Badger Meter (NYSE:BMI) Announces Earnings Results

Badger Meter (NYSE:BMI) issued its quarterly earnings results on Wednesday. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01), Briefing.com reports. Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.The firm had revenue of $220.71 million for the quarter, compared to the consensus estimate of $232.30 million. During the same period last year, the company posted $1.04 EPS. The business’s revenue was up 7.6% on a year-over-year basis.

Here are the key takeaways from Badger Meter’s conference call:

• Delivered a strong 2025: 11% sales growth surpassing $900M, operating margin expanded to ~20%, EPS up 10%, record quarterly free cash flow of $50.8M, and a clean balance sheet with >$225M cash supporting dividends and opportunistic buybacks.
• Successfully integrated SmartCover ( ~$40M in 2025), improving profitability and moving manufacturing to Racine; software revenue now >$74M (8% of sales) with software growing at a ~28% CAGR and SmartCover expected to be earnings-accretive in 2026.
• Awarded the large Puerto Rico AMI contract (~1.6 million service connections) on a supply-only basis with multiyear deployment expected; management will not quantify near-term 2026 revenue from this program due to many timing variables.
• Management emphasized ongoing “project pacing” volatility that drove a sequential sales decline in 4Q and expects a lower-growth H1 2026 followed by stronger H2, highlighting lumpy quarter-to-quarter results despite multi-year organic growth confidence.
• Gross-margin risks remain heading into 2026 from fluid tariff/trade conditions and elevated copper/ingot costs despite reaching price parity on 2025 tariffs; company guides a normalized gross-margin range of 39%–42% and will use routine price mitigation actions.

Badger Meter Stock Performance

NYSE:BMI traded up $2.00 during trading on Friday, reaching $146.42. The company’s stock had a trading volume of 75,804 shares, compared to its average volume of 389,517. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 2.22 and a beta of 0.91. Badger Meter has a 12 month low of $139.14 and a 12 month high of $256.08. The firm has a 50 day moving average of $175.38 and a 200-day moving average of $182.60.

Badger Meter Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $1.60 annualized dividend and a yield of 1.1%. Badger Meter’s payout ratio is currently 33.33%.

Trending Headlines about Badger Meter

Here are the key news stories impacting Badger Meter this week:

• Positive Sentiment: Institutional accumulation: Large institutional buying since the late-2025 sell-off is cited as a foundation for a rebound, supporting the thesis that upside could follow if fundamentals hold. Why Institutions Keep Buying Badger Meter After the Big Drop
• Positive Sentiment: Contract win in Puerto Rico: A new smart-water SaaS-related win highlights commercial traction in utilities and supports recurring revenue / long-term growth narratives. Badger Meter Puerto Rico Win Highlights Smart Water SaaS And Valuation Debate
• Neutral Sentiment: Options activity signaling volatility: Unusual options flows have drawn attention — the market may be pricing in larger near-term moves (up or down), increasing short-term trading risk and possible gamma-driven volatility. Is the Options Market Predicting a Spike in Badger Meter Stock?
• Neutral Sentiment: Quarterly results and materials available: The earnings presentation and call transcript provide detail: record 2025 sales, margin expansion, and guidance items that matter for longer-term modeling but contain mixed signals vs. street expectations. Use the call slides/transcript to reset forecasts. Q4 Results – Earnings Call Presentation
• Negative Sentiment: Earnings and revenue misses: Q4 EPS slightly missed and revenue missed consensus (revenues up 7.6% but below estimates), which triggered an initial sell-off and remains a headline risk for sentiment and near-term price performance. Badger Meter’s Q4 Earnings & Revenue Miss Estimates, Stock Down
• Negative Sentiment: Analyst price-target cuts: Jefferies and JPMorgan trimmed targets (to $200 and $190, respectively) while keeping bullish ratings; lower targets reduce near-term upside expectations and can constrain momentum until results re-accelerate. Analyst Coverage Update (Benzinga) JPMorgan Target Cut Report

Hedge Funds Weigh In On Badger Meter

Institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Bancorp USA Inc. bought a new stake in shares of Badger Meter in the third quarter valued at $565,000. Danske Bank A S bought a new stake in Badger Meter in the 3rd quarter valued at about $967,000. Oberweis Asset Management Inc. lifted its holdings in Badger Meter by 21.2% during the third quarter. Oberweis Asset Management Inc. now owns 72,610 shares of the scientific and technical instruments company’s stock valued at $12,967,000 after purchasing an additional 12,700 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Badger Meter by 1.2% during the third quarter. CANADA LIFE ASSURANCE Co now owns 37,210 shares of the scientific and technical instruments company’s stock worth $6,582,000 after purchasing an additional 439 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in shares of Badger Meter in the third quarter valued at approximately $1,245,000. 89.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Robert W. Baird set a $165.00 target price on Badger Meter in a research report on Thursday. Royal Bank Of Canada restated an “outperform” rating and set a $191.00 price objective (down from $229.00) on shares of Badger Meter in a research report on Thursday. Jefferies Financial Group lowered their price target on shares of Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus set a $166.00 target price on Badger Meter and gave the company a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price objective on Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $188.89.

About Badger Meter

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.