Badger Meter Q2 Sales Dip 7%, UDlive Acquired for $94M, $63M in Stock Repurchased
BMI is trading near its 52-week low of $112.09 (9.8% above the low) on elevated volume (2.1× avg).
Summary
Badger Meter posted Q2 2026 sales down 7% YoY to $222.3M and EPS of $1.02, closed the UDlive acquisition for $94.4M, and repurchased $63.5M in stock, reducing cash to $95.7M.
Key Events · Earnings and Guidance · BMI
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Q2 Sales and Earnings Decline
Net sales fell 6.6% YoY to $222.3 million, with diluted EPS of $1.02, down 13% from $1.17 a year ago, driven by uneven AMI project pacing.
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UDlive Acquisition Closed
Acquired UDlive Limited for $94.4 million net of cash on May 1, 2026, with up to $50 million in earn-outs; added $2.0 million in revenue and $69.9 million in goodwill.
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Aggressive Share Repurchases
Repurchased $63.5 million of common stock in H1 2026 under a $150 million authorization, with $89.7 million remaining; treasury stock cost rose to $114.4 million.
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Cash Position Halved
Cash and equivalents dropped to $95.7 million from $226.0 million at year-end 2025, reflecting the UDlive acquisition and buybacks, partially offset by $60.6 million in operating cash flow.
Analysis · BMI · Industrial Applications And Services
Second-quarter sales at Badger Meter slipped 7% year-over-year to $222.3 million, while diluted EPS fell 13% to $1.02—though both figures edged past consensus. The company put $94.4 million in cash toward acquiring UDlive, a sewer-monitoring software firm that contributed $2 million in revenue during the partial quarter. Aggressive buybacks consumed $63.5 million in the first half, helping drive cash reserves down sharply from $226 million to $95.7 million. Taken together, the acquisition, heavy repurchases, and a newly extended credit facility suggest management is leveraging the balance sheet to navigate softer demand while betting on digital water solutions.
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In the 30 days to Sep 30, 2026, 29.6% of the 1615 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, BMI was trading at $123.12 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $112.09 to $206.29. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.