Badger Meter, Inc. (BMI) Earnings Call Transcripts

Badger Meter, Inc.'s Latest Earnings Call - May 21, 2026

In the first quarter of fiscal year 2026, Badger Meter, Inc. (BMI:US) reported revenue of over $900 million, marking a 17% compound annual growth rate over the past five years. The company maintained a premium financial profile with a 24% EBITDA margin and a 120% free cash flow conversion rate. Management signaled a high single-digit growth outlook for the next five years, driven by ongoing demand for advanced metering infrastructure (AMI) and expansion into Beyond The Meter technologies. No changes to guidance were noted during the call, with expectations of continued growth despite a challenging macroeconomic environment.

Reported metrics

Guidance from management

Management maintained its high single-digit growth outlook for the next five years, driven by strong demand in the metering and software segments. No changes to guidance were noted during the call.

What management said

Ladies and gentlemen, good morning. My name is Bill Blank. I'm the Director of Global Marketing and Communications for Badger Meter. And on behalf of our entire team, I'm pleased to welcome our audience here in New York City and our audience watching online around the world to Badger Meter Investor Day. To get us started today, it's my pleasure to introduce Barb Noverini, our Senior Director of Investor Relations. ...

Thank you, Matt. All right, everyone. We're going to take a short break right now, before we start our second half of the day. So to our audience online, it's 10:00 in New York City right now. We'll be back at 10:15, 15 minutes from now. And to our audience here in the room, please do stretch your legs. Our beverages are still available. The restrooms are by the elevators where you came to the fifth floor today, and ...

What analysts pressed on

Analysts expressed concerns about project pacing and the unevenness in revenue recognition due to the complexity of AMI deployments. There were also questions regarding the competitive landscape and how Badger Meter plans to maintain its market position amidst increasing competition.

Main topics on the call

• High Single-Digit Growth Outlook — Management reiterated a growth expectation of high single digits over the next five years, driven by a combination of metering business growth and software expansion. CEO Ken Bockhorst stated, "we're positioned to win an...
• Expansion of Beyond The Meter Technologies — Badger Meter is focusing on expanding its offerings beyond traditional metering solutions, which could unlock a $10 billion incremental market. Kim Stoll noted, "Beyond The Meter unlocks a large early-stage opportunity w...
• Strong Financial Metrics — The company reported a 24% EBITDA margin and a 120% free cash flow conversion rate, indicating robust financial health. CFO Dan Waltzien emphasized, "we feel great that this has been a really good cash flow-producing bus...
• Durable Macro Trends — Management highlighted ongoing trends such as aging infrastructure and workforce challenges as key drivers for demand in the water utility sector. Bockhorst stated, "the demand growth and scarcity, more people on the pla...

Read the full Badger Meter, Inc. transcript (May 21, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 30 Badger Meter, Inc. earnings call transcripts on record, spanning February 5, 2020 to July 22, 2026. Based on this history, Badger Meter, Inc. reports quarterly. The most recent call on file is dated July 22, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

BMI

Exchange

NYSE

Country

US

Sector

Information Technology

Industry

Electronic Equipment, Instruments and Components

Calls on record

30

First call

February 5, 2020

Most recent

July 22, 2026

Reporting cadence

quarterly