Stock Monitor: Schmitt Industries Post Earnings Reporting
LONDON, UK / ACCESSWIRE / July 24, 2018 / If you want access to our free earnings report on Badger Meter, Inc. (NYSE: BMI), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BMI. Badger Meter reported its second quarter fiscal 2018 operating and financial results on July 18, 2018. The manufacturer of products that measure gas and water flow outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Schmitt Industries, Inc. (NASDAQ: SMIT), which also belongs to the Technology sector as the Company Badger Meter. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Badger Meter most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the quarter ended June 30, 2018, Badger Meter's net sales were a record $113.65 million, reflecting a 9.1% increase from sales of $104.18 million for Q2 2017. This overall increase was due to higher sales in both municipal water and flow instrumentation markets. The Company's reported numbers beat analysts' estimates of $111.4 million.
During Q2 2018, Badger Meter's gross profit margin was 36.5% compared to 39.4% in Q2 2017 as higher healthcare expenses and brass costs continued to provide some headwinds. Additionally, the reported quarter results included a greater mix of lower margin international water meter sales.
For Q2 2018, Badger Meter's selling, engineering, and administration expenses were higher on a y-o-y basis, primarily due to higher healthcare expenses, higher selling costs, and continued investments in research and development (R&D).
Badger Meter reported net earnings of $6.15 million, or $0.21 per diluted share, compared to earnings of $10.61 million, or $0.36 per diluted share, in Q2 2017. The Company's results for the reported quarter included the impact of a non-cash pension settlement charge of $8.20 million, or $0.21 per share, after-tax as the Company continued to terminate its pension plan.
Excluding the non-cash pension settlement charge, Badger Meter's adjusted net earnings were a record $12.29 million, or $0.42 per diluted share, compared to net earnings of $10.61 million, or $0.42 per diluted share, in Q2 2017. The Company's earnings surpassed Wall Street's estimates of $0.40 per share.
Badger Meter's Segment Results
During Q2 2018, the Municipal water sales represented 77.5% of sales compared to 76.8% in Q2 2017 and increased 9.9% to $88 million on a y-o-y basis from $80.1 million in the year earlier same quarter. The increase was due to higher domestic volumes of newer technology meters and related radios as well as increased service revenue.
For Q2 2018, the Flow instrumentation products represented 22.5% of sales compared to 23.2% in Q2 2017. The segment's sales rose 6.2% to $25.6 million from $24 million in the year earlier same quarter. The increase was due to the continued rebound in the oil and gas market and other target markets that we serve.
Stock Performance Snapshot
July 23, 2018 - At Monday's closing bell, Badger Meter's stock ended the trading session flat at $52.55.
Volume traded for the day: 170.31 thousand shares, which was above the 3-month average volume of 129.04 thousand shares.
Stock performance in the last month - up 14.74%; previous three-month period - up 21.50%; past twelve-month period - up 17.56%; and year-to-date - up 9.94%
After yesterday's close, Badger Meter's market cap was at $1.52 billion.
Price to Earnings (P/E) ratio was at 51.52.
The stock has a dividend yield of 0.99%.
The stock is part of the Technology sector, categorized under the Scientific & Technical Instruments industry. This sector was up 0.4% at the end of the session.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia