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Badger Meter, Inc. (BMI) is an innovator, manufacturer, marketer, and distributor of products that incorporate flow measurement, control, quality, and communication solutions. The company focuses on providing smart water solutions and flow instrumentation for utility and industrial markets. BMI's offerings include advanced metering infrastructure, software services, and various meters and sensors for water and fluid management.
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Utility Water - Develops and supplies water meters, radios, software technologies, and services for water utilities, including sensors for leak detection and water quality monitoring.
- Sub-products:
- Mechanical and ultrasonic water meters
- Cellular Advanced Metering Infrastructure (AMI) solutions
- ORION® Cellular endpoints
- BEACON® Software as a Service (SaaS)
- Sub-products:
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Flow Instrumentation - Provides meters, valves, and sensing instruments for measuring and controlling fluids like water, air, steam, and other liquids and gases, targeting industrial markets such as water/wastewater and HVAC.
- Given the strong sales growth over the past three years, are you anticipating a significant slowdown in 2025 to low or mid-single-digit growth, and how does this align with your long-term strategic growth expectations?
- Considering the resilience of your utility business even during challenging times, would a scenario of flat or declining sales growth in 2025 be surprising, and what factors could lead to such an outcome?
- Can you quantify the potential impact of recent hurricanes on your business in the Southeastern U.S., specifically how project delays in that region might influence your fourth-quarter and 2025 outlook?
- With gross margins reaching a record high this quarter, can you elaborate on the key drivers behind this improvement and discuss the sustainability of these margin levels going forward, especially considering potential mix variability?
- Your SaaS revenues increased approximately 35% this quarter; to what extent is this growth driven solely by meter deployments versus adoption of new services like leak detection under BlueEdge, and how do you plan to diversify and expand SaaS revenue streams beyond hardware attachment?