Core Insights - Select Water Solutions and Mariana Minerals have announced the groundbreaking of a lithium extraction facility in Joaquin, Texas, which will convert produced water into lithium salts, supporting domestic energy and critical minerals supply chains [1][2][3] Company Overview - Select Water Solutions is a leading provider of sustainable water and chemical solutions to the energy industry, emphasizing safe and environmentally responsible water management [5] - Mariana Minerals focuses on supplying critical minerals for modern energy and technology, utilizing advanced AI and machine learning to enhance mineral project development [6] Project Details - The lithium facility is designed to produce up to 3,000 metric tons per year of high-purity lithium salts by utilizing oil and gas waste streams [2] - The facility will leverage Select's existing water treatment infrastructure, which has been operational for over a decade, allowing for efficient sourcing and management of produced water [2][3] - Site preparation began in July 2025, with construction expected to continue through December 2026, and commercial production targeted for the first half of 2027 [3] Financial Implications - The project is anticipated to generate up to $5 million in annual cash flow for Select Water Solutions, enhancing the value of its existing infrastructure [3] - The collaboration aims to maximize returns from Select's infrastructure by adding high-margin revenue streams [4]

Core Viewpoint - Global Water Resources, Inc. will hold a conference call on November 13, 2025, to discuss its third-quarter financial results for the period ending September 30, 2025 [1] Company Overview - Global Water Resources, Inc. is a leading water resource management company that operates 39 systems providing water, wastewater, and recycled water services, primarily in growth corridors around metropolitan Phoenix and Tucson [3] - The company recycles over 1 billion gallons of water annually, totaling 18.5 billion gallons recycled since 2004 [3] Total Water Management (TWM) - The company has effectively implemented Total Water Management (TWM), an integrated approach to managing the entire water cycle, which maximizes the beneficial use of recycled water [4] - TWM enables smart water management programs, including remote metering infrastructure and advanced technologies, leading to real conservation and protection of water supplies in water-scarce areas [4] Industry Recognition - Global Water has received numerous awards, including national recognition as a 'Utility of the Future Today' for its superior water reuse practices [5] - The company also received the Cityworks' Excellence in Departmental Practice Award for demonstrating leadership in public asset management strategies [5]

The UK plans to make it easier to fine water companies that harm the environment, ramping up pressure on firms blamed for chronic sewage spills https://t.co/LFPllsM6bj ...

Core Viewpoint - Essential Utilities (WTRG) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, suggesting that revisions in earnings estimates can lead to significant price changes [4][6]. - Rising earnings estimates for Essential Utilities imply an improvement in the company's underlying business, which could lead to higher stock prices as investors respond positively [5][10]. Zacks Rating System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks which have averaged a +25% annual return since 1988 [7]. - The upgrade of Essential Utilities to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [9][10]. Earnings Estimate Revisions - For the fiscal year ending December 2025, Essential Utilities is expected to earn $2.10 per share, with a slight increase of 0.2% in the Zacks Consensus Estimate over the past three months [8].

