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>Louisiana-Pacific Corporation has posted strong results for the second quarter of 2024, demonstrating growth, margin expansion, and effective execution of strategic initiatives.</li><li>The company reported net sales of $814 million, a significant increase of 33% compared to the previous year.</li><li>This growth was predominantly driven by the Siding business, which saw a 30% increase in sales due to both higher volumes and prices.</li></ul>

Louisiana-Pacific Corporation has posted strong results for the second quarter of 2024, demonstrating growth, margin expansion, and effective execution of strategic initiatives.The company reported net sales of $814 million, a significant increase of 33% compared to the previous year.This growth was predominantly driven by the Siding business, which saw a 30% increase in sales due to both higher volumes and prices.

Louisiana-Pacific Corporation: Strategic Market Penetration & Share Gains & Other Major Drivers

<ul><li>Louisiana-Pacific Corporation showcased a robust performance in the first quarter of 2024, notably driven by strong outcomes from both the Siding and OSB (Oriented Strand Board) segments.</li><li>The company recorded sales of $724 million, marking a 24% increase year-over-year, while adjusted EBITDA surged to $182 million, up $116 million from the first quarter of 2023.</li><li>The growth in the Siding segment was particularly notable, with a 9% increase in revenue driven by a compound effect of increased net selling prices and higher volumes.</li></ul>

Louisiana-Pacific Corporation showcased a robust performance in the first quarter of 2024, notably driven by strong outcomes from both the Siding and OSB (Oriented Strand Board) segments.The company recorded sales of $724 million, marking a 24% increase year-over-year, while adjusted EBITDA surged to $182 million, up $116 million from the first quarter of 2023.The growth in the Siding segment was particularly notable, with a 9% increase in revenue driven by a compound effect of increased net selling prices and higher volumes.

Louisiana-Pacific Corporation: Will Their Efforts Towards Optimization of Production and Operational Efficiency Improve The Bottom-Line? - Major Drivers

<ul><li>Louisiana-Pacific Corporation (LP) emerged from 2023 with a much stronger finish than its beginning due to the impressive performance of its Siding business segment in the fourth quarter, which recorded the highest EBITDA margin of the year.</li><li>LP managed to return to normal inventory and order flows after experiencing a destocking cycle in the first half of the year.</li><li>The company ended the year with $222 million in cash and over $770 million in liquidity, demonstrating its strong financial position despite its significant investment in SmartSide and ExpertFinish capacity.</li></ul>

Louisiana-Pacific Corporation (LP) emerged from 2023 with a much stronger finish than its beginning due to the impressive performance of its Siding business segment in the fourth quarter, which recorded the highest EBITDA margin of the year.LP managed to return to normal inventory and order flows after experiencing a destocking cycle in the first half of the year.The company ended the year with $222 million in cash and over $770 million in liquidity, demonstrating its strong financial position despite its significant investment in SmartSide and ExpertFinish capacity.

Louisiana-Pacific Corporation: Initiation Of Coverage - What Is Its Core Business Strategy & The Impact Of Volume Sensitivity? - Major Drivers

High Quality Stock Setups, Weekly Stock Bull Finder

Weekly Stock Bull Finder

High Quality Stock Setups

Finding high potential stock setups on quality companies

Thematic (Sector/Industry)

<ul><li>Energy- Rotation to Laggards or Something More Brewing?</li><li>The worst S&amp;P 500 sector so far in 2023 has been energy which is down almost 8% getting trounced by the technology and communication services sectors.</li><li>Inflation readings have benefited so far by energy “staying in the box” in 2023 versus the wild price spikes to $5/gallon gasoline and above which occurred last spring.</li></ul>

Energy- Rotation to Laggards or Something More Brewing?The worst S&amp;P 500 sector so far in 2023 has been energy which is down almost 8% getting trounced by the technology and communication services sectors.Inflation readings have benefited so far by energy “staying in the box” in 2023 versus the wild price spikes to $5/gallon gasoline and above which occurred last spring.

Managing Director

Elan Gore

TMI Data Science

TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade & traditional media.  Our proprietary software, TMI Machine, is a text-mining platform designed with the buy-side & capital markets professional in mind, text-mining the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income & individual equities.  TMI provides custom leading indicators and systematic trading strategies, operating at the nexus of linguistics & statistics drawing on vast experience in investment banking and hedge fund settings in senior quantitative and fundamental roles.  

TMI Data Science was founded by Elan Gore, an award-winning Senior Global Basic Materials Equity Analyst & China Economist with 15 years of experience in North American hedge funds & institutional managers; and Alessandro Porrino, Ph.D., an Algorithmic Trading Analyst and Programmer with 10 years of front-office experience ranging from complex FX option pricing to auto-hedging strategies at Bank of America Merrill Lynch and Standard Chartered.  Mr. Gore holds an MBA in Finance from New York University Stern School of Business, and Mr. Porrino holds a Ph.D. in Systems Engineering from Brunel University London.

