A maker of water meters and flow-measurement devices, Badger Meter builds the meters that track water use in homes, businesses, and utilities, including smart metering systems that read usage remotely. Founded in 1905 in Milwaukee, Wisconsin, the company takes its name from the state's nickname, the Badger State. Its products include the Recordall line of residential meters and the ORION smart-metering network.
Badger Meter amends and extends $150M credit facility to July 2031
On June 5, 2026, Badger Meter, Inc. amended and extended its $150 million multi-currency revolving credit facility, with a new maturity date of July 8, 2031.
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No amounts were outstanding under the facility as of the filing date, before or after the amendment.
Borrowings will bear interest at Term SOFR, Adjusted EURIBO, or Daily Simple SONIA plus 87.5 basis points, depending on currency.
The facility includes financial covenants: a maximum Consolidated Net Debt to EBITDA ratio of 3.00 to 1.00, and a minimum EBITDA to cash interest expense ratio of 3.00 to 1.00.
The Company may temporarily increase the maximum leverage ratio to 3.50 to 1.00 for four consecutive quarters, up to two times in any five-year period, for material acquisitions.
1.01 Entry into a Material Definitive Agreement · 1.02 Termination of a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits
Badger Meter holds 2026 Investor Day, presenting strategy and financial framework.
The presentation was furnished under Item 7.01 Regulation FD Disclosure and is attached as Exhibit 99.1.
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Badger Meter, Inc. held its 2026 Investor Day on May 21, 2026, in New York City and via webcast.
Key speakers included CEO Ken Bockhorst, CFO Dan Weltzien, and other executives, covering topics such as municipal water solutions, software, and financial framework.
The company highlighted its 2025 sales of $917 million, 17% CAGR from 2020-2025, and 24% EBITDA margin.
The presentation included forward-looking statements and non-GAAP financial measures, with reconciliations referenced.
The information is furnished, not filed, and not incorporated by reference into SEC filings.
7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Badger Meter amends bylaws and holds 2026 annual meeting, electing directors and ratifying auditor.
On April 24, 2026, Badger Meter's Board approved an amended and restated set of By-laws, effective immediately, covering remote meetings, shareholder proposal deadlines, and proxy solicitation rules.
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Shareholders at the 2026 Annual Meeting elected all nine director nominees, with votes for ranging from 23,205,574 to 23,662,974.
The advisory vote on executive compensation passed with 22,296,318 votes for and 1,414,098 against.
Shareholders ratified Ernst & Young LLP as independent auditor with 24,023,182 votes for and 1,384,881 against.
The Board set committee assignments effective April 24, 2026, with Glen E. Tellock continuing as Lead Outside Director.
5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year · 5.07 Submission of Matters to a Vote of Security Holders · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Badger Meter Q1 2026 sales fell 9% to $202.3M; EPS down to $0.93
Total sales for Q1 2026 were $202.3 million, down 9% from $222.2 million in Q1 2025.
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Operating earnings were $35.2 million with a 17.4% margin, compared to $49.4 million and 22.2% in the prior year.
Diluted EPS was $0.93, down from $1.30 in Q1 2025.
The company entered a definitive agreement to acquire UDlive, a UK-based sewer line monitoring software provider, expected to close at the end of April 2026.
Management expects revenue to improve sequentially and full-year revenue, excluding acquisitions, to be relatively flat versus 2025.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Badger Meter announces four officer appointments and amended executive employment agreements, effective January 1, 2026.
Robert A. Wrocklage, current SVP & CFO, appointed Executive Vice President – North America Municipal Utility, effective January 1, 2026, with base salary increased to $550,000, target bonus at 80% of base, and 2026 LTIP target value of $800,000.
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Daniel R. Weltzien, current VP – Controller and Treasurer, appointed Vice President – Chief Financial Officer and Treasurer, effective January 1, 2026, with base salary increased to $390,000, target bonus at 65% of base, and 2026 LTIP target value of $450,000.
Kimberly K. Stoll, current VP – Sales and Marketing, appointed Vice President – Customer Support and General Manager - SmartCover, effective January 1, 2026, with base salary increased to $340,000, target bonus at 55% of base, and 2026 LTIP target value of $250,000.
Christina M. Tarantino, current Senior Director – Accounting, appointed Vice President – Controller, effective January 1, 2026, with base salary increased to $245,000, target bonus at 40% of base, and 2026 LTIP target value of $150,000.
The company entered into amended and restated Key Executive Employment Agreements (KEESAs) with executive officers, providing severance multiples of three times (CEO) and two times (other executives) annual cash compensation upon qualifying termination after a change-in-control.
Earnings8-K
Badger Meter reports Q3 2025 sales up 13% to $235.7M, EPS up 10% to $1.19
Total sales for Q3 2025 were $235.7 million, a 13% increase from $208.4 million in the prior year quarter.
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Operating earnings rose 13% to $46.1 million, with operating margin of 19.6% versus 19.5% a year ago.
Diluted EPS increased 10% to $1.19 from $1.08 in the prior year quarter.
Cash provided by operations was $51.3 million in the quarter.
The company raised its normalized gross margin range to 39-42% and expects high-single-digit average top-line growth over its five-year horizon.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits