Badger Meter Set to Announce Q3 2024 Earnings with Positive Projections
Badger Meter, Inc. (BMI) will release its third-quarter 2024 earnings report before the market opens on October 17.
Stay current with all quarterly releases: See Zacks Earnings Calendar.
Positive Financial Estimates for Badger Meter
The Zacks Consensus Estimate for revenues stands at $209.01 million, reflecting a year-over-year growth of 12.3%. Additionally, the earnings consensus is expected to be $1.02 per share, marking a 15.9% increase from last year. Over the past 60 days, analysts have raised their earnings estimates for Badger Meter by 2%.
Historic Performance and Market Reaction
In the previous four quarters, Badger Meter consistently exceeded the Zacks Consensus Estimate, with an average surprise of 12.9%. Over the past year, its shares increased by 64.9%, while the sub-industry rose by 21.7%.
Anticipating Earnings Success for BMI
Our earnings model suggests that BMI is likely to outperform expectations again. A favorable Earnings ESP score of +3.45%, combined with a Zacks Rank of #2 (Buy), enhances the probability of a positive earnings surprise.
Factors Influencing Badger Meter’s Q3 Earnings
Demand for innovative smart water solutions, such as E-Series ultrasonic meters and ORION Cellular endpoints, is expected to drive BMI’s revenue growth. Water industry trends are contributing to the increased necessity for advanced digital water solutions. In the last quarter, utility water sales rose by 26% due to strong demand.
The launch of the BlueEdge platform in May 2024 is also likely to support revenue growth. This platform integrates water technology, software, and services to improve customer experience in water management.
Badger Meter is actively focusing on expanding its presence in select international markets that present promising growth opportunities. This strategy is expected to bolster its market share in water-related sectors.
Acquisitions also play a role in BMI’s growth. The purchase of remote water monitoring solutions from Trimble, including the Telog brand and Trimble Unity Remote Monitoring software, this year, is anticipated to positively affect revenue.
However, management has indicated that the second half of the year may present tougher year-over-year comparisons, higher expenses, and challenges related to global economic uncertainty, currency fluctuations, and increasing competition.
Other Earnings Contenders to Watch
Here are a few additional stocks that might also surpass estimates this earnings season, demonstrating a favorable combination of growth indicators.
Equifax (EFX) is set to report on October 16, with an Earnings ESP of +1.56% and a Zacks Rank of #2. The projections for earnings and revenues are $1.84 per share and $1.44 billion, respectively, showcasing a 58.5% gain in share price over the past year.
Netflix (NFLX) has an Earnings ESP of +1.37% and Zacks Rank #2, with results due on October 17. The expected earnings and revenue for the quarter are $5.07 per share and $9.77 billion, respectively, alongside a remarkable 100.3% rise in shares over the last year.
Abbott Laboratories (ABT), set to report on October 16, holds an Earnings ESP of +0.18% and a Zacks Rank #2. The consensus expects earnings of $1.20 per share on revenues of $10.56 billion, with shares up 25.9% over the past year.
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Abbott Laboratories (ABT): Free Stock Analysis Report
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Badger Meter, Inc. (BMI): Free Stock Analysis Report
Equifax, Inc. (EFX): Free Stock Analysis Report
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