Badger Meter Q1 record revenue $159.1M; EPS up 35% to $0.66; acquired Syrinix

BADGER METER INC

2023-Q1 EPS reported $0.66 revenue$159,101,000

Total sales $159.1M, up 20% YoY from $132.4M; diluted EPS $0.66 vs $0.49 prior year.
Operating profit margin expanded 150 bps to 15.7%; gross margin improved 120 bps to 39.5%.
Completed acquisition of Syrinix for $18M in January 2023, adding pressure monitoring/leak detection capabilities.
Utility water sales +20% YoY; flow instrumentation sales +22%; record backlog despite record sales.
Healthy demand and supply chain relief support continued strong performance; Barron's 100 Most Sustainable Companies list.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BADGER METER INC reported first quarter ended March 31, 2023 results: revenue $159.1 million, EPS $0.66.

Period: first quarter ended March 31, 2023
Revenue: $159.1 million
EPS: $0.66
Result: reported results

Exact text from the filing

WIRE)--April 20, 2023--Badger Meter, Inc. (NYSE: BMI) today reported record results for the first quarter ended March 31, 2023. First Quarter 2023 Highlights Total sales of $159.1 million, 20% higher than the prior year’s $132.4 million. Operating profit increased 33% year-over-year, with operating profit margins expanding 150 basis points to 15.7% from 14.2%.

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Source: SEC EDGAR

accession 0001157523-23-000585

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