Badger Meter Reports Strong Q3 Sales, Utility Water Segment Drives Notable Growth
Portfolio Pulse from Anusuya Lahiri
Badger Meter, Inc (NYSE:BMI) reported Q3 FY23 sales growth of 26% YoY to $186.2 million, beating the consensus of $179.1 million. EPS of $0.88 also beat the consensus of $0.81. Utility water sales increased 31% YoY, contributing to the sales increase. The company held $162.9 million in cash and equivalents and generated $31.4 million in operating cash flow. BMI shares were up 6.73% at $143.86 during early morning trading on Thursday.
October 19, 2023 | 1:55 pm
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Badger Meter reported strong Q3 sales and EPS, beating consensus estimates. Utility water sales, a key segment, saw a 31% YoY increase. Shares were up in early trading.
Badger Meter's strong Q3 results, particularly in the utility water segment, and the beat on consensus estimates are positive news for the company. This has already reflected in the stock's price movement in early trading.
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