Slide 1: Badger Meter First Quarter 2022 Earnings
BADGER METER FIRST QUARTER 2022 EARNINGS April 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: Highlights
HIGHLIGHTS Q1 Sales Growth % 12.4% • Record order pace with strong momentum in adoption of smart 8.6% water offerings. Exiting quarter with record backlog • First quarter sales of $132.4 million, up 12% year-over-year • Utility water sales increased 15%. Robust orders/backlog exceeded sales conversi
Slide 4: First Quarter Financial Snapshot
FIRST QUARTER FINANCIAL SNAPSHOT (US$ in millions, except per share data) Q1 2022 Q1 2021 Change • Utility water sales increased robust 15%, yet were limited by component availability; Sales $132.4 $117.8 12.4% growth most notable in ultrasonic meters, cellular endpoints and BEACON SaaS Gross Margin
Slide 5: Cash Flow / Working Capital
CASH FLOW / WORKING CAPITAL • Business model lends itself to resilient free cash flow generation, with Free cash flow conversion conversion of earnings at 100% plus of net earnings trend * • Embarked on a cash flow conversion / working capital structural 2018 115% improvement process beginning in 20
Slide 6: Outlook / Macro-Trends
OUTLOOK / MACRO-TRENDS • Capitalizing on robust customer demand for our leading water instrumentation and digital software offerings enabling efficiency, resiliency and sustainability – “choice matters” portfolio to meet wide-ranging customer needs • Differentiating performance with disciplined exec
Slide 7: Q&A
Q&A Note: For your planning purposes, our Q2 2022 earnings release/call is tentatively scheduled for July 20, 2022 © 2022 Badger Meter, Inc. 7
Slide 8: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS EBITDA Free Cash Flow (US$ in millions) (US$ in millions) Q1 2022 Q1 2021 Q1 2022 Q1 2021 Net Earnings (GAAP) $14.4 $13.8 Cash from Ops (GAAP) $9.2 $30.6 Interest expense 0.0 0.0 Capital Expenditures (1.1) (1.8) Income tax provision 4.4 3.9 Free Cash Flow $8.1 $28.8