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Badger Meter Inc. (BMI-3.49%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing an increase in net sales to $826.6 million from $703.6 million in the previous year. The increase is attributed to strong growth in the utility water market and the adoption of smart water solutions.
Operating earnings for the year were $157.9 million, or 19.1% of sales, compared to $118.0 million, or 16.8% of sales, in the prior year. The increase in earnings was due to higher sales volumes and favorable product mix.
The company reported a net income of $124.9 million, up from $92.6 million in the previous year. Earnings per share were $4.23, compared to $3.14 in the prior year.
Cash provided by operations was $155.0 million, an increase from $110.1 million in the previous year. The increase was driven by higher operating earnings and effective working capital management.
Badger Meter completed the acquisition of Hadronex, Inc., a provider of sewer line and lift station monitoring solutions, for approximately $185 million in cash.
The company continues to focus on expanding its market presence and enhancing its product offerings through strategic acquisitions and investments in research and development.
The report also details the company's efforts in improving operational efficiencies and addressing risks related to supply chain disruptions and cybersecurity threats.
Badger Meter highlights its commitment to sustainability and the development of innovative water management solutions to meet the growing demand for efficient water usage.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Badger Meter Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.