024, following a 26% increase in the prior year comparable quarter [4][5] - Operating margins reached a record high of 19.5%, with gross margins improving to 40.2%, up from 39.1% in the prior year [6][7] - Consolidated EPS improved by 23% to $1.08 from $0.88 in the prior year [9] - Free cash flow reached a record $42 million, a 48% increase from $28 million in the previous year [9] Business Line Data and Key Metrics Changes - Total utility water product line sales increased by 14% year-over-year, driven by strong demand for the BlueEdge suite of utility smart water solutions [5] - Software as a Service (SaaS) revenues grew approximately 35% in the quarter, reflecting increased customer reliance on the BEACON digital solution [5][6] - Sales for the flow instrumentation product line remained flat, with solid order trends in focused water-related applications [6] Market Data and Key Metrics Changes - The company anticipates fewer customer operating days in Q4 due to the U.S. holiday season, which may impact sales [6][13] - Hurricane-related recovery activities could delay certain utility projects in the Southeastern U.S., although the impact is still uncertain [6][13] Company Strategy and Development Direction - The company continues to focus on high single-digit sales growth rates over the strategic cycle, with a strong opportunity funnel and bid pipeline [13] - The BlueEdge suite is designed to provide tailored solutions for customers, enhancing their ability to manage water efficiently [10][11] - The company remains committed to capital allocation priorities, including R&D leadership, dividend increases, and strategic M&A opportunities [14][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver strong results despite potential unevenness in quarterly performance [16][20] - The macro drivers for technology adoption in the water industry are becoming more pronounced, particularly due to extreme weather events and aging infrastructure [12][13] - Management does not expect down years in sales, citing strong historical performance even during challenging times [19][20] Other Important Information - The company is transitioning its investor relations leadership, with Karen Bauer set to retire in spring 2025 [2] - The company has maintained a healthy balance sheet and cash flow generation profile, allowing for continued investment in growth [14] Q&A Session Summary Question: Outlook for 2025 sales growth - Management indicated that while growth may moderate, they do not expect a down year, citing strong macro drivers in the industry [16][19] Question: Drivers of margin improvement - Management confirmed that margin improvement was driven by unit volume increases, pricing, and product mix [18] Question: Impact of hurricanes on business - Management acknowledged potential delays in projects due to hurricanes but emphasized that they do not expect cancellations [20][22] Question: Backlog normalization - Management stated that the backlog remains positive, with no significant changes noted in the current quarter [24] Question: SaaS revenue growth drivers - The majority of SaaS revenue growth is attributed to a 100% attachment rate to hardware sales, with additional contributions from new services [25][26] Question: International market opportunities - Management highlighted growth in international markets, particularly through acquisitions that have established customer relationships [38][39]

Badger Meter delivered impressive but less-than-perfect Q3 results, sending its shares down today. Shares of leading water solutions provider Badger Meter (BMI -9.46%) plunged 9% as of 12:30 p.m. ET Thursday, according to data provided by S&P Global Market Intelligence. This drop comes in spite of the "smart water" industry specialist announcing sales, earnings-per-share, and cash from operations growth of 12%, 23%, and 43% on its third-quarter earnings call this morning. Despite these otherwise impressive ...

Company Performance - Badger Meter reported quarterly earnings of $1.08 per share, exceeding the Zacks Consensus Estimate of $1.02 per share, and up from $0.88 per share a year ago, representing an earnings surprise of 5.88% [1] - The company posted revenues of $208.44 million for the quarter ended September 2024, slightly missing the Zacks Consensus Estimate by 0.28%, compared to $186.19 million in the same quarter last year [1] - Over the last four quarters, Badger Meter has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [1] Stock Performance - Badger Meter shares have increased approximately 42.4% since the beginning of the year, outperforming the S&P 500's gain of 22.5% [2] - The current consensus EPS estimate for the upcoming quarter is $0.97 on revenues of $200.25 million, and for the current fiscal year, it is $4.10 on revenues of $822.42 million [4] Industry Outlook - The Instruments - Control industry, to which Badger Meter belongs, is currently ranked in the top 27% of over 250 Zacks industries, indicating a favorable outlook [5] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Badger Meter's stock performance [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 _______________________ Date of Report (Date of earliest event reported) October 17, 2024 Badger Meter, Inc. (Exact name of registrant as specified in its charter) | --- | --- | |---------------------|-------| | | | | | | | | | | | | | | | | | | | Wisconsin | | | (State or other | | | | | | jurisdiction | | | incorporat ...

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Badger Meter, Inc. (BMI) is slated to release its third-quarter 2024 earnings report, before market open on Oct. 17. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. The Zacks Consensus Estimate for revenues is pegged at $209.01 million, which implies growth of 12.3% from the year-ago reported number. The consensus mark for earnings is pegged at $1.02 per share, indicating a yearover-year increase of 15.9%. In the past 60 days, analysts have increased their earnings estimates for th ...