BADGER METER INC
For the period ended Mar 31, 2026. Filed Apr 20, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Apr 20, 2026
BMI$158.18-0.9%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-10-22.
0001193125-25-246630
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-03-31; filed 2026-04-20.
0001193125-26-163625
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 67 previous paragraphs and 60 current paragraphs.
29 unchanged; 27 reworded; 2 added; 7 removed; 4 previous and 2 current paragraphs rearranged.
Tables are not compared: 1 previous and 1 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (2)
Current report
In 2025, the U.S. government implemented a series of trade tariffs on goods imported into the U.S. from various countries. In many cases, these tariffs resulted in reciprocal tariffs and other actions on goods being exported from the U.S. These associated tariffs are complex and continue to evolve as negotiations occur. We evaluate the impact of global tariffs and trade restrictions on our business and operations and leverage our manufacturing footprint, when possible, through the use of the USMCA trade agreement to minimize impact. Additionally, we have enacted certain price increases to offset tariff costs that we are not able to mitigate. In February 2026, a Supreme Court ruling invalidated certain tariffs previously imposed. The Company is currently reviewing and evaluating the opportunity for potential tariff refunds. As the global economic environment, trade and tariff negotiations continue to evolve, the Company will continue to evaluate the exposure and work to mitigate these costs.
Current report
Overall, PWC decreased $13.0 million compared to the previous year-end. Receivables at March 31, 2026 decreased $2.1 million due to timing of shipments and lower sales activity in the first quarter of 2026. The Company believes its receivables balance is fully collectible. Inventories increased $23.3 million due to timing of inventory receipts related to current quarter shipments. Payables as of March 31, 2026 were $34.2 million higher than the prior year-end due to timing of payments and the increase in inventory levels.
Removed paragraphs (7)
Previous report
During 2025, the United States introduced trade policy actions that have increased import tariffs across a wide range of countries at various rates, with certain exemptions such as USMCA-compliant imports. These tariff changes and subsequent retaliatory actions have the potential to increase various input costs for the Company. At present, the Company is managing applicable tariff-related cost burdens with selective supply chain and pricing actions, as has been our historical practice during uncertain and turbulent economic times. The Company has contingency plans in place to adequately respond to a wide range of potential economic scenarios and our management, along with the Board of Directors, continues to monitor and evaluate the ongoing situation.
Previous report
The Company's net sales for the three months ended September 30, 2025 were $235.7 million, an increase of 13.1% compared to $208.4 million during the same period in 2024. Sales into the utility water market were $209.2 million, an increase of 14.3% from the prior year’s $183.0 million. The Company's net sales grew as a result of increased ultrasonic meter, water quality solution and BEACON® SaaS revenues, as well as revenue associated with the acquisition of SmartCover of $11.1 million. Sales of products into the global flow instrumentation end markets were $26.5 million compared to the prior year's $25.4 million, an increase of 4.3%, driven by steady order demand within the water-focused end markets.
Previous report
Results of Operations - Nine Months Ended September 30, 2025
Previous report
Net Sales
Previous report
Earnings
Previous report
Total operating earnings for the nine months ended September 30, 2025 were $140.4 million, or 20.2% of sales, compared to $118.7 million, or 19.1% of sales, in the comparable prior year period. Gross margin dollars increased $42.7 million, with gross margin as a percent of sales of 41.5%, an increase from 39.7% of sales in the prior year comparable period. Gross margin improvement was the result of increased sales volume and favorable product mix partially offset by tariff and other input cost pressures. SEA expenses were $148.7 million or 21.4% of sales compared to $127.7 million or 20.6% of sales in the comparable prior year period. The year-over-year increase in SEA was the result of the inclusion of SmartCover, inclusive of the acquired intangible asset amortization, combined with higher personnel costs including merit increases and incentive compensation.
Previous report
Overall, PWC increased $25.8 million compared to the previous year-end. Receivables at September 30, 2025 increased $30.7 million due to higher sales activity. Inventories increased $9.2 million due to increased sales activity. Payables at September 30, 2025 were $14.1 million higher than prior year-end due to timing of payments and increased inventory levels.
