Badger Meter, Inc. (NYSE: BMI)

This lawsuit is for anyone who acquired securities in Badger Meter, Inc. (NYSE: BMI) from April 18, 2024 through April 16, 2026.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by concealing declining demand by recognizing revenue earlier than the Company earned the revenue.

On July 22, 2025, Badger Meter released its second quarter 2025 financial results, reporting below-consensus earnings, revenue growth decline, and margin deterioration. The Company also expected that “absolute sales [would] decline sequentially in the third quarter of 2025.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on January 28, 2026, Badger Meter released its fourth quarter 2025 financial results, revealing missed revenue expectations and a “6% sequential decline in utility water sales” due to “previously communicated project pacing effects.” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. Finally, on April 17, 2026, Badger Meter released its first quarter 2026 results, disclosing that total sales were “9% lower than the prior year,” “[u]tility water sales declined 10% year-over-year,” “[o]perating earnings of $35.2 million, with an operating margin of 17.4%, compared to operating earnings of $49.4 million and an operating margin of 22.2% in the prior year,” and “[d]iluted earnings per share (EPS) of $0.93, down from $1.30 in the first quarter of 2025.” The Company cited “project timing” and “softer short-cycle municipal customer ordering.” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Badger Meter, Inc. (NYSE: BMI) from April 18, 2024 through April 16, 2026 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.