Badger Meter Files Q3 2024 10-Q

TL;DR

Badger Meter's Q3 2024 10-Q is in. Check financials.

AI Summary

Badger Meter Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Specific financial figures and segment performance are provided, reflecting the company's ongoing business activities in the water meter industry.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational performance of Badger Meter, crucial for understanding its market position and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 20240930 — Period End Date (Reporting period for the 10-Q filing.)
• 20241018 — Filing Date (Date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• BADGER METER INC (company) — Filer
• 4545 WEST BROWN DEER ROAD (location) — Business Address
• MILWAUKEE (location) — City
• WI (location) — State
• bmi:SyrinixLimitedMember (company) — Subsidiary/Segment Mentioned

FAQ

Key Financial Figures

• $1 — n stock outstanding with a par value of $1 per share. Table of Contents BADGER

Filing Documents

• bmi-20240930.htm (10-Q) — 1224KB
• bmi-ex31_1.htm (EX-31.1) — 19KB
• bmi-ex31_2.htm (EX-31.2) — 19KB
• bmi-ex32.htm (EX-32) — 18KB
• 0000950170-24-115576.txt ( ) — 4638KB
• bmi-20240930.xsd (EX-101.SCH) — 560KB
• bmi-20240930_htm.xml (XML) — 757KB

Financial Information

Part I. Financial Information: Item 1

Financial Statements (unaudited)

Financial Statements (unaudited): 4 Consolidated Condensed Balance Sheets - September 30, 2024 and December 31, 2023 4 Consolidated Condensed Statements of Operations - Three and Nine Months Ended September 30, 2024 and 2023 5 Consolidated Condensed Statements of Comprehensive Income - Three and Nine Months Ended September 30, 2024 and 2023 6 Consolidated Condensed Statements of Cash Flows - Nine Months Ended September 30, 2024 and 2023 7 Consolidated Condensed Statements of Shareholders' Equity – Three and Nine Months Ended September 30, 2024 and 2023 8 Notes to Unaudited Consolidated Condensed Financial Statements 9 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 20 Item 4

Controls and Procedures

Controls and Procedures 20

Other Information

Part II. Other Information: Item 1A

Risk Factors

Risk Factors 21 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 5 Other Information 21 Item 6 Exhibits 21

Signatures

Signatures 22 2 Table of Contents Special Note Regarding Forward Looking Statements Certain statements contained in this Quarterly Report on Form 10-Q, as well as other information provided from time to time by Badger Meter, Inc. (the "Company" or "Badger Meter") or its employees, may contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those statements. The words "anticipate," "believe," "estimate," "expect," "think," "should," "could" and "objective" or similar expressions are intended to identify forward looking statements. All such forward looking statements are based on the Company's then current views and assumptions and involve risks and uncertainties. See Item 1A "Risk Factors" of the Company's Annual Report on Form 10-K for the year ended December 31, 2023 for further information regarding risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward looking statements. The Company disclaims any obligation to publicly update or revise any forward-looking statements as a result of new information, future events or any other reason. 3 Table of Contents

– Financial Information

Part I – Financial Information

Financial Statements

Item 1 Financial Statements BADGER METER, INC. Consolidated Conden sed Balance Sheets September 30, December 31, (Unaudited) (In thousands) 2024 2023 Assets Current assets: Cash and cash equivalents $ 258,955 $ 191,782 Receivables 93,427 83,507 Inventories: Finished goods 35,725 34,764 Work in process 39,011 41,261 Raw materials 83,781 77,649 Total inventories 158,517 153,674 Prepaid expenses and other current assets 18,397 13,214 Total current assets 529,296 442,177 Property, plant and equipment, at cost 231,777 225,988 Less accumulated depreciation ( 158,498 ) ( 152,110 ) Net property, plant and equipment 73,279 73,878 Intangible assets, at cost less accumulated amortization 48,957 53,737 Other assets 13,543 11,249 Deferred income taxes 22,785 22,715 Goodwill 115,001 113,163 Total assets $ 802,861 $ 716,919 Liabilities and shareholders' equity Current liabilities: Payables $ 77,381 $ 81,807 Accrued compensation and employee benefits 29,756 29,871 Warranty and after-sale costs 15,660 11,102 Other current liabilities 6,366 9,168 Total current liabilities 129,163 131,948 Long-term deferred revenue 60,879 49,763 Deferred income taxes 5,108 5,061 Accrued non-pension postretirement benefits 3,808 3,614 Other accrued employee benefits 6,704 5,293 Other long-term liabilities 6,014 4,758 Commitments and contingencies (Note 5) Shareholders' equity: Common stock, $ 1 par, authorized 80,000,000 , issued 37,221,098 at September 30, 2024 and December 31, 2023 37,221 37,221 Capital in excess of par value 64,234 59,185 Reinvested earnings 527,080 458,719 Accumulated other comprehensive loss ( 650 ) ( 1,646 ) Less: Treasury stock, at cost, 7,810,442 shares at September 30, 2024 and 7,873,781 shares at December 31, 2023 ( 36,700 ) ( 36,997 ) T

View Full Filing

View this 10-Q filing on SEC EDGAR