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

Honeywell International / Equity Bottom-Up

<ul><li>In the third quarter of 2024, Honeywell International Inc. demonstrated robust operational execution by exceeding its adjusted earnings per share and segment margin guidance, despite sales falling short of expectations.</li><li>This financial performance comes amid a series of strategic shifts, including senior leadership changes, with Chief Financial Officer Greg Lewis stepping down, and significant M&A activities aimed at reinforcing Honeywell’s focus on its core megatrends of automation, future of aviation, and energy transition.</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>

In the third quarter of 2024, Honeywell International Inc. demonstrated robust operational execution by exceeding its adjusted earnings per share and segment margin guidance, despite sales falling short of expectations.This financial performance comes amid a series of strategic shifts, including senior leadership changes, with Chief Financial Officer Greg Lewis stepping down, and significant M&A activities aimed at reinforcing Honeywell’s focus on its core megatrends of automation, future of aviation, and energy transition.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.

Honeywell International Inc.: Will Their Acquisition of Air Products' LNG Business & Geographical Expansion Be A Game Changer? - Major Drivers

<ul><li>Honeywell International Inc. delivered a mixed performance in its second quarter 2024 earnings, highlighting strengths in certain strategic areas while facing challenges in others.</li><li>The company's earnings per share (EPS) and adjusted EPS exceeded guidance, and it achieved the upper range of its organic sales guidance, reflecting a robust operational execution across its diversified portfolio.</li><li>From a financial perspective, Honeywell saw strong organic growth, particularly in its aerospace sector, which remains a key driver of its overall performance.</li></ul>

Honeywell International Inc. delivered a mixed performance in its second quarter 2024 earnings, highlighting strengths in certain strategic areas while facing challenges in others.The company's earnings per share (EPS) and adjusted EPS exceeded guidance, and it achieved the upper range of its organic sales guidance, reflecting a robust operational execution across its diversified portfolio.From a financial perspective, Honeywell saw strong organic growth, particularly in its aerospace sector, which remains a key driver of its overall performance.

Honeywell International: Portfolio Optimization & Acquisitions With An Emphasis on Long-Cycle Business Growth! - Major Drivers

<ul><li>Honeywell International Inc.'s first-quarter 2024 earnings reveals consistent growth in the company, exceeding its adjusted earning per share guidance and organic sales targets.</li><li>Despite the dynamic macroeconomic environment, the robust execution of Honeywell's Accelerator operating system and the company's diversified technology portfolio has led to significant performance gains.</li><li>With recovery in key areas of Honeywell's short-cycle portfolio and sustained growth in its long-cycle Aerospace and energy businesses, the company demonstrates a positive momentum in its financial results.</li></ul>

Honeywell International Inc.'s first-quarter 2024 earnings reveals consistent growth in the company, exceeding its adjusted earning per share guidance and organic sales targets.Despite the dynamic macroeconomic environment, the robust execution of Honeywell's Accelerator operating system and the company's diversified technology portfolio has led to significant performance gains.With recovery in key areas of Honeywell's short-cycle portfolio and sustained growth in its long-cycle Aerospace and energy businesses, the company demonstrates a positive momentum in its financial results.

Honeywell International: Will Their Improved Performance In Energy and Sustainability Solutions (ESS) Expected To Propel Their Growth? - Major Drivers

<ul><li>The fourth quarter 2023 earnings for Honeywell International took place in a dynamic backdrop; the company delivered on its 2023 commitments despite this.</li><li>Honeywell's Accelerator operating system and differentiated technologies allowed it to meet the full year guidance for organic growth, adjusted earnings per share, and free cash flow.</li><li>As a result of leadership changes, Vimal Kapur, CEO, has been elected to additionally serve as Chairman, starting from June after the current Executive Chairman, Darius Adamczyk, retires.</li></ul>

The fourth quarter 2023 earnings for Honeywell International took place in a dynamic backdrop; the company delivered on its 2023 commitments despite this.Honeywell's Accelerator operating system and differentiated technologies allowed it to meet the full year guidance for organic growth, adjusted earnings per share, and free cash flow.As a result of leadership changes, Vimal Kapur, CEO, has been elected to additionally serve as Chairman, starting from June after the current Executive Chairman, Darius Adamczyk, retires.

Honeywell International - Heavy Investment in Aerospace & Other Futuristic Strategies Propelling Them Forward! - Major Drivers

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Macroeconomics

<ul>
<li>On Election Day, the US faces a Dead Heat. Realclearpolitics predicts a Trump victory, The Economist a narrow Harris win (270-268), similar to fivethirtyeight's tally. Turmoil amid slow counting likely.</li>
<li>A Trump win would be good for conventional energy, banks, PE (via deregulation). Lower oil prices and a 60% tariff on imports from China would benefit Japan, India, Korea, Vietnam. </li>
<li>A Harris win would would be good for housing/property, green energy, semiconductors, negative for equities (as corporate &amp; capital-gains taxes rise) and retailers (anti-price-gouging!). Taiwan, Ukraine, UK, France would gain. </li>
</ul>


On Election Day, the US faces a Dead Heat. Realclearpolitics predicts a Trump victory, The Economist a narrow Harris win (270-268), similar to fivethirtyeight's tally. Turmoil amid slow counting likely.
A Trump win would be good for conventional energy, banks, PE (via deregulation). Lower oil prices and a 60% tariff on imports from China would benefit Japan, India, Korea, Vietnam. 
A Harris win would would be good for housing/property, green energy, semiconductors, negative for equities (as corporate &amp; capital-gains taxes rise) and retailers (anti-price-gouging!). Taiwan, Ukraine, UK, France would gain. 


US: Election Is a Dead Heat, but There'll Be Very Different Winners from Each Outcome

United States

Honeywell International Inc. is a worldwide diversified technology and manufacturing company providing aerospace products and services, control, sensing and security technologies, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions.

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Honeywell International (HON US)

Honeywell International Inc.: Will Their Acquisition of Air Products' LNG Business & Geographical Expansion Be A Game Changer? - Major Drivers

In the third quarter of 2024, Honeywell International Inc. demonstrated robust operational execution by exceeding its adjusted earnings per share...

Baptista Research

Honeywell International: Portfolio Optimization & Acquisitions With An Emphasis on Long-Cycle Business Growth! - Major Drivers

Honeywell International Inc. delivered a mixed performance in its second quarter 2024 earnings, highlighting strengths in certain strategic areas...

Baptista Research

Honeywell International: Will Their Improved Performance In Energy and Sustainability Solutions (ESS) Expected To Propel Their Growth? - Major Drivers

Honeywell International Inc.'s first-quarter 2024 earnings reveals consistent growth in the company, exceeding its adjusted earning per share...

Baptista Research

Honeywell International - Heavy Investment in Aerospace & Other Futuristic Strategies Propelling Them Forward! - Major Drivers

The fourth quarter 2023 earnings for Honeywell International took place in a dynamic backdrop; the company delivered on its 2023 commitments...

Baptista Research

US: Election Is a Dead Heat, but There'll Be Very Different Winners from Each Outcome

RCP predicts a big Trump win, TheEconomist a narrow Harris one. Turnout key for Trump; his win would lower oil prices & hit China, benefitting the...

Prasenjit K. Basu

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