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

Boston Beer Company Inc A / Equity Bottom-Up

<ul><li>The Boston Beer Company recently disclosed its financial results for the third quarter of 2024.</li><li>The earnings call provided a comprehensive review of both operational performance and strategic adjustments aimed at improving long-term outcomes.</li><li>Positively, Boston Beer Company has shown resilience by maintaining stable price increases amidst a fluctuating market, achieving a 2% rise, which aligns with the higher end of prior forecasts.</li></ul>

The Boston Beer Company recently disclosed its financial results for the third quarter of 2024.The earnings call provided a comprehensive review of both operational performance and strategic adjustments aimed at improving long-term outcomes.Positively, Boston Beer Company has shown resilience by maintaining stable price increases amidst a fluctuating market, achieving a 2% rise, which aligns with the higher end of prior forecasts.

The Boston Beer Company Inc.: Leveraging Innovation For Competitive Edge & Market Share Expansion! - Major Drivers

<ul><li>Boston Beer Company's second-quarter 2024 earnings reflected a mixed performance amid shifting market dynamics and consumer preferences.</li><li>The company, widely recognized for its innovative approach and diversified portfolio, reported a 4% decline in depletions and a 6.4% decrease in shipments compared to the previous year.</li><li>This was primarily attributed to declines in the Truly Hard Seltzers segment, which could not be wholly offset by growth in Twisted Tea and Sun Cruiser brands.</li></ul>

Boston Beer Company's second-quarter 2024 earnings reflected a mixed performance amid shifting market dynamics and consumer preferences.The company, widely recognized for its innovative approach and diversified portfolio, reported a 4% decline in depletions and a 6.4% decrease in shipments compared to the previous year.This was primarily attributed to declines in the Truly Hard Seltzers segment, which could not be wholly offset by growth in Twisted Tea and Sun Cruiser brands.

The Boston Beer Company Inc.: An Analysis Of Their Competitive Positioning & Major Growth Drivers! - Financial Forecasts

<ul><li>The Boston Beer Company presented its financial and performance metrics for the first quarter of 2024.</li><li>The company reported flat depletions, signifying that sales volume remained constant, which along with other favorable factors led to a revenue increase of 3.9%.</li><li>This growth was primarily driven by the success of Twisted Tea, which experienced a 21% increase in dollar sales and gained additional market share.</li></ul>

The Boston Beer Company presented its financial and performance metrics for the first quarter of 2024.The company reported flat depletions, signifying that sales volume remained constant, which along with other favorable factors led to a revenue increase of 3.9%.This growth was primarily driven by the success of Twisted Tea, which experienced a 21% increase in dollar sales and gained additional market share.

The Boston Beer Company Inc.: Does It Have A Sustainable Competitive Advantage? - Major Growth Drivers

<ul><li>The Boston Beer Company's Fourth Quarter 2023 Earnings revealed an operational performance meeting the midpoint of their forecast, with depletions down by 6% for the year and gross margins achieving an improvement of 120 basis points.</li><li>However, net loss for the quarter indicated challenges, standing at $18.1 million, or $1.49 per diluted share.</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 Boston Beer Company's Fourth Quarter 2023 Earnings revealed an operational performance meeting the midpoint of their forecast, with depletions down by 6% for the year and gross margins achieving an improvement of 120 basis points.However, net loss for the quarter indicated challenges, standing at $18.1 million, or $1.49 per diluted share.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.

The Boston Beer Company Inc.: Initiation Of Coverage - Is Its Positioning In The Hard Seltzer Market Its Biggest Competitive Advantage? - 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>Charts have not changed much from the prior week, with there actually being some deterioration within banks (KRE, KBE). </li>
<li>The $SPX has been unable to sustain a breakout above its 200-day MA/YTD downtrend, the $IWM remains below $190 resistance, and the DJIA could not sustain a breakout above 34,280</li>
<li>As long as these indexes are below these levels, we continue to see this as a good time to shift to more defensive areas and/or take profits.</li>
</ul>


Charts have not changed much from the prior week, with there actually being some deterioration within banks (KRE, KBE). 
The $SPX has been unable to sustain a breakout above its 200-day MA/YTD downtrend, the $IWM remains below $190 resistance, and the DJIA could not sustain a breakout above 34,280
As long as these indexes are below these levels, we continue to see this as a good time to shift to more defensive areas and/or take profits.


Failed Breakouts, Banks Crumbling -- Get Defensive; Buy Ideas Within Consumer Staples

United States

The Boston Beer Company, Inc. produces a variety of craft-brewed beers and cider products at various contract breweries and Company-owned breweries.  The Company sells its products under brand names such as Boston Beer Company, Oregon Beer and Brewing Company, Samuel Adams, and HardCore.  Boston Beer sells its products to a network of wholesale distributors.

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Boston Beer Company Inc A (SAM US)

The Boston Beer Company Inc.: An Analysis Of Their Competitive Positioning & Major Growth Drivers! - Financial Forecasts

Boston Beer Company's second-quarter 2024 earnings reflected a mixed performance amid shifting market dynamics and consumer preferences. The...

Baptista Research

The Boston Beer Company Inc.: Does It Have A Sustainable Competitive Advantage? - Major Growth Drivers

The Boston Beer Company presented its financial and performance metrics for the first quarter of 2024. The company reported flat depletions,...

Baptista Research

The Boston Beer Company Inc.: Initiation Of Coverage - Is Its Positioning In The Hard Seltzer Market Its Biggest Competitive Advantage? - Major Drivers

The Boston Beer Company's Fourth Quarter 2023 Earnings revealed an operational performance meeting the midpoint of their forecast, with depletions...

Baptista Research

Failed Breakouts, Banks Crumbling -- Get Defensive; Buy Ideas Within Consumer Staples

$SPX unable to sustain a breakout above 200-day MA/YTD downtrend, $IWM remains below $190 resistance, $DJI could not sustain a breakout above...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Boston Beer Company Inc.: Leveraging Innovation For Competitive Edge & Market Share Expansion! - Major Drivers

The Boston Beer Company recently disclosed its financial results for the third quarter of 2024. The earnings call provided a comprehensive review...

Baptista Research

The Boston Beer Company Inc.: An Analysis Of Their Competitive Positioning & Major Growth Drivers! - Financial Forecasts

Boston Beer Company's second-quarter 2024 earnings reflected a mixed performance amid shifting market dynamics and consumer preferences. The...

Baptista Research

The Boston Beer Company Inc.: Does It Have A Sustainable Competitive Advantage? - Major Growth Drivers

The Boston Beer Company presented its financial and performance metrics for the first quarter of 2024. The company reported flat depletions,...

Baptista Research

The Boston Beer Company Inc.: Initiation Of Coverage - Is Its Positioning In The Hard Seltzer Market Its Biggest Competitive Advantage? - Major Drivers

The Boston Beer Company's Fourth Quarter 2023 Earnings revealed an operational performance meeting the midpoint of their forecast, with depletions...

Baptista Research

Failed Breakouts, Banks Crumbling -- Get Defensive; Buy Ideas Within Consumer Staples

$SPX unable to sustain a breakout above 200-day MA/YTD downtrend, $IWM remains below $190 resistance, $DJI could not sustain a breakout above...

Vermilion Research