What's Going On With Water Technology Company Badger Meter Shares Today?
Portfolio Pulse from Anusuya Lahiri
Badger Meter, Inc (NYSE:BMI) reported a 24% year-on-year increase in Q4 2023 sales to $182.44 million, slightly above consensus estimates. Utility water sales rose 28% with strong demand for digital smart water solutions. Gross margin improved to 39.2%, and operating margin increased to 17.6%. EPS was $0.84, above the $0.82 consensus. The company has a strong cash position and is confident in future growth. However, BMI shares fell 7.16% to $141.41.
January 26, 2024 | 3:46 pm
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Badger Meter reported strong Q4 results with sales growth and improved margins, but shares dropped 7.16% despite the positive earnings beat.
The drop in Badger Meter's stock price despite positive earnings results could be due to investors' high expectations or other market factors not mentioned in the article. The short-term impact is negative as the share price has already declined, but the company's strong performance and positive outlook may support recovery.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100