Badger Meter Reports Third Quarter 2026 Financial Results
Badger Meter reported Q3 2026 sales of $235.9 million, essentially flat versus $235.7 million a year ago but up 6% sequentially, with diluted EPS of $1.24 up 4% from $1.19. Margins expanded, with gross margin up 120 basis points to 41.9% and operating margin improving to 20.2%. Excluding the UDlive acquisition, utility water sales declined 3% year-over-year on uneven AMI project pacing. The company raised its annual dividend 10% to $1.76 per share — its 34th consecutive annual increase — and repurchased roughly $55 million of stock in the quarter.
Key figures
- Eps
- 1.24
- Revenue
- 235938000
- Guidance
- Q4: sequential and year-over-year Base revenue improvement expected, with growth momentum sustained into 2027
- Revenue Yoy
- ~flat (+0.1%)
- Base sales
- 230299000
- Q3 buybacks
- 55547000
- Gross margin
- 41.9%
- Ytd buybacks
- 119014000
- Operating income
- 47742000
- Operating margin
- 20.2%
- Dividend increase
- 10% to $1.76/share annualized (34th consecutive year of growth)
- Effective tax rate
- 25.1%
- Nine month revenue
- 660536000
- Q3 operating cash flow
- 43274000
- Base operating earnings
- 48018000
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