Reworded paragraphs (27)
Previous wording
With more than a century of water technology innovation, Badger Meter is a global provider of industry leading water management solutions, with approximately 95% of net sales derived from water-related applications. The Badger Meter offerings, marketed as BlueEdge TM, are comprised of a suite of tailorable solutions that connect water management technology, software, and support services to deliver insights enabling the proactive management of water across the water cycle. These tailorable solutions encompass measurement and control hardware, connectivity and communication, data visualization and software-delivered actionable insights as well as ongoing support and expertise essential to optimize customers' operations and contribute to the sustainable use and protection of the world’s most precious resource.
Current wording
With more than a century of water technology innovation, Badger Meter is a global provider of industry leading water management solutions, with approximately 95% of net sales derived from water-related applications. Badger Meter's offerings, marketed as BlueEdge®, represent a suite of tailorable solutions that connect water management technology, software, and support services to deliver insights enabling the proactive management of water across the water cycle. These tailorable solutions encompass measurement and control hardware, connectivity and communication, data visualization and software-delivered actionable insights as well as ongoing support and expertise essential to optimize customers' operations and contribute to the sustainable use and protection of the world’s most precious resource.
Previous wording
The Company’s measurement and control hardware, instruments and sensors are primarily comprised of the following product families:
Current wording
The Company’s measurement and control hardware, instruments and sensors primarily include the following product families:
Previous wording
high frequency pressure and acoustic leak detection hardware that provides real-time monitoring data.
Current wording
high frequency pressure and acoustic leak detection hardware that provide real-time monitoring data.
Previous wording
remote sewer monitoring to aid in predicting, detecting and preventing sewer overflow spills and lift station control monitoring and hardware.
Current wording
remote sewer monitoring solutions to aid in predicting, detecting and preventing sewer overflow spills and lift station solutions for monitoring and control.
Previous wording
The Company’s hardware-enabled software provides the insights and analytics critical to the holistic management of our customers’ water systems. These digital solutions increase visibility, empowering customers to monitor system performance and make decisions aiding efficiency, resiliency, and sustainability.
Current wording
The Company’s hardware-enabled software solutions provide insights and analytics critical to the holistic management of our customers’ water systems. These digital solutions increase visibility, empowering customers to monitor system performance and make decisions aiding efficiency, resiliency, and sustainability.
Previous wording
The Company also provides training, project management, technical support and other collaborative services for customers. This support is becoming increasingly critical as customers strive to extract maximum value from their technology investments while managing through workforce demographic changes, among other operating challenges.
Current wording
The Company also provides training, project management, technical support and other collaborative services for customers. This support is becoming increasingly critical as customers strive to extract maximum value from their deployed technology investments while managing workforce demographic changes, infrastructure upgrades, and water loss management, among other operating challenges.
Previous wording
The Company’s solutions fall into two product lines: utility water product line, which includes sales of meters, water quality and sewer monitoring sensors and other hardware, communication, and software and related technologies, to water utilities and flow instrumentation, which includes sales of meters, other sensing instruments, valves, software and other solutions to commercial and industrial customers, including water related applications.
Current wording
The Company’s solutions fall into two product lines:
Previous wording
Utility Water Product Line (approximately 88% of Net Sales in 2024)
Current wording
Utility Water Product Line (approximately 89% of Net Sales in 2025)
Previous wording
Utility water smart metering solutions are comprised of water meters along with the connected radio endpoints and software technologies and services used by water utilities as the basis for generating their water and wastewater revenues, enabling operating efficiencies and engaging with their end consumers. This product line further comprises other instruments and sensors used in the water distribution and collection systems to ensure the safe and efficient delivery and return of water. These sensors are used to detect leaks, monitor various water quality parameters throughout the distribution system and treatment process, and monitor, detect and prevent sewer overflow spills. The largest geographic market in which the Company operates is North America, primarily the United States.
Current wording
Utility water smart metering solutions are comprised of water meters along with the connected radio endpoints and software technologies and services used by water utilities as the basis for generating their water and wastewater revenues, enabling operating efficiencies and engaging with their end consumers. This product line further comprises other instruments and sensors used in the water distribution and collection system to ensure the safe and efficient treatment, delivery and return of water. These sensors are used to detect leaks, monitor various water quality parameters throughout the distribution system and treatment process, and monitor, detect and prevent sewer overflow spills. The largest geographic market in which the Company operates is North America, primarily the United States.
