Badger Meter Inc. (BMI) experienced a pre-market plunge of 5.50% following the release of its first-quarter 2026 financial results, which fell short of analyst expectations.

The company reported quarterly earnings per share of $0.93, a 28.5% decrease from the prior-year period and significantly below the IBES estimate of $1.22. Net sales for the quarter declined 9% to $202.277 million, missing the consensus estimate of $230.4 million. Net earnings fell 28.8% to $27.335 million, while the operating margin contracted by 4.8 percentage points to 17.4%.

In its report, Badger Meter attributed the weaker results to variability in project timing and weaker-than-anticipated short-cycle order rates. The company also noted it signed a definitive agreement to acquire UK-based UDlive, with closing expected by the end of April 2026, and expects full-year revenue, excluding acquisitions, to be relatively flat versus 2025.