Filing Flows › Badger Meter (BMI) › Q2 2026
Badger Meter (BMI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 23, 2026
Badger Meter (BMI) reported revenue of $222M for the second quarter 2026 (Q2 2026), -7% from a year earlier and +10% from the quarter before. Operating margin was 17.7%, net earnings $29.7M (13.4% of revenue).
Badger Meter, Q2 2026: revenue $222M (-7% year over year), operating margin 17.7%, net earnings $29.7M, operating cash flow $26.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $222M | +10% | -7% |
| Gross profit | $90.8M | +8% | -7% |
| Operating profit | $39.4M | +12% | -12% |
| Net earnings | $29.7M | +9% | -14% |
| Operating cash flow | $26.7M | -21% | -40% |
| Free cash flow | $21.9M | -26% | -46% |
What changed
Revenue was $222.3M in Q2 2026, down 7% year over year and up 10% from the previous quarter.
Gross margin was 40.8%, down 0.3 points from Q2 2025. Operating profit was $39.4M, a 17.7% margin (down 1.1 points year over year). Operating expenses fell 3% while revenue fell 7%. Net earnings were $29.7M, down 14% year over year. The effective tax rate was 25.2%.
Operating cash flow was $26.7M (down 40% year over year), 90% of net earnings. Non-cash charges added back $2.8M of depreciation and $3.2M of share-based compensation. Working capital and other items used $9.0M. Capital expenditures of $4.8M left free cash flow of $21.9M.
Questions
What was Badger Meter's revenue in the second quarter 2026?
Badger Meter (BMI) reported revenue of $222M for the second quarter 2026 (Q2 2026), -7% from a year earlier and +10% from the quarter before.
Was Badger Meter profitable in the second quarter 2026?
Operating profit was $39.4M (17.7% of revenue) and net earnings $29.7M.
Source: Badger Meter 10-Q on SEC EDGAR.