Financial Data and Key Metrics Changes - Total sales for Q3 2025 reached $236 million, reflecting a 13% year-over-year increase, with Base sales growth at 8% [5][6] - Operating earnings increased by 13% year-over-year to $46.1 million, with operating margins slightly up to 19.6% from 19.5% [6][8] - Consolidated EPS rose to $1.19, a 10% increase compared to $1.08 in the prior year quarter [8][9] - Record free cash flow of $48.2 million increased by approximately $6 million year-over-year, primarily due to lower cash taxes [9] Business Line Data and Key Metrics Changes - Utility water product line sales increased by 14% year-over-year, or 8% excluding SmartCover, driven by higher ultrasonic meter unit volumes and increased BEACON SaaS sales [5][6] - Flow instrumentation product line sales grew by 4% year-over-year, supported by strength in water-related markets [6] Market Data and Key Metrics Changes - The company noted a steady demand for its cellular AMI solution and BlueEdge suite, supported by macroeconomic drivers encouraging technology adoption across the water cycle [3][10] - The trade environment remains fluid, but the company has effectively managed tariff and trade-related cost pressures [3][7] Company Strategy and Development Direction - The company is focused on long-term growth through its BlueEdge solutions, which are modular and allow customers to adopt technologies at their own pace [10][11] - The company is well-positioned to capitalize on long-term trends in the water industry, with a strong cash flow generation capability and a net cash position of approximately $200 million [14] - The company continues to prioritize organic growth, increasing dividends for the 33rd consecutive year, and pursuing strategic acquisitions [14][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business despite macroeconomic uncertainties, highlighting ongoing customer enthusiasm for technology adoption [12][13] - The company anticipates a solid close to the year, despite typical seasonal impacts in Q4 due to fewer operating days [12][22] - Management expects to achieve high single-digit average top-line growth over the next five years [12][49] Other Important Information - The company has successfully transitioned certain manufacturing operations to its facility in Racine, Wisconsin, as part of the SmartCover acquisition integration [14] - The company is optimistic about the growth potential of SmartCover, which has shown 25% growth in the quarter [29][30] Q&A Session Summary Question: Insights on gross profit margin expectations - Management indicated that the lack of new tariff news and continued strong performance has led to confidence in raising the gross margin range to 39%-42% [17][19] Question: Project timing and customer decision-making - Management clarified that while Q3 may not show sequential growth over Q2, it does not indicate a decline in business, and customers are still moving forward with projects [20][22] Question: SmartCover growth and profitability - Management remains excited about SmartCover's growth potential, expecting it to become EPS accretive in year two post-acquisition [29][33] Question: Pricing strategies amid tariff impacts - Management noted targeted product-specific price increases to mitigate tariff-related costs, with expectations for price realization to catch up to costs [37][39] Question: Water quality performance and customer needs - Management expressed strong traction in water quality offerings and confidence in their current parameters, with no immediate gaps identified [41][42] Question: 2026 growth outlook and capital allocation - Management refrained from providing specific guidance for 2026 but expressed confidence in achieving high single-digit growth over the cycle [46][49] Question: Federal stimulus impact on metering - Management indicated that very little federal stimulus money has been directed toward metering, with macro drivers remaining the primary focus for utilities [53][55]

Financial Data and Key Metrics Changes - Total sales for Q3 2025 reached $236 million, marking a 13% year-over-year increase, with BASE sales growth at 8% [5][6] - Operating earnings rose 13% year-over-year to $46.1 million, with operating margins slightly up to 19.6% from 19.5% [6][8] - Consolidated EPS increased to $1.19 from $1.08 in the prior year, representing a 10% year-over-year growth [8][9] - Record free cash flow of $48.2 million, up approximately $6 million year-over-year, primarily due to lower cash taxes [9] Business Line Data and Key Metrics Changes - Utility water product line sales increased by 14% year-over-year, or 8% excluding SmartCover, driven by higher ultrasonic meter volumes and increased Beacon SaaS sales [5][6] - Flow instrumentation product line sales grew by 4% year-over-year, supported by strength in water-related markets [6] Market Data and Key Metrics Changes - The company noted a steady demand for its cellular AMI solution and BlueEdge suite, supported by macroeconomic drivers encouraging technology adoption across the water cycle [3][10] - The trade environment remains fluid, but the company has effectively managed tariff and trade-related cost pressures [3][7] Company Strategy and Development Direction - The company is focused on long-term growth through its BlueEdge solutions, which are modular and allow customers to adopt technologies at their own pace [10][11] - The company is well-positioned to capitalize on long-term trends in the water industry, with a strong cash flow generation capability and a net cash position of approximately $200 million [14] - The company plans to continue investing in both organic growth and potential acquisitions, while also returning cash to shareholders through increased dividends [14][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business despite macroeconomic uncertainties, citing ongoing demand for critical utility water infrastructure [12][13] - The company anticipates a high single-digit average top-line growth rate over the next five years, despite the inherent unevenness in project timing [12][48] Other Important Information - The company has successfully transitioned certain manufacturing operations to its facility in Racine, Wisconsin, as part of the SmartCover acquisition integration [14] - The company has raised its gross margin range from 39% to 42% on a normalized basis, reflecting ongoing structural mix improvements [7][62] Q&A Session Summary Question: Insights on gross profit margin expectations - Management indicated that the lack of new tariff news and continued strong performance gave them confidence to raise the gross margin range [18][19] Question: Project timing and customer decision-making - Management clarified that they do not expect a decline in business but noted the typical seasonal impacts in Q4 due to fewer operating days [22][24] Question: Growth expectations for SmartCover - Management remains excited about SmartCover's integration and growth potential, with expectations of continued strong performance [29][30] Question: Pricing and tariff impacts - Management discussed targeted price increases to mitigate tariff impacts, with expectations of reaching parity between price and cost moving forward [38][39] Question: Water quality performance and customer needs - Management expressed strong traction in water quality offerings and confidence in their current parameters, with no immediate gaps identified [41][42] Question: 2026 growth outlook - Management refrained from providing specific guidance for 2026 but expressed confidence in achieving high single-digit growth over the cycle [47][49] Question: Federal funding impact on metering - Management noted that very little federal funding has gone toward metering, with macro drivers remaining the primary focus for utilities [53][54]

