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Sep 30, 2023
Badger Meter Q3 2023 Earnings Report
Badger Meter reported record earnings driven by strong sales growth and improved operating margins.
Key Takeaways
Badger Meter reported record third-quarter results with a 26% increase in sales and a 44% increase in diluted earnings per share. The company benefited from strong demand for its smart water solutions and improved supply chain conditions.
Total sales increased by 26% year-over-year to $186.2 million.
Operating profit increased by 31% year-over-year, with operating profit margins expanding to 16.9%.
Diluted earnings per share (EPS) increased by 44% to $0.88.
Net cash provided by operations increased 32% over the prior year to $31 million.
Forward Guidance
Badger Meter anticipates strong sales and operating performance, with sequentially fewer total operating days due to holidays in the fourth quarter. They expect to capitalize on the strength of end markets and maintain focus on execution.
Positive Outlook
- Healthy market conditions
- Business momentum
- Resilient order pace
- Robust bid funnel
- Strong customer support
Challenges Ahead
- Sequentially fewer total operating days due to holidays in the fourth quarter.
- General economic conditions
- Variation in demand from customers
- Continued market acceptance of new products
- Competitive pricing and operating efficiencies
Historical Earnings Impact
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Avg. Return Before/After Earnings
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