NYSE$BMI

Badger Meter Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Badger Meter reported an increase in sales and EPS despite facing inflationary pressures and supply chain disruptions.

Badger Meter reported an 8.5% increase in sales for Q4 2022, reaching $147.3 million compared to $135.7 million in the prior year. Diluted earnings per share (EPS) increased to $0.60, up from $0.59 in the previous year. The company also highlighted strong cash flow, with $29.7 million in net cash provided by operations.

  • Total sales increased by 8.5% year-over-year to $147.3 million.
  • Diluted earnings per share (EPS) increased to $0.60, up from $0.59 last year.
  • Net cash provided by operations was $29.7 million.
  • Utility water sales increased 9% year-over-year.

Headline financials

Total Revenue

$147M

Previous: $136M+8.5%
EPS (adj)

$0.60

Previous: $0.59+1.7%
Capital Expenditures

$1.2M

Previous: -$1.42M+184.4%
Free Cash Flow

$28.5M

Previous: $26.2M+8.9%
Net Income

$17.5M

Previous: $17.3M+1.5%
Operating Income

$22.5M

Previous: $22.9M-1.7%
Gross Profit

$57M

Previous: $54.8M+3.9%
Cash & Equivalents

$138M

Previous: $87.2M+58.4%
Total Assets

$603M

Previous: $531M+13.6%
Stock-Based Comp

$978K

Previous: $793K+23.3%

Revenue & EPS history

Badger Meter · Revenue · Quarterly

$147M

Q4 2022+8.5%vs Q4 2021
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Revenue by segment

Badger Meter · $8M total across 1 segment · Q4 2019

  • Municipal Water
    $8M

Forward guidance

The demand environment remains robust, aided by favorable secular growth trends for digital smart water solutions. Macro challenges have not dissipated, but the company expects pockets of inflationary leveling along with continual supply chain improvements as the year progresses.

Tailwinds

  • Robust demand environment.
  • Favorable secular growth trends for digital smart water solutions.
  • Ability to drive price realization.
  • Expect pockets of inflationary leveling.
  • Continual supply chain improvements.

Headwinds

  • Macro challenges have not dissipated.
  • Persistent volatility in the operating environment.
  • Inflationary pressures.
  • Intermittent supply chain disruptions.
  • Foreign currency risk.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

+1.6%

Avg return

Earnings day

+2.2%

Avg return

5 days after

+3.6%

Avg return

30 days after

58%

38 / 66 earnings

Positive

+17.8%

Q3 2012

Best reaction

-13.2%

Q3 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.5%-18.9%-25.5%
Q4 2025-11.0%-7.7%-7.3%
Q3 2025-5.5%-0.1%-10.3%
Q2 2025-1.0%-2.8%-7.9%
Q1 2025+9.6%+13.4%+33.2%
Q4 2024+2.6%+6.2%+0.8%
Q3 2024-5.5%-9.5%-2.0%
Q2 2024+3.9%+3.7%+3.1%
Q1 2024+15.5%+21.8%+28.9%
Q4 2023-3.9%-5.5%+2.8%
Q3 2023+1.6%+1.6%+10.1%
Q2 2023+12.6%+13.2%+9.5%
Q1 2023+12.6%+10.2%+18.1%
Q4 2022-3.2%+2.5%+1.1%
Q3 2022+0.7%+7.2%+19.8%
Q2 2022+9.5%+7.9%+22.4%
Q1 2022-7.1%-11.3%-17.8%
Q4 2021+17.3%+19.7%+16.0%
Q3 2021-0.6%+1.1%+6.3%
Q2 2021+4.6%+5.9%+8.2%
Q1 2021-1.9%+1.0%-3.7%
Q4 2020-2.7%-0.4%+12.4%
Q3 2020+7.6%+5.0%+6.7%
Q2 2020-4.1%-3.1%+2.9%
Q1 2020+11.7%+6.8%+6.7%
Q4 2019+6.0%+10.5%+3.1%
Q3 2019+17.2%+13.7%+14.3%
Q2 2019-7.3%-7.2%-7.2%
Q1 2019-3.1%-3.3%-9.8%
Q4 2018+8.1%+10.1%+5.8%
Q3 2018-2.3%-3.1%+6.4%
Q2 2018+11.5%+14.9%+15.0%
Q1 2018-8.2%-5.7%-6.7%
Q4 2017-0.5%-3.0%+1.2%
Q3 2017-13.2%-14.8%-14.9%
Q2 2017+8.0%+9.7%+6.8%
Q1 2017+10.1%+15.0%+8.0%
Q4 2016-8.9%-7.0%-11.1%
Q3 2016-7.1%-4.3%+5.6%
Q2 2016-4.9%-6.3%-7.4%
Q1 2016+11.0%
Q4 2015+0.6%
Q3 2015-5.2%
Q2 2015-10.9%
Q1 2015+0.3%
Q4 2014+0.6%
Q3 2014+1.5%
Q2 2014+5.1%
Q1 2014-3.0%
Q4 2013+4.7%
Q3 2013+4.3%
Q2 2013+2.3%
Q1 2013-10.5%
Q4 2012-5.1%
Q3 2012+17.8%
Q2 2012-9.0%
Q1 2011+2.7%
Q1 2012+2.9%
Q4 2009+3.9%
Q4 2011+3.9%
Q3 2010+9.9%
Q3 2011+9.9%
Q4 2010+1.1%
Q2 2010+1.1%
Q2 2011+1.1%
Q1 2010-0.6%

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