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Mar 31, 2023
Badger Meter Q1 2023 Earnings Report
Badger Meter reported record financial results due to strength in end markets and improved operating environment.
Key Takeaways
Badger Meter reported a record first quarter with a 20% increase in sales, driven by healthy demand for smart water solutions and strong execution. Operating profit margins expanded, and EPS increased by 35%.
Total sales increased by 20% year-over-year to $159.1 million.
Operating profit increased by 33% year-over-year, with operating profit margins expanding by 150 basis points to 15.7%.
Diluted earnings per share (EPS) increased 35% to $0.66, up from $0.49 in the comparable prior year quarter.
The company completed the acquisition of Syrinix, Ltd.
Forward Guidance
Badger Meter has confidence in its end markets, business model, and execution to deliver shareholder value. Demand trends remain healthy with positive order trends and record backlogs.
Positive Outlook
- Resilient end markets
- Flexible business model
- Proven execution playbook
- Expanding portfolio of smart water offerings
- Stellar balance sheet
Challenges Ahead
- General economic conditions
- Variation in demand from customers
- Market acceptance of new products
- Successful integration of acquisitions
- Competitive pricing and operating efficiencies
Historical Earnings Impact
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Avg. Return Before/After Earnings
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