Vulcan Value Partners Adds Badger Meter to Small-Cap Strategy

ABB has launched AquaMaster+, a digital platform for smart water network management designed to help water utilities in India monitor, analyze and manage their networks, prevent pipeline water losses and optimize operations. The integrated platform combines hardware, advanced software capabilities and cloud-based decision-making tools, and is available to water companies using ABB's AquaMaster4 flowmeters or as a standalone software solution that can be integrated into existing systems. The launch builds on ABB's AquaMaster electromagnetic flowmeters, which mark 20 years in India, growing from a first installation in Bengaluru to nearly 2,000 units across 15 cities in eight states, including Gujarat, Rajasthan, Odisha and Delhi, with Bengaluru alone running some 500 units. AquaMaster+ offers fleet-level insights with GIS mapping as well as device insights covering flow and pressure shifts, device diagnostics and remote configuration, which improves response times and reduces travel costs. Raghu Kumar NV, Global Product Manager in ABB's Measurement & Analytics division, said the platform connects water utilities to crucial flow measurement insights to help the water sector outrun, leaner and cleaner.

Perma-Pipe International Holdings reported second-quarter net sales of $59.6 million, up 24.4% year over year, with backlog reaching $142.3 million as of July 31, up 17% from $121.6 million at the start of the fiscal year on January 31. The company added $67.8 million in new orders during the quarter and pointed to a $900 million pipeline of active quoting and proposal work, while its leak detection unit has locked in 80% of its full-year bookings target. Two new plants are driving the expansion: an Ohio facility aimed at the data center market ramping toward full production in early 2027, and a Qatar plant serving QatarEnergy and regional customers, while Saudi Aramco has qualified a new Perma-Pipe product line for its energy expansion program. The company also signed a memorandum of understanding with Welspun to form a joint venture in Jordan tied to the National Water Carrier Program, and secured a new $90 million credit facility with JPMorgan Chase plus $50 million of additional incremental capacity. Gross margin slipped to 29.2% from 30.1% a year earlier, weighed down by $500,000 in Ohio startup costs and a $3.9 million full write-off of a receivable tied to a single customer's deteriorating finances, while six-month net income attributable to common stock fell to $4.3 million from $5.8 million and total debt rose to $36.1 million from $32.5 million.