Badger Meter 2Q 2026: Revenue $222.3M, EPS $1.02— 10-Q Summary
Badger Meter (BMI) reported Q2 2026 revenue of $222.3M, down from $238.1M a year earlier, and diluted EPS of $1.02 versus $1.17. Net income was $29.7M versus $34.6M. The company cited uneven AMI project pacing, mix shifts toward SaaS and BEACON, and longer lead times from component constraints and tariffs, plus acquisitions expanding sewer monitoring.
How this was made
The 30-second read
Why it matters
Revenue fell to $222.3M and diluted EPS to $1.02 YoY, while management attributes weakness to uneven AMI project pacing and notes longer lead times and higher costs from component constraints and tariffs. It also cites progress in digital/SaaS mix and completed acquisitions expanding sewer monitoring.
Market read
Traders can reassess near-term demand and margin risk based on the reported declines and the stated operational headwinds, while monitoring whether the digital/SaaS mix and upgrade market offset pacing issues.
What to watch
The summary highlights component constraints and tariffs causing longer lead times and higher costs, but does not quantify margin impact or provide guidance, leaving uncertainty around how much is temporary versus structural.
Background
The article summarizes Badger Meter’s Q2 2026 results from a newly filed SEC 10-Q.
Ticker impact
Badger Meter reported Q2 2026 revenue of $222.3M and diluted EPS of $1.02, both down versus the year-ago quarter.
Near-term downside bias versus prior expectations, with focus on whether AMI project pacing and cost/lead-time issues persist.
This is a primary quarterly results disclosure with multiple operational drivers (uneven AMI pacing, longer lead times, higher costs) that can affect forward demand and margins.
Market effects
Water infrastructure and metering equipment names may see read-across from AMI pacing commentary and SaaS/digital mix shift.
Primarily US-focused given the mention of U.S. AMI penetration and upgrade market.
Limited, as the drivers cited are operational and US AMI-related rather than global macro.
Counterpoint
Despite YoY declines, the mix shift toward SaaS and BEACON digital offerings and ~40% U.S. AMI penetration could support longer-cycle upgrade demand.
Key entities
- companyBadger Meter
Reported Q2 2026 revenue, EPS, and operational updates including AMI pacing, digital offerings, and acquisition progress.
- corporate_actionUDlive acquisition
Completed in May 2026 to expand sewer monitoring portfolio.
- corporate_actionSmartCover acquisition
Earlier acquisition referenced as part of portfolio expansion.