Cross Asset Strategy

<ul>
<li>The strength of US housing has been an unassailable consensus theme coming out of the March-April shock, aided by record-low rates and signs of deurbanization</li>
<li>We text-mine across a range of housing vectors to find greater nuance to the story than headlines imply</li>
<li>Extreme sentiment readings are seen in recent reporting on housing data releases (i.e. existing home sales, housing starts, NAHB); but our text-mined indicators of homebuyer intentions, deurbanization pressure and sales reported above asking price have turned softer</li>
<li>This is partially confirmed by Zillow app store data, which peaked on a Y/Y basis in July and on an absolute basis in August, recently turning roughly flat Y/Y; and by Redfin median square footage comps, which peaked in August</li>
<li>Similarly, our indicator of wood product shortages peaked in September and has stabilized since, in-line with forest products ETF relative performance and wood product pricing</li>
<li>We suspect US housing demand has been losing momentum, but remains at elevated absolute levels</li>
</ul><div class="content-highlight"><p>TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade &amp; traditional media. Our proprietary software text-mines the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income &amp; individual equities. </p></div>


The strength of US housing has been an unassailable consensus theme coming out of the March-April shock, aided by record-low rates and signs of deurbanization
We text-mine across a range of housing vectors to find greater nuance to the story than headlines imply
Extreme sentiment readings are seen in recent reporting on housing data releases (i.e. existing home sales, housing starts, NAHB); but our text-mined indicators of homebuyer intentions, deurbanization pressure and sales reported above asking price have turned softer
This is partially confirmed by Zillow app store data, which peaked on a Y/Y basis in July and on an absolute basis in August, recently turning roughly flat Y/Y; and by Redfin median square footage comps, which peaked in August
Similarly, our indicator of wood product shortages peaked in September and has stabilized since, in-line with forest products ETF relative performance and wood product pricing
We suspect US housing demand has been losing momentum, but remains at elevated absolute levels
TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade &amp; traditional media. Our proprietary software text-mines the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income &amp; individual equities. 

TMI Snapshot: Some US Housing Indicators Lose Momentum as Deurbanization Theme Appears Transitory

United States

Louisiana-Pacific Corporation manufactures building materials and engineered wood products in the United States, Canada, Chile, and Brazil.  The Company's products are used by homebuilders and light commercial builders. Louisiana Pacific's products include oriented strand board sheathing, flooring, radiant barrier panels,  siding and trim, I-joists, and laminated veneer lumber.

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Louisiana Pacific (LPX US)

Louisiana-Pacific Corporation: Will Their Efforts Towards Optimization of Production and Operational Efficiency Improve The Bottom-Line? - Major Drivers

Louisiana-Pacific Corporation showcased a robust performance in the first quarter of 2024, notably driven by strong outcomes from both the Siding...

Baptista Research

Louisiana-Pacific Corporation: Initiation Of Coverage - What Is Its Core Business Strategy & The Impact Of Volume Sensitivity? - Major Drivers

Louisiana-Pacific Corporation (LP) emerged from 2023 with a much stronger finish than its beginning due to the impressive performance of its...

Baptista Research

Weekly Stock Bullfinder - Week of 7/10

The worst S&P 500 sector so far in 2023 has been energy which is down almost 8% getting trounced by the technology and communication services sectors.

Weekly Stock Bull Finder

TMI Snapshot: Some US Housing Indicators Lose Momentum as Deurbanization Theme Appears Transitory

We see potentially peaking momentum in US housing, as data suggests the pandemic-driven deurbanization theme seen as a multi-year secular catalyst...

Elan Gore

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52-week Range

Market Cap (USDm)

P/E

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Louisiana-Pacific Corporation: Strategic Market Penetration & Share Gains & Other Major Drivers

Louisiana-Pacific Corporation has posted strong results for the second quarter of 2024, demonstrating growth, margin expansion, and effective...

Baptista Research

Louisiana-Pacific Corporation: Will Their Efforts Towards Optimization of Production and Operational Efficiency Improve The Bottom-Line? - Major Drivers

Louisiana-Pacific Corporation showcased a robust performance in the first quarter of 2024, notably driven by strong outcomes from both the Siding...

Baptista Research

Louisiana-Pacific Corporation: Initiation Of Coverage - What Is Its Core Business Strategy & The Impact Of Volume Sensitivity? - Major Drivers

Louisiana-Pacific Corporation (LP) emerged from 2023 with a much stronger finish than its beginning due to the impressive performance of its...

Baptista Research

Weekly Stock Bullfinder - Week of 7/10

The worst S&P 500 sector so far in 2023 has been energy which is down almost 8% getting trounced by the technology and communication services sectors.

Weekly Stock Bull Finder

TMI Snapshot: Some US Housing Indicators Lose Momentum as Deurbanization Theme Appears Transitory

We see potentially peaking momentum in US housing, as data suggests the pandemic-driven deurbanization theme seen as a multi-year secular catalyst...

Elan Gore