The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Badger Meter, Inc. (“Badger Meter” or the “Company”) (NYSE: BMI) securities during the period of April 18, 2024 through April 16, 2026, inclusive (“the Class Period”).

If you suffered a loss on your Badger Meter investments, you have until August 3, 2026 to request lead plaintiff appointment. Courts do not consider lead plaintiff applications submitted after this deadline. If you choose to take no action, you may remain an absent class member. For more information about the lawsuit:

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What Is This Lawsuit About? The lawsuit alleges that Badger Meter’s financial results were at least partially attributable to the Company’s practice of pulling forward customer orders to recognize revenue early, which concealed weakening demand and deteriorating near-term order trends. This practice also depleted revenue otherwise available for future periods, ultimately causing the disappointing financial results the Company later reported. However, the Company had previously told investors that Badger Meter’s financial results reflected “ongoing favorable industry trends,” “secular growth drivers,” and “solid operating execution.” They likewise touted “strong” demand and said they were seeing “robust order pacing and a strong bid pipeline that positions us well for continued sales and earnings growth,” and that Badger Meter possessed a “long runway” for growth.

On July 22, 2025, Badger Meter reported disappointing financial results for 2Q 2025, including earnings per share (“EPS”) below consensus estimates, declining revenue growth, deteriorating margins, and warned “we expect absolute sales to decline sequentially in the third quarter of 2025.” The Company said it was “simply the nature of the business” and blamed a gap caused by the completion of certain large advanced metering infrastructure (“AMI”) projects and delays in the start of others while stating “our funnel remains as robust as ever” and that demand softness was “not a concern.” On this news, the price of Badger Meter shares declined by $40.42 per share, or approximately 17%, from $245.22 per share on July 21, 2025 to close at $204.80 on July 22, 2025.

On January 28, 2026, Badger Meter reported disappointing financial results for 4Q 2025, including missed revenue expectations and a “6% sequential decline in utility water sales.” However, the Company continued to blame the poor results on “previously communicated project pacing effects.” On this news, the price of Badger Meter shares declined by $18.09 per share, or approximately 11%, from $164.41 per share on January 27, 2026 to close at $146.32 on January 28, 2026.

Finally, on April 17, 2026, Badger Meter reported disappointing 1Q 2026 financial results including 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 blamed “project timing,” but also disclosed that “softer shortcycle municipal customer ordering” contributed to the disappointing financial results. The Company also revealed that the “variability” in short-cycle demand seen in 1Q 2026 “has always existed, inclusive of [the] 2023 to 2025 time frame” but claimed it was “less visible in the revenue outcomes because of the backlog condition combined with projects in flight.” On this news, the price of Badger Meter shares declined by $36.75 per share, or approximately 24%, from $152.29 per share on April 16, 2026 to close at $115.54 on April 17, 2026.

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The Lead Plaintiff Appointment Process. The federal securities laws permit any investor who acquired eligible securities during the class period to seek appointment as lead plaintiff in a class action lawsuit. Courts typically appoint the investor(s) with the largest financial loss in the case and the ability to represent the class rather than investors with simply the largest investment portfolio. Courts regularly appoint individual investors, whether acting alone or as a group, as lead plaintiffs. The rights of any investor who bought shares during the class period are generally already protected. However, lead plaintiffs have the power to influence case strategy and have a say in settlement decisions, as well as decisions concerning allocation of settlement funds among class members.

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What Should I Do? If you purchased or otherwise acquired Badger Meter securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

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