FMP
Thoughts on Badger Meter Following Q3 Results
Oct 21, 2021 1:28 AM - Davit Kirakosyan
Image credit: FMP
Badger Meter, Inc. (NYSE:BMI) reported its Q3 results last week, which were mostly in line with the Street estimates, despite investor concerns over the impact of industry supply chain challenges on margins.
The Water Utility segment faced very tough year-over-year comps and supply challenges, although organic sales still grew around 2%. Strong orders also continued into Q3, and the company exited the quarter with another record backlog. The company’s manufacturing output continues to be limited by supplier shortages of certain electronics, while logistics remain a challenge. While the company managed to offset these pressures with pricing actions and a more favorable mix of products, cost pressures are expected to linger well into 2022.
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