Badger Meter reports Q1 EPS 93c, consensus $1.22

Reports Q1 revenue $202.3M, consensus $230.88M. “Entering 2026, we expected project pacing dynamics to favor the back half of the year,” said Kenneth Bockhorst, Chairman, President and CEO. “Our first quarter results were consistent with that expectation, reflecting comparisons to the prior-year period when several since completed projects were still in active deployment. Additionally, we experienced weaker than anticipated short-cycle order rates in the first quarter of 2026. In our view, the year-over-year decline in revenue and associated operating leverage are related to variability in project timing and short-cycle customer order patterns and do not reflect a change in underlying demand, our competitive position, or the long-term market drivers for our business. We have a strong pipeline of awarded projects scheduled to launch in the second half of 2026, and our broader multi-year opportunity funnel remains robust.”