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>Jacobs Solutions has shared positive financial results in Q2 2024 earnings which saw revenues grow by 5% and an adjusted net revenue climb 3% organically.</li><li>However, gross revenue for the second quarter fell short of expectations resulting in a reach of $281 million for the quarter, including $53 million of amortization from acquired intangibles and $58 million of transaction costs.</li><li>Second quarter consolidated revenue was driven by a 5% growth with backlog up 2% year-over year and gross margin increased approximately 50 basis points year-over-year.</li></ul>

Jacobs Solutions has shared positive financial results in Q2 2024 earnings which saw revenues grow by 5% and an adjusted net revenue climb 3% organically.However, gross revenue for the second quarter fell short of expectations resulting in a reach of $281 million for the quarter, including $53 million of amortization from acquired intangibles and $58 million of transaction costs.Second quarter consolidated revenue was driven by a 5% growth with backlog up 2% year-over year and gross margin increased approximately 50 basis points year-over-year.

Jacobs Solutions: Will The Solid Momentum in the Critical Infrastructure Market Last? - Major Drivers

<ul><li>The Jacobs Fiscal First Quarter 2024 earnings demonstrated several positive and negative aspects for investors to consider.</li><li>Jacobs CEO, Bob Pragada, and CFO, Claudia Jaramillo, illustrated their company's exceptional resilience in face of challenging conditions, delivering better-than-expected underlying performance.</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>

The Jacobs Fiscal First Quarter 2024 earnings demonstrated several positive and negative aspects for investors to consider.Jacobs CEO, Bob Pragada, and CFO, Claudia Jaramillo, illustrated their company's exceptional resilience in face of challenging conditions, delivering better-than-expected underlying performance.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.

<ul><li>Jacobs Solution Inc. delivered a mixed set of results in its most recent quarter with revenues above Wall Street expectations but below-par earnings.</li><li>Emphasizing the strategic synergies and shared operational benefits, the combination aims to be tax-efficient for Jacobs' shareholders, with an estimated $13 billion in annual revenue and significant cost synergies.</li><li>Post-transaction, Jacobs anticipates emerging as a well-capitalized critical infrastructure and sustainability leader, building on the records set in fiscal year 2023 for revenue and free cash flow generation.</li></ul>

Jacobs Solution Inc. delivered a mixed set of results in its most recent quarter with revenues above Wall Street expectations but below-par earnings.Emphasizing the strategic synergies and shared operational benefits, the combination aims to be tax-efficient for Jacobs' shareholders, with an estimated $13 billion in annual revenue and significant cost synergies.Post-transaction, Jacobs anticipates emerging as a well-capitalized critical infrastructure and sustainability leader, building on the records set in fiscal year 2023 for revenue and free cash flow generation.

Jacobs Solutions Inc: 4 Critical Insights From Their Latest Earnings! - Major Drivers

<ul><li>Jacobs Solutions delivered a decent set of quarterly results, marked by substantial gross and adjusted net revenue growth, well above Wall Street expectations.</li><li>Gross income increased, with adjusted net income growing year-over-year.</li><li>Notably, the company's gross margin slightly decreased, primarily due to factors related to PA Consulting.</li></ul>

Jacobs Solutions delivered a decent set of quarterly results, marked by substantial gross and adjusted net revenue growth, well above Wall Street expectations.Gross income increased, with adjusted net income growing year-over-year.Notably, the company's gross margin slightly decreased, primarily due to factors related to PA Consulting.

Jacobs Solutions Inc.: What the Healthy Pipeline Means for Future Growth! - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Over the past two weeks we've discussed the possibility that further downside was limited (4/23/24 Compass) and mounting evidence that suggests the pullback lows may be in (4/30/24 Compass).</li>
<li>Major risk-on developments for the broad equity market have continued to roll in over the past week, which we discuss below.</li>
<li>We continue to believe the lows are in, and we see the pullback to the 100-day MA on the S&amp;P 500 as healthy/normal within the ongoing bull market.</li>
</ul>


Over the past two weeks we've discussed the possibility that further downside was limited (4/23/24 Compass) and mounting evidence that suggests the pullback lows may be in (4/30/24 Compass).
Major risk-on developments for the broad equity market have continued to roll in over the past week, which we discuss below.
We continue to believe the lows are in, and we see the pullback to the 100-day MA on the S&amp;P 500 as healthy/normal within the ongoing bull market.


Major Risk-On Developments; Bullish Outlook Intact; Downgrading Health Care $XLV to Underweight

United States

Jacobs Solutions Inc. provides technical professional services. The Company offers engineering and construction services, as well as scientific and specialty consulting for a broad range of clients including companies, organizations, and government agencies. Jacobs Solutions serves customers worldwide.

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Jacobs Solutions (J US)

Jacobs Solutions: Will The Solid Momentum in the Critical Infrastructure Market Last? - Major Drivers

Jacobs Solutions has shared positive financial results in Q2 2024 earnings which saw revenues grow by 5% and an adjusted net revenue climb 3%...

Baptista Research

Jacobs Solutions: Backlog Increase

The Jacobs Fiscal First Quarter 2024 earnings demonstrated several positive and negative aspects for investors to consider. Jacobs CEO, Bob...

Baptista Research

Jacobs Solutions Inc: 4 Critical Insights From Their Latest Earnings! - Major Drivers

Jacobs Solution Inc. delivered a mixed set of results in its most recent quarter with revenues above Wall Street expectations but below-par...

Baptista Research

Jacobs Solutions Inc.: What the Healthy Pipeline Means for Future Growth! - Major Drivers

Jacobs Solutions delivered a decent set of quarterly results, marked by substantial gross and adjusted net revenue growth, well above Wall Street...

Baptista Research

Major Risk-On Developments; Bullish Outlook Intact; Downgrading Health Care $XLV to Underweight

Major Risk-On Developments; Bullish Outlook Intact $SPX $QQQ $IWM; Downgrading Health Care $XLV to Underweight Despite Still Being Bullish on $XBI....

Vermilion Research

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