Badger Meter Posts 9% Q1 Sales Drop, CEO Purchases 2,200 Shares
Badger Meter’s net sales dropped 9% to $202.3 million in Q1 2026, and EPS fell to $0.93, missing estimates and sending the stock down 19%. CEO Kenneth Bockhorst purchased 2,200 shares at $117.53 as management predicts new project starts in the second half of 2026.
1. Q1 2026 Financial Results
Badger Meter reported net sales of $202.3 million in Q1 2026, a 9% decline year-over-year, and EPS of $0.93, missing consensus expectations. This resulted in a 19% drop in the share price following the release.
2. Management's Timing Explanation
Management attributes the sales decline to the completion of several large projects, creating a temporary revenue gap, and expects new contracts to start in the second half of 2026.
3. CEO Insider Purchase
Chairman and CEO Kenneth Bockhorst bought 2,200 shares at $117.53 on April 21, increasing his stake to 51,676 shares, signaling confidence in the company's long-term prospects.
4. Outlook and Strategic Moves
Badger Meter plans to acquire UDlive to expand software offerings and increase recurring revenue, which management believes will drive growth once new water infrastructure projects commence.