Badger Meter Shares Fall on 3Q Earnings Miss

Dow Jones10-17

By Don Nico Forbes

Shares of Badger Meter were trading lower after the company reported third-quarter earnings that missed expectations.

Shares were recently down 9% at $199.46.

The manufacturer of flow measurement and control products said profit was $32.04 million, or $1.08 a share, compared with $25.97 million, or 88 cents a share, the previous year.

Analysts were expecting earnings per share of $1.11, according to FactSet.

Sales rose 12% to $208.4 million, but missed analyst views of $212.1 million.

The company added that utility projects in the Southeast of the U.S. could face delays in the near term due to hurricane recovery activities.

Write to Don Nico Forbes at don.forbes@wsj.com

(END) Dow Jones Newswires

October 17, 2024 10:35 ET (14:35 GMT)

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