Financial Data and Key Metrics Changes - Total sales reached $236 million in Q3 2025, representing a 13% year-over-year increase or 8% base sales growth, with a sequential decline from Q2 [6][11] - Operating earnings increased by 13% year-over-year to $46.1 million, with operating margins slightly up to 19.6% from 19.5% [7] - Consolidated EPS was $1.19, a 10% increase from $1.08 in the prior year quarter [10] - Record free cash flow of $48.2 million increased by approximately $6 million year-over-year [11] Business Line Data and Key Metrics Changes - Utility water product line sales increased by 14% year-over-year, or 8% excluding SmartCover [6] - Flow instrumentation product line sales increased by 4% year-over-year, driven by strength in water-related markets [7] - Base operating earnings, excluding SmartCover, increased by 15% year-over-year to $46.6 million [7] Market Data and Key Metrics Changes - Gross margins expanded to 40.7% from 40.2% in the prior year quarter, benefiting from structural mix improvement and price increases [8] - The company increased its gross margin range from a historical 38%-40% to a new normalized range of 39%-42% [8] Company Strategy and Development Direction - The company is focused on the long-term growth of its BlueEdge suite of modular smart water management solutions, which is expected to drive future growth [12][14] - The company plans to continue investing in both organic and inorganic growth, with a net cash position of approximately $200 million [16] - The company remains committed to returning cash to shareholders, having increased its dividend for the thirty-third consecutive year [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business amidst macroeconomic and trade uncertainties, citing strong demand for their products [15] - The company anticipates healthy levels of activity across its opportunity pipeline and expects an average top-line growth rate of high single digits over the next five years [14] - Management noted that federal funding noise has not significantly impacted customer decision-making, as utilities continue to prioritize technology adoption [26] Other Important Information - The company is successfully integrating SmartCover into its operations, with reported growth of approximately 25% in the quarter [31] - The company is optimistic about the growth potential of SmartCover, which is expected to become EPS accretive in year two post-acquisition [35] Q&A Session Summary Question: Increase in expected gross profit margin - Management indicated that the increase in gross profit margin was due to a lack of new tariff news and confidence in structural mix benefits [20][21] Question: Project timing and customer decision-making - Management clarified that they did not signal a decline in business but noted the inherent unevenness in project timing [23][24] Question: Smart Cover growth expectations - Management remains excited about Smart Cover's growth potential, which is expected to continue at an outsized level [31] Question: Pricing and tariff impacts - Management discussed targeted product-specific price increases to mitigate tariff impacts, with expectations for price realization to catch up to cost effects [39][40] Question: Water quality performance - Management expressed strong traction in water quality offerings and confidence in their parameter capabilities [42][44] Question: Outlook for 2026 - Management refrained from providing specific guidance for 2026 but expressed confidence in achieving high single-digit growth over the cycle [49][51] Question: Capital allocation and buybacks - Management reiterated their capital allocation priorities, emphasizing organic growth and dividends, while not ruling out buybacks [52][53] Question: Federal stimulus impact - Management noted that very little federal stimulus money has gone toward metering, with macro drivers remaining the same [56] Question: Comparison to 2011 period - Management highlighted significant technological advancements since 2011, making past comparisons less relevant [59]

