Every material Form 8-K Badger Meter filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Badger Meter reported third quarter 2024 results for the period ended September 30, 2024, with sales up 12% year over year to $208.4 million and diluted earnings per share up 23% to $1.08. Operating profit rose 29% and the operating margin reached a record 19.5%, while the company also raised its annual dividend rate by 26% to $1.36 per share.
Third quarter net sales of $208.4 million, up 12% from $186.2 million a year earlier
Diluted EPS of $1.08, up from $0.88; operating profit margin of 19.5% versus 16.9% a year earlier
Net cash provided by operations of $45.1 million, up 43% year over year
Annual dividend rate increased 26% to $1.36 per share, the 32nd consecutive year of dividend growth
Badger Meter reported second quarter 2024 net sales of $216.7 million, up 23% from $175.9 million a year earlier, with diluted EPS of $1.12 versus $0.76. Operating profit rose 41% and the operating margin widened to 19.2% from 16.8%, which shows strong growth in both sales and profit for shareholders. Management said it expects high single digit sales growth in the second half of 2024 and modest operating margin expansion over the full year.
Q2 2024 net sales $216.7 million vs. $175.9 million in Q2 2023 (up 23%)
Operating margin 19.2% vs. 16.8% a year earlier; operating earnings up 41%
Diluted EPS $1.12 vs. $0.76; six-month diluted EPS $2.11 vs. $1.42
Management expects high single digit sales growth in the back half of 2024
Badger Meter reported first quarter 2024 results for the period ended March 31, 2024, with net sales up 23% year-over-year to $196.3 million and diluted earnings per share up 50% to $0.99. Operating profit rose 46%, and the company said operating margin reached 18.6%, and it did not provide numeric guidance in the release.
Net sales of $196.3 million compared with $159.1 million a year earlier.
Diluted EPS of $0.99 compared with $0.66 in the prior year quarter.
Operating margin of 18.6%, up 290 basis points from 15.7%; utility water sales rose 29%, while flow instrumentation sales fell 3%.
Telog/Unity remote network monitoring acquisition completed at the start of 2024; the company will hold a conference call on April 18, 2024.
Badger Meter reported fourth quarter and full year 2023 results in a press release furnished under Item 2.02. Fourth quarter net sales rose 24% to $182.4 million and diluted EPS rose 40% to $0.84, while full year sales reached $703.6 million and diluted EPS reached $3.14, up 39%. Growth in utility water sales and higher margins drove the results, which the company says it expects to support sales and earnings growth in 2024.
Q4 2023 net sales were $182.4 million, up 24% from $147.3 million a year earlier.
Q4 2023 operating profit margin was 17.6%, up 230 basis points from 15.3%.
Full year 2023 diluted EPS was $3.14, up from $2.26, and full year net cash from operations was $110.1 million.
Management said it is confident in growing sales and earnings year-over-year in 2024; a conference call was held January 26, 2024 at 10:00 AM Central.
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