Badger Meter Inc (NYSE:BMI), a water technology company, saw its shares fall on Friday after reporting weaker first-quarter results, with revenue and earnings declining due to project timing and softer municipal demand.
Q1 Results And Demand Trends
Sales dropped 9% to $202.3 million, missing estimates, while diluted EPS fell to 93 cents from $1.30, also below expectations.
Operating earnings declined to $35.2 million, with margins contracting to 17.4% from 22.2% a year ago. Utility water sales fell 10%, and flow instrumentation sales declined 4%, reflecting weaker short-cycle ordering.
Badger Meter reported cash and cash equivalents of $205.45 million at quarter-end, with operating cash flow of $33.89 million.
The company said the performance was impacted by project timing variability rather than underlying demand, pointing to a strong pipeline of awarded projects expected to ramp in the second half of 2026.
UDlive Acquisition Expands Capabilities
Seperately, Badger Meter also announced an agreement to acquire UK-based UDlive for $100 million plus contingent consideration, with closing expected by the end of April.
The deal will …