What's Going On With Badger Meter Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
Badger Meter, Inc (NYSE:BMI) reported a 23% year-on-year sales growth for Q1 2024, reaching $196.3 million and surpassing the consensus of $182.3 million. EPS was $0.99, beating the consensus of $0.82. Utility water sales rose by 29%, driven by customer adoption of its smart water solutions. However, flow instrumentation product sales dropped by 3%. Despite a slight decrease in gross margin to 39.3%, operating margin improved significantly to 18.6%. The company's cash position was strong at $199.3 million, with $21.5 million generated in operating cash flow. BMI stock has seen over a 46% increase in the last 12 months and is up 15.8% to $177.24. Investors can also gain exposure to BMI through Tidal ETF Trust Newday Ocean Health ETF (NYSE:AHOY) and Invesco S&P SmallCap Information Technology ETF (NASDAQ:PSCT).
April 18, 2024 | 4:52 pm
News sentiment analysis
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POSITIVE IMPACT
Tidal ETF Trust Newday Ocean Health ETF (AHOY) offers exposure to Badger Meter, which has reported strong Q1 2024 results.
As AHOY includes Badger Meter in its holdings, the strong performance of BMI could positively influence AHOY's performance, albeit indirectly due to the diversified nature of ETFs.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Badger Meter reported significant sales growth and earnings beat for Q1 2024, with a notable increase in utility water sales and an improved operating margin.
The strong Q1 2024 performance, especially the sales growth and earnings beat, is likely to positively impact investor sentiment and BMI's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Invesco S&P SmallCap Information Technology ETF (PSCT) includes Badger Meter, which has shown impressive Q1 2024 performance.
PSCT's exposure to Badger Meter, following its strong Q1 2024 results, may positively impact the ETF's performance, though the effect might be moderated by the ETF's broader portfolio.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50