The following is a summary of the Badger Meter, Inc. (BMI) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Badger Meter reported a record quarterly revenue of $217 million in Q2 2024, marking a 23% year-over-year growth.

• Operating margins expanded significantly by 240 basis risk (bps) to reach a record high of 19.2%.

• Earnings per share (EPS) improved by 47% year-over-year to $1.12.

• Free cash flow increased significantly to $34.1 million from $20.1 million in the previous year.

Business Progress:

• The utility water product line experienced a 26% year-over-year growth, driven by strong demand for cellular AMI, including higher sale of meters and related software.

• Introduced BlueEdge, a comprehensive suite of connected technologies for efficient water management, showcased at the ACE trade show.

• Published an annual sustainability report emphasizing the company's commitment to reducing environmental impact and driving sustainability in water-related markets.

Opportunities:

• Continued strong demand for innovative water solutions like the Smart Water Suite and BlueEdge, reflecting underlying secular growth drivers in the water industry.

Risks:

• Possible moderation of sales growth to high single-digit range in the latter half of the year due to higher year-over-year comparison bases and normalized backlog conversion rates.

More details: Badger Meter IR

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