Badger Meter Full-Year Report 2022
- Total sales in 2022 were $565.6 million, an increase of 12% compared to $505.2 million in 2021. Sales into the utility water sector grew 14% illustrating the continued market adoption of smart water advanced metering infrastructure (AMI) solutions, water quality monitoring and BEACON SaaS offerings. Flow instrumentation sales increased 4% over 2021 with its focus on water-related applications.
- Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) of $113.4 million increased 6% year over year, despite unprecedented inflation across input costs and supply chain disruptions that impacted operations. Favorable product mix, higher volumes, and the benefit of pricing actions enabled us to maintain strong EBITDA margins at 20.1%.
- Fiscal 2022 EPS was $2.26, a 9% increase from the $2.08 delivered in 2021.
- We generated free cash flow of $76.6 million, representing 115%) conversion of net earnings into cash due to our strong earnings foundation and solid working capital management. We finished 2022 with $138.1 million of cash and cash equivalents.
