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Badger Meter (BMI)
NYSE:BMI
Earnings Data
Report Date
Apr 16, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.23Last Year’s EPS
1.3Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong multi-year growth, record revenue, margin expansion, robust free cash flow, successful integration of SmartCover, and a significant AMI win (PRASA). Near-term variability tied to project pacing, timing uncertainty for large deployments, tariff/commodity cost pressures (notably copper and Bi-alloy inputs), and acquisition-related expense increases were noted as challenges. Management reiterated confidence in a high-single-digit organic growth outlook over a 5-year horizon while acknowledging quarter-to-quarter unevenness.Company Guidance
Record Full-Year Revenue and Strong Top-Line Growth
2025 revenue surpassed $900 million, representing 11% year-over-year sales growth and a 17% compounded annual growth rate over the past 5 years.
Solid Q4 Sales Performance
Fourth quarter sales of $221 million, up 8% year-over-year (2% base growth excluding SmartCover). Utility water product line sales increased 9% year-over-year (2% excluding SmartCover).
Margin Expansion and Profitability Improvement
Operating profit margins expanded to 20.0% for 2025 (up 90 basis points year-over-year). Fourth quarter operating margins rose to 19.5% (up 40 bps YoY) and base operating margins expanded to 20.5% (up 140 bps YoY). Gross margin in Q4 improved to 42.1%, up 180 bps year-over-year.
Earnings and Cash Generation
Consolidated EPS in Q4 was $1.14 versus $1.04 prior year (+10% YoY). Record quarterly free cash flow of $50.8 million (approximately $3.4 million increase YoY). Free cash flow conversion remained in excess of 100% of net earnings for the year.
Software Revenue Growth and Recurring Revenue Mix
Software revenue (including SmartCover) exceeded $74 million and now represents 8% of sales. Software grew at a 28% CAGR over the past 5 years, increasing recurring revenue exposure.
Successful SmartCover Integration
SmartCover delivered approximately $40 million of sales in 2025 (25% on an annualized basis), improved profitability through higher volumes and cost management, manufacturing transferred to Racine, and management expects earnings accretion in 2026.
Major AMI Contract Win (PRASA)
Awarded the Puerto Rico Aqueduct and Sewer Authority AMI project covering ~1.6 million service connections (one of the largest global deployments). Badger Meter will be supply-only (meters, ORION Cellular AMI radios, BEACON SaaS) with production in Racine; expected multi-year deployment beginning 2026 with more meaningful revenue in H2 2026.
Strong Balance Sheet and Capital Allocation
Cash on hand in excess of $225 million, opportunistic $15 million share repurchase in Q4, 33rd consecutive annual dividend increase, and continued focus on M&A and reinvestment.
BMI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BMI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 28, 2026 | $164.41 | $146.32 | -11.00% |
Oct 21, 2025 | $186.96 | $176.93 | -5.36% |
Jul 22, 2025 | $244.10 | $203.87 | -16.48% |
Apr 17, 2025 | $182.81 | $200.43 | +9.64% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Badger Meter (BMI) report earnings?
Badger Meter (BMI) is schdueled to report earning on Apr 16, 2026, After Close (Confirmed).
What is Badger Meter (BMI) earnings time?
Badger Meter (BMI) earnings time is at Apr 16, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BMI EPS forecast?
BMI EPS forecast for the fiscal quarter 2026 (Q1) is 1.23.