Previous wording
Information, analytics and visualization are critical to the smart water ecosystem. The Company’s BEACON® Software as a Service (SaaS), amongst others, improves utility visibility to their water and water usage. BEACON is a secure, cloud-hosted software suite that includes a customizable dashboard and has the ability to establish alerts for specific conditions. It also enables the deployment of consumer engagement tools that permit end water users (such as homeowners) to view and manage their water usage activity. Benefits to the utility include improved customer service, increased visibility through faster leak detection, the ability to promote and quantify the effects of its water conservation efforts, and easier compliance reporting.
Current wording
Information, analytics and visualization are critical to the smart water ecosystem. The Company’s BEACON® Software as a Service (SaaS), amongst others, improves utility visibility to their water and water usage. BEACON is a secure, cloud-hosted software suite that includes customizable dashboards and established alerts for specific conditions. It also enables the deployment of consumer engagement tools that permit end water users (such as homeowners) to view and manage their water usage activity. Benefits to the utility include improved customer service, increased visibility through faster leak detection, the ability to promote and quantify the effects of its water conservation efforts, and easier compliance reporting.
Previous wording
Water meter replacement and the adoption and deployment of new technologies comprise the majority of smart water product sales, including radio products. To a much lesser extent, housing starts also contribute to sales annually. The industry continues to undergo a conversion from manually read water meters to meters with radio technology, and for AMR systems to be upgraded to digital AMI solutions. The Company estimates that approximately 40% of water meters installed in the United States have been converted to AMI systems.
Current wording
Water meter replacement and the adoption and deployment of new technologies comprise the majority of smart water product sales, including radio products. Housing starts have only a minimal impact on annual sales. The industry continues to undergo a conversion from manually read water meters to meters with radio technology, and for AMR systems to be upgraded to digital AMI solutions. The Company estimates that approximately 40% of water meters installed in the United States have been converted to AMI systems.
Previous wording
In addition, the Company provides various other hardware, instruments and sensors, and related software, to enhance the scope and breadth of connected data valuable to a water utility's operation. This includes water quality monitoring solutions utilizing optical sensors and electrochemical instruments that measure a variety of parameters including turbidity, pH, chlorine, nitrates and approximately 40 others. Utilizing these solutions, water quality can be monitored continually or periodically throughout the network from its original source to the point in which it is recycled and returned. Real-time water quality parameters enhance the scope of actionable data for water utilities to improve operational security, awareness and efficiency. It also includes high frequency pressure and leak detection sensors that provide real-time alarms and event location triangulation to aid operators in responding to burst pipe and other leak events quickly, reducing water loss and system downtime. Additional solutions include sewer and lift station monitoring sensors to measure sewer and hydrogen sulfide levels. This information is provided in real time, allowing utilities to initiate actions to prevent sewer overflows, reduce sewer odor and optimize cleanings, while managing resources and costs. The data and insights collected from these additional operational sensors are often conveyed by cellular or satellite networks and can be leveraged alongside of the metering data within BEACON to unlock powerful insights about the operations of a customer's distribution and collection network.
Current wording
In addition, the Company provides various other hardware, instruments and sensors, and related software, to enhance the scope and breadth of connected data valuable to a water utility's operation. This includes water quality monitoring solutions utilizing optical sensors and electrochemical instruments that measure a variety of parameters including turbidity, pH, chlorine, nitrates and approximately 40 others. Utilizing these solutions, water quality can be monitored continually or periodically throughout the network from its original source to the point in which it is recycled and returned. Real-time water quality parameters enhance the scope of actionable data for water utilities to improve operational security, awareness and efficiency. The Company's solutions also include high frequency pressure and leak detection sensors that provide real-time alarms and event location triangulation to aid operators in responding to burst pipe and other leak events quickly, reducing water loss and system downtime. Additional solutions include sewer and lift station monitoring sensors to measure sewer and hydrogen sulfide levels. The resulting data is provided real time, allowing utilities to initiate actions to prevent sewer overflows, reduce sewer odor and optimize cleanings, while managing resources and costs. The data and insights collected from these additional operational sensors are often conveyed by cellular or satellite networks and can be leveraged alongside the metering data within BEACON or other software platforms to unlock powerful insights about the operations of a customer's distribution and collection network.
Previous wording
The Company’s net sales and corresponding net earnings depend on unit volume and product mix, with the Company generally earning higher average selling prices and margins on meters coupled with radio technology, software, water quality monitoring and on ultrasonic compared to mechanical meters.
Current wording
The Company’s net sales and corresponding net earnings depend on unit volume and product mix, with the Company generally earning higher average selling prices and margins on meters coupled with radio technology, software, water quality monitoring, sewer line and lift station monitoring and on ultrasonic compared to mechanical meters.
