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>Albemarle Corporation's Q3 2024 earnings demonstrated strong execution with volumetric growth in its Energy Storage division and year-over-year EBITDA growth in its Specialties and Ketjen segments.</li><li>The company's liquidity and leverage metrics are strong, with Albemarle maintaining leverage well below covenant limits and demonstrating operating cash conversion of over 100%.</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>

Albemarle Corporation's Q3 2024 earnings demonstrated strong execution with volumetric growth in its Energy Storage division and year-over-year EBITDA growth in its Specialties and Ketjen segments.The company's liquidity and leverage metrics are strong, with Albemarle maintaining leverage well below covenant limits and demonstrating operating cash conversion of over 100%.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.

Albemarle Corporation: Will Its Volume Growth & Asset Utilization Help Bring A Shift In The Competitive Dynamics? - Major Drivers

<ul><li>Albemarle Corporation's Q2 2024 earnings reveal a mix of operational successes and challenges reflective of the broader industry landscape.</li><li>During the quarter, the company reported net sales of $1.4 billion, a substantial decrease from $2.4 billion a year prior, primarily due to decreased pricing.</li><li>The loss attributable to Albemarle stood at $188 million, reflecting a significant downturn from profitability, with a diluted loss per share of $1.96.</li></ul>

Albemarle Corporation's Q2 2024 earnings reveal a mix of operational successes and challenges reflective of the broader industry landscape.During the quarter, the company reported net sales of $1.4 billion, a substantial decrease from $2.4 billion a year prior, primarily due to decreased pricing.The loss attributable to Albemarle stood at $188 million, reflecting a significant downturn from profitability, with a diluted loss per share of $1.96.

Albemarle Corporation: These Are The 7 Factors Driving Our 'Buy' Rating! - Financial Forecasts

<ul><li>Albemarle Corporation's first quarter earnings of 2024 revealed a net sales of $1.4 billion and adjusted EBITDA of $291 million.</li><li>Despite the decline of 47% year-over-year, which was caused largely by reduced prices, the firm experienced volumetric growth led by the energy storage segment.</li><li>The firm also confirmed its ability to navigate the market dynamism and confirmed delivery of over $9 million in productivity and restructuring cost savings, as part of efforts geared towards aligning costs with the current market situation.</li></ul>

Albemarle Corporation's first quarter earnings of 2024 revealed a net sales of $1.4 billion and adjusted EBITDA of $291 million.Despite the decline of 47% year-over-year, which was caused largely by reduced prices, the firm experienced volumetric growth led by the energy storage segment.The firm also confirmed its ability to navigate the market dynamism and confirmed delivery of over $9 million in productivity and restructuring cost savings, as part of efforts geared towards aligning costs with the current market situation.

Albemarle Corporation: A Tale Of  Expansion of New Facilities and Margin Recovery! - Major Drivers

<ul><li>Albemarle Corporation's 2023 earnings reported net sales of $9.6 billion, a 31% rise compared to 2022 with volume growth contributing 21% to the increase.</li><li>The energy storage sector delivered 35% volumetric growth.</li><li>The corporation's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2023 were $2.8 billion or $3.4 billion, excluding a lower-cost charge recorded in Q4.</li></ul>

Albemarle Corporation's 2023 earnings reported net sales of $9.6 billion, a 31% rise compared to 2022 with volume growth contributing 21% to the increase.The energy storage sector delivered 35% volumetric growth.The corporation's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2023 were $2.8 billion or $3.4 billion, excluding a lower-cost charge recorded in Q4.

Albemarle Corporation: Is The EV Demand Actually Flattening & Impacting Their Performance? - Major Drivers

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/allkem-ltd" target="_blank" data-smartkarma-citation="entities:3572:1" rel="noopener">Allkem Ltd (AKE AU)</a> saw its last day of trading on 21 December. There was large volume at the close as one major index provider gave it the boot. </li>
<li>Another delayed their treatment at the last minute, and eliminated a cross-flow.</li>
<li>But there is still a lot of net buy flow tomorrow (3 Jan) and the next day in the US. Perhaps more than I expected. </li>
</ul>



Allkem Ltd (AKE AU) saw its last day of trading on 21 December. There was large volume at the close as one major index provider gave it the boot. 
Another delayed their treatment at the last minute, and eliminated a cross-flow.
But there is still a lot of net buy flow tomorrow (3 Jan) and the next day in the US. Perhaps more than I expected. 


Allkem + Livent = Arcadium : Updated Expected Index Flows

United States

Albemarle Corporation produces specialty and fine chemicals.  The Company's chemicals are additives to or intermediates for plastics, polymers and elastomers, cleaning products, agricultural compounds, pharmaceuticals, photographic chemicals, drilling compounds, and biocides.  Albemarle produces the majority of its products in the United States.

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Albemarle Corp (ALB US)

Albemarle Corporation: Will Its Volume Growth & Asset Utilization Help Bring A Shift In The Competitive Dynamics? - Major Drivers

Albemarle Corporation's Q3 2024 earnings demonstrated strong execution with volumetric growth in its Energy Storage division and year-over-year...

Baptista Research

Albemarle Corporation: These Are The 7 Factors Driving Our 'Buy' Rating! - Financial Forecasts

Albemarle Corporation's Q2 2024 earnings reveal a mix of operational successes and challenges reflective of the broader industry landscape. During...

Baptista Research

Albemarle Corporation: A Tale Of Expansion of New Facilities and Margin Recovery! - Major Drivers

Albemarle Corporation's first quarter earnings of 2024 revealed a net sales of $1.4 billion and adjusted EBITDA of $291 million. Despite the...

Baptista Research

Albemarle Corporation: Is The EV Demand Actually Flattening & Impacting Their Performance? - Major Drivers

Albemarle Corporation's 2023 earnings reported net sales of $9.6 billion, a 31% rise compared to 2022 with volume growth contributing 21% to the...

Baptista Research

Allkem + Livent = Arcadium : Updated Expected Index Flows

Flows for Livent-become-Arcadium Lithium over the next 3 days are relatively prodigious. This comes from upweights in US indices not matched by...

Travis Lundy

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