Badger Meter's Q3 Earnings Beat Estimates, Sales Up Y/Y, Stock Down

About this update from America Movil Sab De Cv Class B

Badger Meter, Inc BMI reported earnings per share (EPS) of $1.08 for third-quarter 2024, beating the Zacks Consensus Estimate by 5.9%. Also, the bottom line compared favorably with the year-ago quarter’s EPS of 88 cents.Stay up-to-date with all quarterly releases: See Zacks Earnings CalendarQuarterly net sales were $208.4 million, up 12% from $186.2 million in the year-ago quarter. The uptick resulted from continued strong yet normalizing demand for its tailorable water management solutions. However, the top line missed the consensus mark by 0.3%. The company noted that it now expects to deliver high single-digit sales growth rates going ahead. Following the announcement, shares fell 6.3% and closed trading at $205.95 on Oct. 17, 2024. Badger Meter announced a 26% hike in annual dividend rate, representing the 32nd consecutive year of increases. Badger Meter, Inc. Price and Consensus Badger Meter, Inc. price-consensus-chart | Badger Meter, Inc. QuoteSegmental PerformanceIn the quarter under review, utility water sales rose 14% due to continued robust adoption across the BlueEdge suite of solutions by utility customers. This growth is driven by increased sales of meters, water quality, pressure and other sensors alongside ORION communication endpoints and BEACON Software as a Service (SaaS). Sales of flow instrumentation products remained flat year over year, with modest growth in water-focused markets balancing out declines in various de-emphasized applications worldwide.Other DetailsIn the third quarter, gross profit was $83.9 million, up 15.3% year over year. The gross margin was 40.2%, up 110 basis points year over year. The improvement in gross margin highlights the advantages of a favorable sales mix, particularly with robust sales in AMI and software. This positive trend is further supported by effective pricing strategies, cost management and strong operational performance.Operating earnings were $40.6 million or 19.5% of sales compared with $31.4 million or 16.9% of sales in the year-ago quarter.Selling, engineering and administration expenses were $43.3 million or 20.8% of sales compared with $41.3 million or 22.2% of sales in the prior-year quarter. An increase in personal-related expenses such as higher headcount and salaries resulted in the rise.Cash Flow & LiquidityIn the third quarter of 2024, Badger Meter generated $45.1 million of net cash...

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