BADGER METER INC — Form 8-K
Filed October 22, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 28/100
What the filing says
Badger Meter reported Q3 2026 net sales of $235.9M (essentially flat YoY vs. $235.7M in Q3 2025), with diluted EPS of $1.24 (+4% vs. $1.19). Operating earnings rose 4% to $47.7M; operating margins improved 60 basis points to 20.2%. The company raised its annual dividend rate 10% to $1.76/share (34th consecutive year of increases) and repurchased approximately $55M of shares in the quarter. Year-to-date nine-month sales declined to $660.5M from $696.0M, driven by uneven AMI project pacing; YTD EPS fell to $3.19 from $3.65. The UDlive acquisition (closed May 1, 2026 for $94.4M net cash outlay YTD) contributed $5.6M in Q3 sales but generated a $276K operating loss.
Why this rating
Flat quarterly sales and declining YTD results signal modest momentum despite margin gains. Shareholder returns ($55M buyback, 10% dividend) total ~$170M YTD but are routine. No major strategic shift or risk disclosed.
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