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Winner, Winner: The Chicken McNugget Story
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Badger Meter
Badger Meter (BMI) investor relations material
Badger Meter Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary22 Oct, 2026
Executive summary
Q3 net sales were $235.938M versus $235.651M a year earlier; operating earnings rose to $47.742M from $46.084M, and diluted EPS increased to $1.24 from $1.19.
Base sales, excluding UDlive, declined 2% YoY but rose 5% sequentially as awarded utility projects ramped; management expects Base growth in Q4 and momentum into 2027.
Financial highlights
Q3 gross margin was 41.9% versus 40.7%; net earnings were $35.903M versus $35.077M.
Free cash flow was $40.3M versus $48.2M, with higher cash taxes contributing to the decline; cash from operations was $43.3M versus $51.3M.
Nine-month sales were $660.536M versus $695.957M; net earnings were $92.958M versus $108.059M, and diluted EPS was $3.19 versus $3.65.
Nine-month operating earnings were $122.290M versus $140.372M; operating margin was 18.5% versus 20.2%.
Outlook and guidance
Q4 Base sales are expected to grow sequentially and YoY despite five fewer operating days; management expects growth momentum into 2027.
FY 2026 organic sales are expected to decline low single digits; Q4 growth is expected to offset some earlier weakness.
The five-year framework targets high-single-digit sales growth, 10–15% EPS growth and free cash flow conversion above 100%.
Long-term gross margin range remains 39%–42%; pricing and sourcing actions address electronic-component and material cost pressures.
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Latest events from Badger Meter
- Record FY23 sales, margins, EPS, and cash flow; robust demand supports growth.BMI
Q4 2023 - Smart water solutions leader drives growth through innovation, M&A, and sustainability.BMIInvestor presentation
- Q2 2026 sales up sequentially, down year-over-year; EPS fell, outlook stable and liquidity strong.BMIQ2 2026
- Digital transformation and recurring SaaS drive robust growth and long-term value.BMIInvestor Day 2026
- Q1 2026 sales dipped 9% YoY, but strong cash flow, innovation, and sustainability drive growth.BMIInvestor presentation
- Q1 2026 sales fell 9%, but project pipeline and acquisitions support long-term growth.BMIQ1 2026
- Proxy covers director elections, executive pay, auditor ratification, and major ESG achievements.BMIProxy Filing
- Votes will be cast on directors, executive pay, and auditor ratification at the 2026 meeting.BMIProxy Filing
- Record sales, margin gains, and SmartCover deal fuel growth outlook despite near-term EPS dilution.BMIQ4 2024
Next Badger Meter earnings date
Q4 202627 Jan, 2027
Badger Meter
Next Badger Meter earnings date
Q4 202627 Jan, 2027
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Frequently asked questions
Badger Meter, Inc., together with its subsidiaries, manufactures and markets mechanical and electronic water measurement products and systems worldwide. The company provides badger utility products, including magnetic rotary positive displacement (MR/PD) meters, which are used to measure bulk potable water, as well as commercial and residential metering applications; Displacement meters, such as large-diameter MR/PD meters that measure bulk non-potable industrial water; and Positive displacement meters that offer precise measurement of irrigation, chemical management, petroleum distribution, lubricants, floor cleaning fluids, fuels, food processing ingredients, broths, decorative fountains and ponds.