Badger Meter Q3 EPS $1.24, Sales Flat at $235.9M, Dividend Raised 10%
BMI sits 18% above its 52-week low of $112.09 on elevated volume (2.0× avg).
Summary
Badger Meter reported flat Q3 sales of $235.9M but 4% EPS growth to $1.24 on stronger margins, raised its dividend 10% to $1.76 annually, and repurchased about $55 million of stock.
Key Events · Earnings and Guidance · BMI
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Q3 Sales Flat, EPS Up 4%
Net sales of $235.9M versus $235.7M a year ago; diluted EPS of $1.24 versus $1.19, with operating earnings up 4% to $47.7M.
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Margins Improve on Mix
Gross margin rose to 41.9% from 40.7% and operating margin to 20.2% from 19.6%, helped by structural mix and lower base SEA expenses.
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Dividend Raised 10%
Annual dividend rate increased to $1.76 per share, the 34th consecutive year of dividend growth.
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Buyback and Cash Position
About $55 million of shares repurchased in the quarter; cash fell to $67.9M from $226.0M at year-end after $94.4M for UDlive and $119.0M of year-to-date repurchases.
Analysis · BMI · Industrial Applications And Services
Sales were essentially flat year-over-year at $235.9M, but margins improved and EPS rose 4% to $1.24, so the quarter is a modest beat on profitability rather than growth. The bigger news for holders is capital return: the annual dividend goes up 10% to $1.76 per share, the 34th straight year of increases, and the company bought back about $55 million of stock in the quarter. Management guided to sequential and year-over-year Base revenue improvement in Q4 and into 2027, which is the claim that will be tested against the uneven AMI project pacing that has dragged utility water sales down 3% excluding UDlive.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 29.4% of the 1539 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.45%. 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 $131.86 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $3.8B. The 52-week trading range was $112.09 to $204.00. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.