Badger Meter, Inc. (NYSE:BMI) Q2 2023 Earnings Conference Call July 20, 2023 11:00 AM ET

Company Participants

Karen Bauer - VP of IR, Corporate Strategy and Treasurer

Ken Bockhorst - Chairman, President and CEO

Bob Wrocklage - CFO

Conference Call Participants

Nathan Jones - Stifel

Andrew Krill - Deutsche Bank

Rob Mason - Baird

Operator

Ladies and gentlemen, welcome to the Second Quarter 2023 Badger Meter Earnings Conference Call. All lines will be muted during the presentation portion of the call, with an opportunity for questions and answers at the end. [Operator Instructions] As a reminder, today's conference is being recorded.

It is now my pleasure to turn the conference over to Karen Bauer, Vice President of Investor Relations, Corporate Strategy and Treasurer. Please go ahead.

Karen Bauer

Good morning, and thank you for joining the Badger Meter second quarter 2023 earnings conference call. On the call with me today are Ken Bockhorst, Chairman, President and Chief Executive Officer; and Bob Wrocklage, Chief Financial Officer. The earnings release and related slide presentation are available on our website.

Quickly, I will cover the safe harbor, reminding you that any forward-looking statements made during this call are subject to various risks and uncertainties, the most important of which are outlined in our press release and SEC filings. On today's call, we will refer to certain non-GAAP financial metrics. Our earnings slides provide a reconciliation of the GAAP to non-GAAP financial metrics used.

With that, I'll turn the call over to Ken.

Ken Bockhorst

Thanks, Karen, and thank you for joining our second quarter earnings call. We were very pleased with our second quarter performance, delivering an all-time record revenue quarter, strong operating profit margin improvement and 33% EPS growth year-over-year. Demand levels remain resilient with a book-to-bill, again, above 1. I want to thank our global Badger Meter team for their efforts once again delivering exceptional execution and support of our customers.

We published our 2022 sustainability report a few weeks ago, and I'll highlight key elements of our ESG progress in addition to providing an update on the macro environment and market outlook later in the call.

For now, I'll turn it over to Bob to go through the details of the quarter.

Bob Wrocklage

Thanks, Ken, and good morning, everyone. Turning to Slide four. Our total sales in the second quarter were $175.9 million, an increase of 28% compared to the $137.8 million in the same period last year, representing another all-time record sales quarter for Badger Meter.