Badger Meter, Inc. (BMI)

Badger Meter’s revenue was essentially flat year over year in the third fiscal quarter of 2026, with results reported October 22, 2026 based on preliminary figures, while EPS of $1.24 came in line with consensus. Revenue rose 0.1% to roughly $235.9 million (up from $235.7 million a year ago), and within its flow-measurement and water-management equipment and software portfolio, the quarter was led by revenue recognized at a point in time of about $197.6 million, down 8.1% year over year, alongside revenue recognized over time of roughly $24.8 million, up 7.2%. Profitability held at a high level, with gross margin near 42% and operating margin around 20%, as gross profit came in at about $98.8 million and operating income was roughly $47.7 million. Net income increased 2.4% to about $35.9 million (up from $35.1 million a year ago), while EPS rose 4.2% from $1.19. Operating cash flow was about $43.3 million, and the company returned cash through roughly $55.5 million of share repurchases and about $12.6 million in dividends. For the next period, consensus calls for EPS of $1.25.