Badger Meter's stock plummeted 20.94% during intraday trading on Friday, following the release of its first-quarter 2026 financial results that significantly missed analyst expectations on both earnings and revenue.
The fluid meters manufacturer reported quarterly earnings per share of $0.93, a 28.5% decrease from the $1.30 per share in the prior-year period and well below the consensus estimate of $1.22. Revenue for the quarter declined 9% to $202.3 million, missing the analyst estimate of $230.4 million. The company attributed the weaker results to variability in project timing and softer-than-expected short-cycle municipal customer ordering.
Adding to investor concerns, Badger Meter's CEO indicated that full-year 2026 revenue, excluding acquisitions, is expected to be relatively flat compared to 2025. The company also announced it would acquire UK-based UDlive Limited for $100 million to expand its sewer line monitoring capabilities, though this strategic move was overshadowed by the disappointing quarterly performance.