Slide 1: Third Quarter 2022 Earnings
BADGER METER THIRD QUARTER 2022 EARNINGS October 19, 2022 © 2022 Badger Meter, Inc. 1
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS Certain statements contained in this presentation as well as other information provided from time to time by Badger Meter, Inc. (the “company”) or its employees, may contain forward-looking statements that involve risks and uncertainties that could cause actual results to
Slide 3: Third Quarter 2022 Highlights
THIRD QUARTER 2022 HIGHLIGHTS Y-O-Y Sales Growth Trend (ex acquisitions in Q4 2021) 15.0% 13.4% 12.4% 12.2% • Strong order pace/momentum continued • Record sales in third quarter of $148.0 million, up 15% year-over-year (nearly 17% excluding currency) • Operating profit growth of 23%; operating prof
Slide 4: Third Quarter Financial Snapshot
THIRD QUARTER FINANCIAL SNAPSHOT (US$ in millions, except per share data) • Utility water sales increased 17%, growth Q3 2022 Q3 2021 Change most notable in ultrasonic meters, ORION® Sales $148.0 $128.7 15.0% cellular endpoints and BEACON ® SaaS • Flow instrumentation sales up 5% with FX Gross Margi
Slide 5: Cellular Technology Leadership – "Changing the Way Utilities Live"
CELLULAR TECHNOLOGY LEADERSHIP – “CHANGING THE WAY UTILITIES LIVE” • Celebrated successful completion of single largest ORION ® Cellular AMI deployment to date in September 2022 • 152,000 services with 99.8% read rate • Meters - residential mechanical/commercial ultrasonic • 20-year SaaS with BEACON
Slide 6: Outlook / Macro-Trends
OUTLOOK / MACRO-TRENDS Well Positioned to Capitalize on Secular Tailwinds Driving Smart Water Solution Adoption; Growing Addressable Market • Innovation leader • “Choice matters” portfolio • Demonstrated benefits of efficiency, resiliency and sustainability Demonstrated Execution and Operational Rig
Slide 7: Q&A
Q&A Note: For your planning purposes, our Q4/Full Year 2022 earnings release/call is tentatively scheduled for January 27, 2023 © 2022 Badger Meter, Inc. 7
Slide 8: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS EBITDA Free Cash Flow (US$ in millions) (US$ in millions) Q3 2022 Q3 2021 YTD 2022 YTD 2021 Q3 2022 Q3 2021 Net Earnings (GAAP) $17.9 $15.9 $49.0 $43.6 Cash from Ops (GAAP) $23.8 $15.4 Interest (income) expense (0.1) 0.0 (0.1) 0.0 Capital Expenditures (1.9) (1.5) Inc