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.

Equity Bottom-Up

<ul><li>In the second quarter of 2024, Schlumberger showcased a strong ability to capitalize on the ongoing growth cycle while driving efficiency throughout its operations.</li><li>The company reported a 5% increase in revenue compared to the first quarter.</li><li>Schlumberger's adjusted EBITDA grew 11%, and its adjusted EBITDA margin expanded 142 basis points.</li></ul>

In the second quarter of 2024, Schlumberger showcased a strong ability to capitalize on the ongoing growth cycle while driving efficiency throughout its operations.The company reported a 5% increase in revenue compared to the first quarter.Schlumberger's adjusted EBITDA grew 11%, and its adjusted EBITDA margin expanded 142 basis points.

Schlumberger Limited: Shift Toward Natural Gas & Offshore Performance Driving Growth! - Major Drivers

Energy Transition | AI | Shifting World Order, Mint Finance

Suhas Reddy

Energy Transition | AI | Shifting World Order

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Schlumberger’s revenue grew 12.9% YoY and beat estimates by 0.7%, while its net profit rose by 7.65% YoY and beat estimates by 2.9%.</li>
<li>Revenue from North America grew 3% sequentially but fell 6% YoY due to lower drilling activity in the US.</li>
<li>Management expects low single-digit sequential revenue growth in Q3 2024 and free cash flow in H2 2024 to be higher than in H1 2024.</li>
</ul>


Schlumberger’s revenue grew 12.9% YoY and beat estimates by 0.7%, while its net profit rose by 7.65% YoY and beat estimates by 2.9%.
Revenue from North America grew 3% sequentially but fell 6% YoY due to lower drilling activity in the US.
Management expects low single-digit sequential revenue growth in Q3 2024 and free cash flow in H2 2024 to be higher than in H1 2024.


[Earnings Review] Schlumberger Beats Estimates as International Operations Shine

<ul>
<li>Schlumberger’s revenue is expected to rise 12.1% YoY and net profit by 15.3% YoY in Q2 2024. Management sees sequential margin growth across divisions.</li>
<li>Q2 growth is expected to be driven by SLB’s International segment, offsetting North American weakness. The International segment contributed 82% of Q1 revenue.</li>
<li>SLB announced plans to increase shareholder returns from USD 2.5 billion to USD 3 billion in 2024 and to USD 4 billion in 2025.</li>
</ul>


Schlumberger’s revenue is expected to rise 12.1% YoY and net profit by 15.3% YoY in Q2 2024. Management sees sequential margin growth across divisions.
Q2 growth is expected to be driven by SLB’s International segment, offsetting North American weakness. The International segment contributed 82% of Q1 revenue.
SLB announced plans to increase shareholder returns from USD 2.5 billion to USD 3 billion in 2024 and to USD 4 billion in 2025.


Schlumberger’s International Strength to Propel Q2 Growth

<ul><li>During Schlumberger’s (SLB) first quarter 2024 earnings, the company's evenue grew by 13% YoY, and EBITDA grew in the mid-teens, in line with SLB’s full-year financial ambitions.</li><li>International activity fuelled the growth, with revenue increases observed in 21 of the 25 international GeoUnits.</li><li>North America, however, showed a decrease in activity, resulting in a 6% YoY fall in revenue.</li></ul>

During Schlumberger’s (SLB) first quarter 2024 earnings, the company's evenue grew by 13% YoY, and EBITDA grew in the mid-teens, in line with SLB’s full-year financial ambitions.International activity fuelled the growth, with revenue increases observed in 21 of the 25 international GeoUnits.North America, however, showed a decrease in activity, resulting in a 6% YoY fall in revenue.

Schlumberger Limited: The ChampionX Acquisition

<ul><li>Schlumberger, the world’s largest oilfield services company, demonstrated its resilience and adaptability with strong financial results for the fourth quarter and full year 2023, despite the challenges posed by the energy market.</li><li>During the quarterly conference call that featured CEO Olivier Le Peuch and CFO Stephane Biguet, the company reported robust revenue growth, increased margins, and indications of a favorable outlook for 2024 and beyond.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Schlumberger, the world’s largest oilfield services company, demonstrated its resilience and adaptability with strong financial results for the fourth quarter and full year 2023, despite the challenges posed by the energy market.During the quarterly conference call that featured CEO Olivier Le Peuch and CFO Stephane Biguet, the company reported robust revenue growth, increased margins, and indications of a favorable outlook for 2024 and beyond.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Schlumberger Limited: Advancements In New Energy Markets & 5 Other Major Drivers

United States

Schlumberger Limited is an oil services company. The Company, through its subsidiaries, provides a wide range of services, including technology, project management and information solutions to the international petroleum industry as well as advanced acquisition and data processing surveys.

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Schlumberger Ltd (SLB US)

Schlumberger Limited: Shift Toward Natural Gas & Offshore Performance Driving Growth! - Major Drivers

In the second quarter of 2024, Schlumberger showcased a strong ability to capitalize on the ongoing growth cycle while driving efficiency...

Baptista Research

[Earnings Review] Schlumberger Beats Estimates as International Operations Shine

Schlumberger beat Q2 estimates due to strong international growth, with significant contributions from the Middle East and Asia. Management...

Mint Finance

Schlumberger’s International Strength to Propel Q2 Growth

International and Aker's subsea operations will drive Q1 growth. SLB expects new subsea bookings to grow 25% YoY to over USD 4 billion in 2024. The...

Mint Finance

Schlumberger Limited: The ChampionX Acquisition

During Schlumberger’s (SLB) first quarter 2024 earnings, the company's evenue grew by 13% YoY, and EBITDA grew in the mid-teens, in line with...

Baptista Research

Schlumberger Limited: Advancements In New Energy Markets & 5 Other Major Drivers

Schlumberger, the world’s largest oilfield services company, demonstrated its resilience and adaptability with strong financial results for the...

Baptista Research

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