Previous wording
Flow Instrumentation Product Line (approximately 12% of Net Sales in 2024)
Current wording
Flow Instrumentation Product Line (approximately 11% of Net Sales in 2025)
Previous wording
Our BlueEdge tailorable smart water solutions provide actionable information through data analytics derived from an interconnected and interoperable network of sensors and devices that enable people and organizations to efficiently use and conserve water. Badger Meter is well positioned to benefit from the adoption of smart water solutions. Our strong relationships with telecommunication providers such as AT&T and Verizon (among others) keep us abreast of emerging cellular technology changes to provide the premier infrastructure-free AMI solution.
Current wording
Our BlueEdge tailorable smart water solutions provide actionable information through data analytics derived from an interconnected and interoperable network of sensors and devices that enable people and organizations to efficiently use and conserve water. Badger Meter is well positioned to benefit from the adoption of smart water solutions. Our strong relationships with telecommunication providers such as AT&T and Verizon (among others) allows us to stay abreast of emerging cellular technology changes to provide the premier infrastructure-free AMI solution.
Previous wording
The total purchase consideration for SmartCover, net of cash acquired, was $184.0 million, following the net working capital adjustment of $0.9 million. The Company's allocation of the purchase price at September 30, 2025 included $6.7 million of receivables, $4.6 million of inventories, $4.8 million of other assets, $85.6 million of intangible assets and $119.8 million of goodwill that is not deductible for tax purposes. The intangible assets acquired are primarily developed technology, customer relationships and trademarks with estimated average useful lives of 12 to 20 years. The Company also assumed $1.6 million of payables, $19.7 million of net deferred income tax liabilities, $12.2 million of deferred revenue and $4.0 million of other liabilities as part of the acquisition. The preliminary allocation of the purchase price to the assets acquired was based upon the estimated fair values at the date of acquisition. As of September 30, 2025, the Company had not completed its analysis for estimating the fair value of the assets acquired. Revenue associated with SmartCover for the eight months ended September 30, 2025 was $27.8 million. SmartCover is reported within the utility water product line and the Company will continue to operate under a single segment.
Current wording
The total purchase consideration for SmartCover, net of cash acquired, was $184.0 million, following the net working capital adjustment of $0.9 million. The Company's allocation of the purchase price at December 31, 2025 included $6.6 million of receivables, $4.5 million of inventories, $4.8 million of other assets, $59.6 million of developed technology intangible assets, $26.0 million of other intangible assets and $118.3 million of goodwill that is not deductible for tax purposes. The intangible assets acquired are primarily developed technology, customer relationships and trademarks with estimated average useful lives of 12 to 20 years. The Company also assumed $1.6 million of payables, $18.3 million of net deferred income tax liabilities, $12.2 million of deferred revenue and $3.7 million of other liabilities as part of the acquisition. The allocation of the purchase price to the assets acquired was based upon the fair values at the date of acquisition. As of December 31, 2025, the Company had completed its analysis for estimating the fair value of the assets acquired. SmartCover is reported within the utility water product line and the Company will continue to operate under a single segment.
Previous wording
increasing expectations for accurate and actionable data and insights. As technologies such as ORION Cellular and BEACON digital solutions have become more widely adopted, the Company’s revenue from Software as a Service (SaaS) has increased significantly, and is margin accretive.
Current wording
As the water industry continues to evolve, the Company has been at the forefront of innovation across measurement hardware (metering, water quality, pressure sensors, sewer monitoring, etc.) and communication and software technologies in order to meet its customers’ increasing expectations for accurate and actionable data and insights. As technologies such as ORION Cellular and BEACON digital solutions have become more widely adopted, the Company’s revenue from SaaS has increased significantly and is margin accretive.
Previous wording
The Company also seeks opportunities for additional revenue enhancement. For instance, the Company has made inroads into select regional markets outside the US such as the Middle East, UK and others with our BlueEdge offering. The Company sometimes oversees and supervises field installation of its products and provides training and other services for certain customers. Strategic mergers and acquisitions are another avenue for profitable sales growth.
Current wording
The Company also seeks opportunities for additional revenue enhancement. For instance, the Company has made inroads into select regional markets outside the U.S. such as the Middle East, U.K. and others with our BlueEdge offering. The Company sometimes oversees and supervises field installation of its products and provides training and other services for certain customers. Strategic mergers and acquisitions are another avenue for profitable sales growth.