Core Insights - The company reported a 13% year-over-year increase in operating earnings to $46.1 million, with operating margins slightly improving to 19.6% from 19.5% [1] - Excluding the Smart Cover acquisition, base operating earnings rose 15% year-over-year to $46.6 million, and base operating margins expanded by 120 basis points [1] - Total sales for 2025 reached $236 million, reflecting a 13% year-over-year increase, with base sales growth of 8% [2] - The company is increasing its gross margin range from a historical 38%-40% to a new normalized range of 39%-42% due to ongoing structural mix improvements and price increases [1][4] Financial Performance - Gross margins improved by 50 basis points to 40.7% from 40.2% in the prior year quarter, benefiting from structural mix improvements and price increases [1] - Record free cash flow of $48.2 million increased by approximately $6 million year-over-year, largely due to lower cash taxes [7] - Consolidated EPS rose to $1.19, a 10% increase from $1.08 in the prior year quarter [6] Sales and Market Trends - Utility water product line sales increased by 14% year-over-year, or 8% excluding SmartCover, driven by higher ultrasonic meter volumes and increased BEACON Software as a Service sales [2] - The company continues to see healthy activity levels across its pipeline, with expectations of high single-digit average top-line growth over the next five years [12] Strategic Initiatives - The integration of Smart Cover is progressing well, with the company expecting to deliver anticipated cost and sales synergies [14] - The company remains focused on investing in organic growth and maintaining its R&D leadership in the industry [43] Customer Engagement and Market Outlook - Customer feedback from recent trade shows indicates strong interest in the company's BlueEdge suite of solutions, which are seen as critical for utility water infrastructure [8][11] - Despite macroeconomic uncertainties, utility customers are planning for long-term technology adoption to enhance efficiency and resiliency [11][13]

Forward Looking Statements Certain statements contained in this presentation as well as other information provided from time to time by Badger Meter, Inc. (the "Company") or its employees, may contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those statements. The words "anticipate," "believe," "estimate," "expect," "think," "should," "could" and "objective" or similar expressions are intended to identify forward looking stateme ...

Q3 2025 Performance Highlights - Sales increased by 3% year-over-year, reaching $1022 million in Q3 2025 compared to $993 million in Q3 2024[18] - Adjusted Operating Income rose by 10% year-over-year, from $239 million in Q3 2024 to $263 million in Q3 2025[18] - Adjusted EPS increased by 14% year-over-year[18] - ROS expanded by 160 bps, reaching 257% in Q3 2025 from 241% in Q3 2024[18] Segment Performance - Flow segment sales increased by 6% year-over-year, reaching $394 million in Q3 2025 compared to $372 million in Q3 2024[33] - Water Solutions segment sales decreased by 6% year-over-year, reaching $273 million in Q3 2025 compared to $290 million in Q3 2024, inclusive of portfolio exits[41, 43] - Pool segment sales increased by 7% year-over-year, reaching $354 million in Q3 2025 compared to $331 million in Q3 2024[50] Financial Position and Outlook - Increased FY'25 Sales guidance to up approximately 2%, projecting sales of $4160 million to $4170 million[20, 63] - Increased Adjusted EPS guidance to $485 to $490, up approximately 12% to 13%[20, 63] - The company acquired Hydra-Stop on September 17th for $292 million, expecting approximately $50 million of tax benefits[19]