BADGER METER INC
For the period ended Dec 31, 2025. Filed Feb 17, 2026.
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FY2025 · Filed Feb 17, 2026
BMI$159.18+0.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
| Years ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (In thousands except per share amounts) | |||
| Net sales | $916,663 | $826,558 | $703,592 |
| Cost of sales | 534,593 | 497,374 | 427,154 |
| Gross margin | 382,070 | 329,184 | 276,438 |
| Selling, engineering and administration | 198,649 | 171,248 | 158,389 |
| Operating earnings | 183,421 | 157,936 | 118,049 |
| Interest income, net | (5,124) | (8,613) | (4,047) |
| Other pension and postretirement (income) costs | (112) | 49 | 130 |
| Earnings before income taxes | 188,657 | 166,500 | 121,966 |
| Provision for income taxes | 47,023 | 41,558 | 29,368 |
| Net earnings | $141,634 | $124,942 | $92,598 |
| Earnings per share: | |||
| Basic | $4.82 | $4.26 | $3.16 |
| Diluted | $4.79 | $4.23 | $3.14 |
| Shares used in computation of earnings per share: | |||
| Basic | 29,398 | 29,356 | 29,284 |
| Impact of dilutive securities | 171 | 178 | 172 |
| Diluted | 29,569 | 29,534 | 29,456 |
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