Previous wording
The Company's net sales for the nine months ended September 30, 2025 were $696.0 million, an increase of 12.0%, compared to $621.4 million during the same period in 2024. Sales into the utility water product line were $618.7 million, an increase of 13.8% from the prior year’s $543.7 million. Utility water net sales grew as a result of increased metering, water quality solution and BEACON® SaaS revenues, as well as eight months of revenue associated with the acquisition of SmartCover of $27.8 million. Sales of products into the global flow instrumentation end markets were $77.3 million compared to the prior year’s $77.7 million, a decrease of 0.6%.
Current wording
The Company's net sales for the three months ended March 31, 2026 were $202.3 million compared to $222.2 million during the same period in 2025. Net sales into the utility water market were $178.4 million, a decrease of 9.6% from the prior year’s $197.3 million due to project timing dynamics of previously completed project deployments and customer short cycle order pacing, partially offset by BEACON SaaS, SmartCover, water quality and network monitoring product revenue. Sales of products into the global flow instrumentation end markets were $23.9 million compared to the prior year’s $24.9 million, a decrease of 4.1%, with modest growth in water-related markets more than offset by declines in de-emphasized applications.
Previous wording
Total operating earnings for the three months ended September 30, 2025 were $46.1 million, or 19.6% of sales, compared to $40.6 million, or 19.5% of sales, in the comparable prior year quarter. Gross margin dollars increased $12.0 million, with gross margin as a percent of sales of 40.7%, an increase from 40.2% of sales in the prior year comparable quarter. Gross margin improvement in the current year was driven by positive sales mix, including higher SaaS revenues, offset by tariff and input cost pressures. Selling, engineering and administration (“SEA”) expenses were $49.8 million or 21.1% of sales compared to $43.3 million or 20.8% of sales in the comparable prior year quarter. The increase in SEA expenses was mainly the result of the inclusion of SmartCover, inclusive of the acquired intangible asset amortization, combined with higher incentive compensation and personnel-related expenses, offset by deferred compensation benefit driven by the change in our stock price during the quarter.
Current wording
Total operating earnings for the three months ended March 31, 2026 were $35.2 million, or 17.4% of sales, compared to $49.4 million, or 22.2% of sales, in the comparable prior year quarter. Gross margin dollars decreased $11.1 million, with gross margin as a percent of sales of 41.7%, a decrease from 42.9% in the prior year comparable quarter due to lower sales volume and less favorable product mix. Selling, engineering and administration (SEA) expenses were $49.2 million or 24.3% of sales in the first quarter of 2026 compared to $46.0 million or 20.7% of sales in the comparable prior year quarter. The increase in SEA expenses was mainly due to higher personnel costs including higher salaries and benefits, a full quarter of SmartCover SEA expenses and $1.2 million of acquisition related costs partially offset by lower management incentive costs.
Previous wording
The provision for income taxes as a percentage of earnings before income taxes for the quarter ended September 30, 2025 was 26.1% compared to 25.3% for the comparable prior year period. Interim provisions are based on an estimate of the overall annual rate that can vary due to state taxes, the relationship of foreign and domestic earnings, and other credits and allowances.
Current wording
The provision for income taxes as a percentage of earnings before income taxes for the quarter ended March 31, 2026 was 24.8% compared to 24.4% for the comparable prior year period. Interim provisions are based on an estimate of the overall annual rate that can vary due to state taxes, the relationship of foreign and domestic earnings, other credits, allowances and discrete items.
Previous wording
As a result of the above-mentioned items, net earnings for the three months ended September 30, 2025 were $35.1 million, or $1.19 per diluted share, compared to $32.0 million, or $1.08 per diluted share, for the same period in 2024.
Current wording
As a result of the above-mentioned items, net earnings for the three months ended March 31, 2026 were $27.3 million, or $0.93 per diluted share, compared to $38.4 million, or $1.30 per diluted share, for the same period in 2025.
Previous wording
Cash provided by operations in the first nine months of 2025 was $128.9 million compared to $103.0 million in the same period of 2024. Higher net earnings and favorable working capital trends contributed to the increase in cash provided by operations compared to the same period in 2024.
