Slide 1: Badger Meter Second Quarter 2024 Financial Results
Badger Meter Second Quarter 2024 Financial Results July 19, 2024 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: Second Quarter Record Results; Moderating Year-Over-Year Growth as Expected
Second Quarter Record Results; Moderating Year-Over-Year Growth as Expected Consolidated Y-O-Y Sales Growth Trend 28% • Sales of $217M in Q2 2024, 23% above the prior year benefitting 26% 24% 23% 23% from ongoing market demand and higher than expected customer- focused backlog conversion • Strong ex
Slide 4: Second Quarter Financial Snapshot Demonstrates Continued Strong Operating Performance
Second Quarter Financial Snapshot Demonstrates Continued Strong Operating Performance (US$ in millions, except per share data) Q2 2024 Q2 2023 Change • Utility water sales increased 26% with strong AMI demand inclusive of cellular endpoints, BEACON SaaS Sales $216.7 $175.9 23.2% and both mechanical
Slide 5: BlueEdge by Badger Meter – Simplifying Customer Path to End-to-End Solution Offerings
Recent ACE Tradeshow Featured the Introduction of BlueEdge by Badger Meter – Simplifying Customer Path to End-to-End Solution Offerings • Introduced “umbrella” name for suite of tailorable solutions that integrate water technology, software and services for the management of water • BlueEdge is cust
Slide 6: 2023 Sustainability Report Highlights Continued Progress to Mitigate Risk, Reduce Cost
2023 Sustainability Report Highlights Continued Progress to Mitigate Risk, Reduce Cost and Enable Customer Outcomes ↓ 18% • Demonstrated outperformance from both a financial and GHG emissions sustainability perspective intensity • Integral to our business – value creating (customers) and value prese
Slide 7: Outlook Continues to Support Long-Term Shareholder Value Creation
Outlook Continues to Support Long-Term Shareholder Value Creation with Favorable Demand and Industry Dynamics • Innovation leader with • Durable macro trends • Strong cash flow and • Differentiated • Strong engagement expanding technology- support long-term borrowing capacity performance despite • V
Slide 8: Questions
Questions For your planning purposes, Badger Meter Q3 2024 earnings are tentatively scheduled for October 17, 2024 8
Slide 9: GAAP To Non-GAAP Reconciliations
GAAP To Non-GAAP Reconciliations EBITDA Free Cash Flow (US$ in millions) (US$ in millions) Q2 2024 Q2 2023 YTD 2024 YTD 2023 Q2 2024 Q2 2023 Net Earnings (GAAP) $33.1 $22.5 $62.2 $41.9 Cash from Ops (GAAP) $36.4 $22.8 Interest income (1.8) (0.8) (3.4) (1.4) Capital Expenditures (2.3) (2.7) Income ta