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Badger Meter Reports First Quarter 2021 Results
MILWAUKEE--(BUSINESS WIRE)--April 20, 2021--Badger Meter, Inc. (NYSE: BMI) today reported results for the first quarter ended March 31, 2021.
First Quarter 2021 Highlights
- Total sales of $117.8 million, an increase of 9% compared to $108.5 million in the comparable prior year quarter.
- Diluted earnings per share (EPS) were $0.47, an increase of 15% over the $0.41 in the comparable prior year period.
- Robust cash from operations of $30.6 million.
- Deployed $44 million of cash on hand to acquire Analytical Technologies, Inc (ATi), adding to and enhancing the comprehensive and scalable water quality monitoring offerings of recently acquired s::can.
- Record high order pace and quarter ending backlog.
“Badger Meter delivered a strong quarter across the breadth of key financial performance metrics including sales, margin, EPS and cash flow,” said Kenneth C. Bockhorst, Chairman, President and Chief Executive Officer. “Most encouraging, we experienced record high order rates in the first quarter with accelerated customer adoption of our innovative digital water technologies and global flow instrumentation market recovery. While the conversion of these robust orders into sales was impeded by certain electronic component shortages and logistics challenges, we executed well as evidenced by the strong operating margin improvement and cash flow, and exited the quarter with a record backlog. Our recent acquisitions performed well and integration teams continue to execute strategic growth plans. I want to recognize the tremendous dedication and efforts of our talented workforce in delivering a great quarter for our customers and shareholders.”
The following information was filed by Badger Meter Inc (BMI) on Tuesday, April 20, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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