Current wording
Cash provided by operations in the first three months of 2026 was $33.9 million compared to $33.0 million in the same period of 2025. Lower net earnings were offset by increased cash flow from primary working capital balances in 2026 versus 2025, resulting in minimal change in cash from operations.
Previous wording
Property, plant and equipment expenditures for the first nine months of 2025 were $10.0 million compared to $8.1 million in the comparable prior year period.
Current wording
Property, plant and equipment expenditures for the first three months of 2026 were $4.4 million compared to $3.0 million in the comparable prior year period.
Previous wording
Cash and cash equivalents decreased to $201.7 million from $295.3 million at December 31, 2024, the result of the $128.9 million cash provided by operations, offset by the $184.0 million deployed for the SmartCover acquisition and payment of quarterly dividends.
Current wording
Cash and cash equivalents at March 31, 2026 decreased to $205.5 million from $226.0 million at December 31, 2025, the result of the $33.9 million of cash provided by operations, offset by common stock repurchases and payment of the quarterly dividend.
Previous wording
The Company's credit facility includes a $150.0 million multi-currency line of credit that supports commercial paper (up to $100.0 million). The facility includes several features that enhance the Company's financial flexibility including an increase feature, acquisition holiday, and favorable financial covenants. The Company was in compliance with all covenants as of September 30, 2025. The Company believes that its operating cash flows, available borrowing capacity, and its ability to raise capital provide adequate resources to fund ongoing operating requirements, future capital expenditures and the development of new products. The Company had $154.7 million of unused credit lines available at September 30, 2025.
Current wording
The Company's credit facility includes a $150.0 million multi-currency line of credit that supports commercial paper (up to $100.0 million). The facility includes several features that enhance the Company's financial flexibility including an increase feature, acquisition holiday, and favorable financial covenants. The Company was in compliance with all covenants as of March 31, 2026. The Company believes that its operating cash flows, available borrowing capacity, and its ability to raise capital provide adequate resources to fund ongoing operating requirements, future capital expenditures and the development of new products. The Company had $154.6 million of unused credit lines available at March 31, 2026.
Previous wording
The Company is subject to contingencies related to environmental laws and regulations. A future change in circumstances with respect to these specific matters or with respect to sites formerly or currently owned or operated by the Company, off-site disposal locations used by the Company, and property owned by third parties that is near such sites, could result in future costs to the Company and such amounts could be material. Expenditures for compliance with environmental control provisions and regulations during 2024 and the first three quarters of 2025 were not material.
Current wording
The Company is subject to contingencies related to environmental laws and regulations. A future change in circumstances with respect to these specific matters or with respect to sites formerly or currently owned or operated by the Company, off-site disposal locations used by the Company, and property owned by third parties that is near such sites, could result in future costs to the Company and such amounts could be material. Expenditures for compliance with environmental control provisions and regulations during 2025 and the first quarter of 2026 were not material.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
Utility Water - sales of meters, water quality and sewer monitoring sensors and other hardware, communication, and software and related technologies, to water utilities.
Current report — wording carried from elsewhere
Flow Instrumentation - sales of meters, other sensing instruments, valves, software and other solutions to commercial and industrial customers, including water-related applications.
Rearranged previous paragraphs (4)
Previous report — wording carried elsewhere
Effective January 1, 2024, the Company acquired select remote water monitoring hardware and software, inclusive of the Telog® product line and Unity Remote Monitoring software as a service (the "Telog/Unity Assets"). The total purchase consideration for the Telog/Unity Assets was $3.0 million in cash. The allocation of purchase price to the assets acquired was based upon the estimated fair values at the date of acquisition. As of December 31, 2024, the Company had completed its analysis for estimating the fair value of the assets acquired.
Previous report — wording carried elsewhere
As the industry continues to evolve, the Company has been at the forefront of innovation across measurement hardware (metering, water quality, pressure sensors, etc.), radio and software technologies in order to meet its customers’
Previous report — wording carried elsewhere
The provision for income taxes as a percentage of earnings before income taxes for the nine months ended September 30, 2025 was 25.0% compared to 24.2% for the comparable prior year period. Interim provisions are based on an estimate of the overall annual rate that can vary due to state taxes, the relationship of foreign and domestic earnings, and other credits and allowances.
Previous report — wording carried elsewhere
As a result of the above-mentioned items, net earnings for the nine months ended September 30, 2025 were $108.1 million, or $3.65 per diluted share, compared to $94.2 million, or $3.19 per diluted share, for the same period in 2024.