Filing Flows › Badger Meter (BMI) › Q3 2026
Badger Meter (BMI) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 23, 2026
Badger Meter (BMI) reported revenue of $236M for the third quarter 2026 (Q3 2026), +0.1% from a year earlier and +6% from the quarter before. Operating margin was 20.2%, net earnings $35.9M (15.2% of revenue).
Badger Meter, Q3 2026: revenue $236M (+0.1% year over year), operating margin 20.2%, net earnings $35.9M, operating cash flow $43.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $236M | +6% | +0.1% |
| Gross profit | $98.8M | +9% | +3% |
| Operating profit | $47.7M | +21% | +4% |
| Net earnings | $35.9M | +21% | +2% |
| Operating cash flow | $43.3M | +62% | -16% |
| Free cash flow | $40.3M | +84% | -16% |
What changed
Revenue was $235.9M in Q3 2026, roughly flat year over year and up 6% from the previous quarter.
Gross margin was 41.9%, up 1.2 points from Q3 2025. Operating profit was $47.7M, a 20.2% margin (up 0.7 points year over year). Of the extra revenue versus Q3 2025, 578% reached operating profit, above the 20% margin then. Operating expenses grew 3% against flat revenue. Net earnings were $35.9M, up 2% year over year. The effective tax rate was 25.1%.
Operating cash flow was $43.3M (down 16% year over year), 121% of net earnings. Non-cash charges added back $2.6M of depreciation and $2.5M of share-based compensation. Working capital and other items added $2.3M. Capital expenditures of $3.0M left free cash flow of $40.3M.
Questions
What was Badger Meter's revenue in the third quarter 2026?
Badger Meter (BMI) reported revenue of $236M for the third quarter 2026 (Q3 2026), +0.1% from a year earlier and +6% from the quarter before.
Was Badger Meter profitable in the third quarter 2026?
Operating profit was $47.7M (20.2% of revenue) and net earnings $35.9M.
Source: Badger Meter 10-Q on SEC EDGAR.