Slide 1: Badger Meter First Quarter 2025 Financial Results
Badger Meter First Quarter 2025 Financial Results April 17, 2025 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: First Quarter 2025 Results Drive Strong Start to the Year Across Most Measures
First Quarter 2025 Results Drive Strong Start to the Year Across Most Measures Consolidated Y-O-Y Sales Growth Trend • Sales of $222.2M in Q1 2025 increased by 13% year-over-year 23% 23% (10% ex SmartCover) 13% 13% • Record operating margin of 22.2% and year-over-year operating 12% profit growth of
Slide 4: First Quarter Financial Snapshot Highlights Earnings Expansion Potential Across Business
First Quarter Financial Snapshot Highlights Earnings Expansion Potential Across Business (US$ in millions, except per share data) Q1 2025 Q1 2024 Change • Utility water sales increased 16% (12% ex SmartCover), Sales $222.2 $196.3 13.2% driven by ongoing adoption of Cellular AMI including meters, ORI
Slide 5: Exposures Manageable with Mitigation Efforts; Estimated Impact Contained within Normalized Gross Margin Range
Exposures Manageable with Mitigation Efforts (w/ Lag Effects); Estimated Impact Contained within Normalized Gross Margin Range; Competitively Level Playing Field For Mitigation Actions NOTE: Subject to change – based upon current trade/tariff conditions as of April 17, 2025 Summary of Potential Tari
Slide 6: Outlook Continues to Support Long-Term Shareholder Value Creation with Favorable Demand and Industry Dynamics
Outlook Continues to Support Long-Term Shareholder Value Creation with Favorable Demand and Industry Dynamics • Innovation leader with • Durable macro trends • Strong cash flow and • Differentiated • Strong engagement expanding technology- support long-term borrowing capacity performance despite • V
Slide 7: Questions
Questions For your planning purposes, Badger Meter Q2 2025 earnings are tentatively scheduled for July 22, 2025 7
Slide 8: GAAP To Non-GAAP Reconciliations
GAAP To Non-GAAP Reconciliations EBITDA (US$ in millions) Free Cash Flow (US$ in millions) Q1 2025 Q1 2024 Q1 2025 Q1 2024 Net Earnings (GAAP) $38.4 $29.1 Cash from Ops (GAAP) $33.0 $21.5 Interest income (1.3) (1.5) Capital Expenditures (3.0) (2.7) Income tax provision 12.4 9.0 Free Cash Flow $30.0