Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Equity Bottom-Up

Lifevantage Corporation is a health and nutrition company that develops dietary supplements. The Company produces nutritional products that are intended to combat oxidative stress to support brain, eye, and joint function, as well as skin canine products.

<ul><li>LFVN reported 1QFY25 ongoing EPS of $0.15 versus $0.13 in 1QFY24, up 15.4% and in line with our forecast.</li><li>As has been the case recently, sales were below expectations, but that was made up for with better-than- expected margins.</li><li>1QFY25 sales were $47.2 million, a decline of 8.1% Y/Y, and below our forecast of $49.8 million, down 3.0% Y/Y. </li></ul>

LFVN reported 1QFY25 ongoing EPS of $0.15 versus $0.13 in 1QFY24, up 15.4% and in line with our forecast.As has been the case recently, sales were below expectations, but that was made up for with better-than- expected margins.1QFY25 sales were $47.2 million, a decline of 8.1% Y/Y, and below our forecast of $49.8 million, down 3.0% Y/Y. 

LifeVantage Corporation - 1QFY25 EPS in Line on Better Margins

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Mondelez International / Equity Bottom-Up

Mondelez International Inc. is a food and beverage company.  The Company manufactures and markets packaged food products, including snacks, beverages, cheese, convenient meals and various packaged grocery products.  Mondelez International sells its products throughout the world.

<ul><li>Mondelez International, a prominent player in the snacking industry, delivered mixed results in its Third Quarter 2024 earnings report.</li><li>The company reported a strong 5.4% growth in organic net revenue, driven by effective price adjustments and positive volume mix.</li><li>Both developed and emerging markets saw mid-single-digit growth, reflecting a robust performance in North America and steady recovery in Europe, bolstered by strategic pricing activities.</li></ul>

Mondelez International, a prominent player in the snacking industry, delivered mixed results in its Third Quarter 2024 earnings report.The company reported a strong 5.4% growth in organic net revenue, driven by effective price adjustments and positive volume mix.Both developed and emerging markets saw mid-single-digit growth, reflecting a robust performance in North America and steady recovery in Europe, bolstered by strategic pricing activities.

Mondelez International Inc.: How Will Strategic Pricing and Revenue Growth Management Influence Their Future Performance? - Major Drivers

Sysco Corporation distributes food and related products primarily to the foodservice industry.  The Company also distributes personal care guest amenities, housekeeping supplies, room accessories, and textiles to the lodging industry.

<ul><li>Sysco Corporation recently disclosed the financial outcomes for its first quarter of fiscal year 2025, reflecting a complex economic environment coupled with moderate growth.</li><li>This quarter, Sysco reported a total revenue increase of 4.4% to $20.5 billion, supported by a 2.7% rise in U.S. food service volume and moderate inflation.</li><li>The company's adjusted operating income grew by 2.2% and adjusted earnings per share increased by 1.9% to $1.09.</li></ul>

Sysco Corporation recently disclosed the financial outcomes for its first quarter of fiscal year 2025, reflecting a complex economic environment coupled with moderate growth.This quarter, Sysco reported a total revenue increase of 4.4% to $20.5 billion, supported by a 2.7% rise in U.S. food service volume and moderate inflation.The company's adjusted operating income grew by 2.2% and adjusted earnings per share increased by 1.9% to $1.09.

Sysco Corporation: The Story Of Focused Geographic and Market Segment Expansion!  - Major Drivers

Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Research Coverage on Small and Micro-Cap Companies

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

Innovation Beverage Group / Equity Bottom-Up

Innovation Beverage Group Limited operates as a beverage company. The Company develops, manufactures, and exports a growing portfolio of alcoholic and non-alcoholic brands of beverages. Innovation Beverage Group serves customers worldwide.

