Badger Meter reported second-quarter 2026 results with net sales of $222.3 million and diluted earnings per share of $1.02 for the quarter ended June 30, 2026. Operating earnings were $39.4 million and net earnings were $29.7 million. The company completed the acquisition of UDlive effective May 1, 2026 and reported base (non-GAAP) results excluding UDlive.

Financial Highlights

  • Revenue: Net sales of $222.3 million for the three months ended June 30, 2026 (down from $238.1 million in Q2 2025).
  • Gross profit and margin: Gross margin of $90.8 million, representing 40.8% of sales.
  • Operating income: Operating earnings of $39.4 million for the quarter (operating margin 17.7%).
  • Net income: Net earnings of $29.7 million for the quarter; provision for income taxes was $10.0 million.
  • Adjusted (Base) metrics: Base operating earnings of $40.6 million and Base operating margin of 18.4%; diluted EPS of $1.02 (GAAP) for the quarter.

Business Highlights

  • Acquisition: Completed acquisition of UDlive effective May 1, 2026, extending sewer line monitoring leadership and global capabilities; UDlive results included for two months in the quarter.
  • Utility water segment: Utility water sales declined year-over-year, reflecting uneven phasing of AMI project deployments; sequential sales improved versus Q1 2026 as awarded projects began initial deployments.
  • Product mix and momentum: Increased sales in flow instrumentation and higher sales of software and BlueEdge beyond-the-meter solutions contributed to performance despite AMI timing headwinds.
  • Cost management and integration: Initiated cost containment actions and tight spending controls that reduced Base SEA expenses year-over-year and supported sequential operating leverage; initial integration activities for UDlive underway with early commercial interest reported.
  • Capital and liquidity: Renewed an undrawn $150 million credit facility (including accordion) and highlighted solid cash flow and credit availability to support investments, shareholder returns and acquisitions.

Original SEC Filing:

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