The earnings call highlighted strong sales growth and successful integration of SmartCover, along with improved cash flow and gross margins. However, it also noted challenges such as declining operating margins, expected sequential sales decline, and rising SEA expenses due to acquisitions and personnel costs. The company faces macroeconomic uncertainties, particularly related to tariffs.

Company Guidance -

Q3 2025

During the second quarter of 2025, Badger Meter reported a 10% year-over-year sales increase, reaching $238 million, or 5% growth excluding the SmartCover acquisition. Operating earnings rose by 8% to $44.9 million, although operating margins slightly decreased by 40 basis points to 18.8%. Gross margins improved by 170 basis points to 41.1% from 39.4% in the previous year, driven by technology adoption and operational excellence initiatives. The income tax provision was 24.5%, up from the prior year's 23.8%, and consolidated EPS increased to $1.17 from $1.12. Free cash flow surged by 19% to $40.6 million. Despite ongoing macroeconomic uncertainties, the company maintains a positive outlook, supported by strong customer demand, technology adoption, and strategic investments, including the integration of SmartCover, which contributed over $10 million in sales. The company anticipates sequential sales decline in Q3 2025 due to project timing but expects continued year-over-year growth.

Record Sales Growth

Total sales reached $238 million in Q2 2025, representing a 10% year-over-year increase, or 5% excluding the SmartCover acquisition.

Strong Free Cash Flow

Free cash flow increased 19% year-over-year to $40.6 million, attributed to higher earnings and working capital improvements.

Gross Margin Expansion

Gross margins expanded 170 basis points to 41.1% from 39.4% in the previous year, despite trade-related cost pressures.

SmartCover Integration Progress

The integration of SmartCover is on track with anticipated sales and cost synergies being realized.

BlueEdge Momentum

The BlueEdge portfolio is gaining traction with new solutions like the Field App and Cobalt, enhancing customer engagement and positioning.

Badger Meter (BMI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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BMI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 16, 2025	2025 (Q3)	1.15 / -	1.08	―	―	―
Jul 22, 2025	2025 (Q2)	1.25 / 1.17	1.12	4.46% (+0.05)
Apr 17, 2025	2025 (Q1)	1.07 / 1.30	0.99	31.31% (+0.31)
Jan 31, 2025	2024 (Q4)	1.10 / 1.04	0.84	23.81% (+0.20)
Oct 17, 2024	2024 (Q3)	1.11 / 1.08	0.88	22.73% (+0.20)
Jul 19, 2024	2024 (Q2)	1.03 / 1.12	0.76	47.37% (+0.36)
Apr 18, 2024	2024 (Q1)	0.82 / 0.99	0.66	50.00% (+0.33)
Jan 26, 2024	2023 (Q4)	0.82 / 0.84	0.6	40.00% (+0.24)
Oct 19, 2023	2023 (Q3)	0.81 / 0.88	0.61	44.26% (+0.27)
Jul 20, 2023	2023 (Q2)	0.65 / 0.76	0.57	33.33% (+0.19)

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
Jul 22, 2025	$245.22	$204.80	-16.48%
Apr 17, 2025	$183.64	$201.35	+9.64%
Jan 31, 2025	$207.95	$213.26	+2.55%
Oct 17, 2024	$218.76	$205.01	-6.29%

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.