Badger Meter (NYSE: BMI) reported Q4 EPS of $0.40, $0.02 better than the analyst estimate of $0.38. Revenue for the quarter came in at $104.4 million versus the consensus estimate of $104.17 million.

Fourth Quarter 2018 Highlights

• Net sales for the fourth quarter were $104.4 million, representing an 8.0% increase from sales of $96.7 million in the fourth quarter of 2017.
• GAAP net earnings and diluted earnings per share (EPS) were $11.2 million and $0.39, respectively, compared to $7.2 million and $0.25 in the comparable prior year period.
• Excluding the impact of executive retirement charges, 2018 adjusted EPS was $0.40, representing a 60% increase from EPS of $0.25 in the fourth quarter of 2017.

Outlook

“We see the favorable demand environment continuing as we begin 2019,” stated Bockhorst. “While market demand and our results can be uneven quarter-to-quarter, our backlog is solid and we anticipate ongoing positive customer reception of our proven, innovative technologies. For example, the timeline for introduction of our D-Flow ultrasonic technology into our E-Series® meters remains on track, which provides additional features for our customers while also improving our cost position. In addition, we have begun shipping our new ORION® Cellular radios with LTE-M technology, which puts us ahead of the curve for a seamless transition to 5G networks, while still providing the same level of support for previous generations.”

Bockhorst concluded, “With the leadership transitions announced and in place, we are focused on 2019 and beyond. Our top priority is to preserve the strong legacy of customer focus and innovation that has been the hallmark of Badger Meter for over a century. We will build on our culture of continuous improvement while investing both organically and via acquisition in superior products and services geared at preserving the world’s most precious resource.”

For earnings history and earnings-related data on Badger Meter (BMI) click here.