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Badger Meter BMI Q2 2026 earnings

Reported July 22, 2026 · Before market open

Revenue$222.3MBeat by $1.7M
EPS$1.02Beat by $0.01
Revenue estimate$220.6M
EPS estimate$1.01
While year-over-year revenue declined against the highest quarterly revenue in Badger Meter history, we delivered solid sequential operating leverage including the benefit of cost management actions initiated in the quarter. Our pipeline of awarded projects remains broadly on schedule to further ramp in the second half of 2026, and we continue to curate the multi-year opportunity funnel for both metering and beyond the meter applications. Since closing on the acquisition of UDlive on May 1, we've made solid progress in our integration efforts and initial commercial interest has been strong. I want to thank our team for their execution and collaborative efforts in support of our customers.
Kenneth C. Bockhorst

Next report

Oct 20, 2026 (in 2 months)
Revenue estimate$241.8M
EPS estimate$1.21

Financials

Q2 2026

Income statement

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Revenue$222.3M-6.6%
Gross profit$90.8M-7.2%
Operating income$39.4M-12.2%
Net income$29.7M-14.1%
EPS (diluted)$1.02-12.8%

Balance sheet

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Cash & equivalents$95.7M-42.1%
Total equity$682.9M+0.8%
Total assets$998.2M+6.6%

Cash flow

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Operating cash flow$26.7M-40.1%
CapEx$4.8M+22.9%
Free cash flow$21.9M-46.2%

Valuation & ratios

Valuation

as of 08/27/26
See full
Market cap$3.98B-28.4%
P/E31.6×-9.3×
P/S4.5×-1.8×

Profitability

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Gross margin41.3%+0.1pp
Operating margin18.6%-1.3pp
Net margin14.3%-1.3pp
FCF margin17.1%-1.3pp

Returns & leverage

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Return on equity18.5%-3.4pp
Current ratio2.4×-0.8×

Segments

By geography

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Europe$13.0M+14.9%
Asia$3.5M-14.5%
Middle East$813.0K-69.3%
Other Geographical Areas$325.0K-67.3%

FAQ

When did Badger Meter report Q2 2026 earnings?
Badger Meter (BMI) reported Q2 2026 earnings on July 22, 2026 before market open.
What were Badger Meter's Q2 2026 revenue and EPS?
Badger Meter reported revenue of $222.3M and eps of $1.02 for Q2 2026.
Did Badger Meter beat estimates in Q2 2026?
Revenue beat the consensus estimate of $220.6M by $1.7M. EPS beat the consensus estimate of $1.01 by $0.01.
Where can I find Badger Meter's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001193125-26-311374) and the 10-Q periodic report (0001193125-26-313981) directly on SEC EDGAR. The filing index links above go to sec.gov.