<ul>
<li>Founded in 2018, Innovation Beverage Group (NASDAQ:IBG) develops, manufactures and markets alcoholic and non-alcoholic beverages domestically in its home market of Australia and internationally, particularly targeting the U.S. market where it has a 100%-owned subsidiary.</li>
<li>Currently its product portfolio spans 60 formulations across 13 premium and super premium brands for which IBG holds exclusive manufacturing rights.</li>
<li>The company’s suite of products includes a broad range of beverages in the alcoholic, non-alcoholic and bitters categories. At the same time, IBG seeks to add new brands and expand the product portfolio, with a general focus on emerging beverage categories.</li>
</ul>


Founded in 2018, Innovation Beverage Group (NASDAQ:IBG) develops, manufactures and markets alcoholic and non-alcoholic beverages domestically in its home market of Australia and internationally, particularly targeting the U.S. market where it has a 100%-owned subsidiary.
Currently its product portfolio spans 60 formulations across 13 premium and super premium brands for which IBG holds exclusive manufacturing rights.
The company’s suite of products includes a broad range of beverages in the alcoholic, non-alcoholic and bitters categories. At the same time, IBG seeks to add new brands and expand the product portfolio, with a general focus on emerging beverage categories.


IBG: Growing Beverage Company Entering Attractive Niches

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

Independent Leading Corporate Governance Research

Metrical Inc

METRICAL INC. is an independent leading Corporate Governance research firm in Japan where Corporate Governance is increasingly recognized as an important element on corporate management in these days. Thus, CG research and solutions would become an essential component of global capital markets and play important to contribute to transparency of the markets and maximize shareholders’ value in Japan. 

METRICAL INC. provides Corporate Governance research and analysis including rating services, and  also offers investment research and IR services with solutions and customized profound research on CG and IR issues.

The TOPIX, also known as the Tokyo Stock Price Index, is a capitalization-weighted index of all companies listed on the First Section of the Tokyo Stock Exchange. The index is supplemented by the subindices of the 33 industry sectors. The index calculation excludes temporary issues and preferred stocks, and has a base value of 100 as of January 4, 1968.

<ul>
<li>The revision of disclosure company lists to “TSE's request” seems aimed at helping companies promote their initiatives without losing heart, rather than presenting updates in clearer terms to institutional investors.</li>
<li>For institutional investors seeking to maximize investment performance among a number of investment targets, companies need estimates of the time taken to realize and the magnitude of the expected returns.</li>
<li>For slow-moving Japanese companies, private equity investment managers, who have longer investment horizons and easier access to a variety of exit strategies, would have a better picture of investment returns.</li>
</ul>


The revision of disclosure company lists to “TSE's request” seems aimed at helping companies promote their initiatives without losing heart, rather than presenting updates in clearer terms to institutional investors.
For institutional investors seeking to maximize investment performance among a number of investment targets, companies need estimates of the time taken to realize and the magnitude of the expected returns.
For slow-moving Japanese companies, private equity investment managers, who have longer investment horizons and easier access to a variety of exit strategies, would have a better picture of investment returns.


Private Equity Investment Managers Are Benefiting the Most from “Revised Disclosure Company List”

Consumer Staples
Insights in the Consumer Staples Space

LifeVantage Corporation - 1QFY25 EPS in Line on Better Margins

LFVN reported 1QFY25 ongoing EPS of $0.15 versus $0.13 in 1QFY24, up 15.4% and in line with our forecast. As has been the case recently, sales were...

Water Tower Research

Mondelez International Inc.: How Will Strategic Pricing and Revenue Growth Management Influence Their Future Performance? - Major Drivers

Mondelez International, a prominent player in the snacking industry, delivered mixed results in its Third Quarter 2024 earnings report. The...

Baptista Research

Sysco Corporation: The Story Of Focused Geographic and Market Segment Expansion! - Major Drivers

Sysco Corporation recently disclosed the financial outcomes for its first quarter of fiscal year 2025, reflecting a complex economic environment...

Baptista Research

IBG: Growing Beverage Company Entering Attractive Niches

Founded in 2018, Innovation Beverage Group (NASDAQ:IBG) develops, manufactures and markets alcoholic and non-alcoholic beverages domestically in...

Zacks Small Cap Research

Private Equity Investment Managers Are Benefiting the Most from “Revised Disclosure Company List”

I would like to discuss the document disclosed by the TSE on September 27, “Measures to Achieve Management Conscious of Cost of Capital and Stock...

Metrical Inc