Welcome to our dedicated page for Badger Mete news (Ticker: BMI), a resource for investors and traders seeking the latest updates and insights on Badger Mete stock.
Badger Meter provides water management solutions built around its BlueEdge suite of smart measurement hardware, communications, data visualization and analytics software, and customer support. Company news commonly covers sales and margin performance, project timing in municipal utility markets, cellular advanced metering infrastructure adoption, Software as a Service revenue, and flow instrumentation activity.
Recurring updates also include capital allocation actions such as quarterly dividends and share repurchase authorizations. Product and portfolio news has included SmartCover sewer monitoring and stormwater management capabilities, which expanded Badger Meter's water-cycle monitoring offering within the BlueEdge portfolio.
The Badger Meter Board of Directors has declared a quarterly cash dividend of $0.18 per share, marking a continued commitment to shareholder returns. Shareholders of record as of November 27, 2020, will receive the dividend payable on December 11, 2020. Badger Meter, a leader in water technology for over a century, provides essential data and analytics that improve operational efficiency and promote sustainable water usage.
Badger Meter (NYSE: BMI) has acquired s::can GmbH for €27 million, enhancing its water quality monitoring capabilities. Founded in 1999, s::can specializes in real-time optical water quality sensing solutions, with 2019 revenues around $15 million. This acquisition aims to address growing global water quality concerns and is expected to provide strategic value by integrating real-time data monitoring into Badger Meter's product offerings. The CEO emphasized the importance of advanced technologies for improving customer service and operational efficiency.
Badger Meter has appointed Sheryl Hopkins as the new Vice President of Human Resources, succeeding Trina Jashinsky, effective September 30, 2020. Hopkins brings over 30 years of global HR leadership experience, having previously served at ADVENT and Runzheimer International. CEO Ken Bockhorst expressed enthusiasm for her appointment, emphasizing her capability to drive talent strategies aligned with the company’s growth goals. Jashinsky is retiring to focus on community charitable endeavors after significantly contributing to Badger Meter's culture and business growth.
Badger Meter reported a strong third quarter for 2020, with sales of $113.6 million, a 5% increase from last year. Municipal water sales surged by 11%, driven by stable order rates and backlog conversions post-COVID-19 disruptions. Net earnings rose to $14.9 million or $0.51 EPS, up from $12.7 million or $0.44 EPS a year ago. Operating profit margins improved by 210 basis points to 17.2%, while cash from operations reached $21 million, strengthening the balance sheet with $94 million in cash. The company plans to continue adapting amid pandemic challenges.
Badger Meter, Inc. (NYSE: BMI) will release its third quarter 2020 earnings on October 16, 2020, before market opening. A conference call will follow at 10:00 AM CT, accessible via the Company's website. Investors can register in advance for the call. Badger Meter specializes in flow measurement and control solutions, providing accurate data to water utilities and commercial customers globally.