Slide 1: Third Quarter 2023 Financial Results
Badger Meter Third Quarter 2023 Financial Results October 19, 2023
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 Highlights
Third Quarter Highlights Y-O-Y Sales Growth % Q3 YTD 25.8% 24.6% • Record financial results for the third quarter 2023 • Robust order pace for smart water solutions continued 15.0% 13.2% • All-time sales record of $186.2 million in Q3, up 26% year-over-year • Utility water sales increased 31% with r
Slide 4: Third Quarter Financial Snapshot Highlights Strong Operating Performance
Third Quarter Financial Snapshot Highlights Strong Operating Performance (US$ in millions, except per share data) • Utility water sales increased robust 31% with strong AMI Q3 2023 Q3 2022 Change demand inclusive of cellular endpoints, BEACON SaaS Sales $186.2 $148.0 25.8% and ultrasonic meters; wat
Slide 5: Participates in $20 Billion Smart Water Solutions Market with Differentiated, Tailorable Offerings
Badger Meter Participates in $20 Billion Smart Water Solutions Market with Differentiated, Tailorable Offerings “Smart Water” Market Breakdown • Not just “metering” – hardware-enabled software providing actionable insights Insights/Action • Increasing utility RFP specifications for broad-based digit
Slide 6: Creating Long-Term Shareholder Value by Enabling Sustainability-Driven Outcomes for Customers
Creating Long-Term Shareholder Value by Enabling Sustainability-Driven Outcomes for Customers • Innovation leader with • Durable macro trends • Strong cash flow and • Differentiated • Strong engagement expanding technology- support long-term borrowing capacity performance on • Values-driven enabled
Slide 7: Questions
Questions For your planning purposes, Badger Meter Q4 2023 earnings are tentatively scheduled for January 26, 2024
Slide 8: GAAP To Non-GAAP Reconciliations
GAAP To Non-GAAP Reconciliations EBITDA Free Cash Flow (US$ in millions) (US$ in millions) Q3 2023 Q3 2022 YTD 2023 YTD 2022 Q3 2023 Q3 2022 Net Earnings (GAAP) $26.0 $17.9 $67.9 $49.0 Cash from Ops (GAAP) $31.4 $23.8 Interest income (1.2) (0.1) (2.6) (0.1) Capital Expenditures (3.0) (1.9) Income ta