Slide 1: Badger Meter First Quarter 2023 Earnings
BADGER METER FIRST QUARTER 2023 EARNINGS April 20, 2023 © 2023 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 Y-O-Y Sales Growth Trend 20.2% • Record financial results for the first quarter 2023 15.0% 12.4% • Robust order pace for smart water solutions continued; record 12.2% backlog despite record sales 8.5% • All-time sales record of $159.1 million in Q1, up 20% year- over-year • Utility water
Slide 4: First Quarter Financial Snapshot
FIRST QUARTER FINANCIAL SNAPSHOT (US$ in millions, except per share data) Q1 2023 Q1 2022 Change • Utility water sales increased robust 20% with strong demand and improved component Sales $159.1 $132.4 20.2% availability; growth most notable in cellular endpoints, BEACON SaaS and ultrasonic Gross Ma
Slide 5: Outlook / Macro-Trends
OUTLOOK / MACRO-TRENDS Constructive Industry Backdrop • Durable macro trends support long-term smart water solution adoption • Innovation leader with expanding technology-enabled software offerings • Demonstrated benefits of efficiency, resiliency and sustainability Differentiated Execution • Differ
Slide 6: Q&A
Q&A Note: For your planning purposes, our Q2 2023 earnings release/call is tentatively scheduled for July 20, 2023 © 2023 Badger Meter, Inc. 6
Slide 7: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS EBITDA Free Cash Flow (US$ in millions) (US$ in millions) Q1 2023 Q1 2022 Q1 2023 Q1 2022 Net Earnings (GAAP) $19.4 $14.4 Cash from Ops (GAAP) $18.0 $9.2 Interest income (0.6) 0.0 Capital Expenditures (4.3) (1.1) Income tax provision 6.2 4.4 Free Cash Flow $13.7 $8.1