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

Martin Marietta Materials / Equity Bottom-Up

<ul><li>The Q1 2024 earnings for Martin Marietta showed some level of optimism for the company's growth prospects, though the transcript also raises some potential concerns.</li><li>Mr.</li><li>Ward Nye, the CEO, highlighted various positive aspects including steady product demand, favorable commercial dynamics, and recent transactions aimed at optimizing the company's portfolio.</li></ul>

The Q1 2024 earnings for Martin Marietta showed some level of optimism for the company's growth prospects, though the transcript also raises some potential concerns.Mr.Ward Nye, the CEO, highlighted various positive aspects including steady product demand, favorable commercial dynamics, and recent transactions aimed at optimizing the company's portfolio.

Martin Marietta Materials:  Growth Prospects Amidst U.S. Infrastructure Spending Surge! - Major Drivers

<ul><li>Martin Marietta, a provider of aggregates and heavy building materials, presented a decent financial performance for the full year and fourth quarter of 2023.</li><li>Positive elements in the report include the company's record financial performance, reaching a milestone of $2.1 billion in adjusted EBITDA. Additionally, the company noted that it had a successful, safe year without any major incidents.</li><li>This was also underpinned by the strong performance of the company's aggregates business which drove revenues up by over 10% to $4.3 billion.</li></ul>

Martin Marietta, a provider of aggregates and heavy building materials, presented a decent financial performance for the full year and fourth quarter of 2023.Positive elements in the report include the company's record financial performance, reaching a milestone of $2.1 billion in adjusted EBITDA. Additionally, the company noted that it had a successful, safe year without any major incidents.This was also underpinned by the strong performance of the company's aggregates business which drove revenues up by over 10% to $4.3 billion.

Martin Marietta Materials: Expected Improvements In Housing Market Conditions Could Help Them Recover In 2024 & Beyond! - Major Drivers

<ul><li>Martin Marietta Materials delivered a decent quarter marked by an earnings beat and revenues on par with market expectations.</li><li>The financial performance included consolidated revenues of $2 billion, a 10.1% increase, and significant earnings per diluted share from continuing operations.</li><li>The Building Materials business achieved above the expectation quarterly revenue and gross profit, emphasizing the strength of the value-over-volume strategy.</li></ul>

Martin Marietta Materials delivered a decent quarter marked by an earnings beat and revenues on par with market expectations.The financial performance included consolidated revenues of $2 billion, a 10.1% increase, and significant earnings per diluted share from continuing operations.The Building Materials business achieved above the expectation quarterly revenue and gross profit, emphasizing the strength of the value-over-volume strategy.

Martin Marietta Materials: The Strategy Behind Their Value-Over-Volume Triumph! - Major Drivers

<ul><li>Martin Marietta Materials delivered an all-around beat in the most recent quarterly results.</li><li>Martin Marietta achieved robust results across many areas, which includes an increase in consolidated total revenues, consolidated gross profit, adjusted EBITDA, and aggregates gross profit.</li><li>We give Martin Marietta Materials a 'Hold' rating with a revised target price.</li></ul>

Martin Marietta Materials delivered an all-around beat in the most recent quarterly results.Martin Marietta achieved robust results across many areas, which includes an increase in consolidated total revenues, consolidated gross profit, adjusted EBITDA, and aggregates gross profit.We give Martin Marietta Materials a 'Hold' rating with a revised target price.

Martin Marietta Materials Inc.: 5 Critical Highlights From The Recent Financial Performance! - Financial Forecasts

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/adbri-ltd" target="_blank" data-smartkarma-citation="entities:20166:1" rel="noopener">Adbri (ABC AU)</a> IE considers <a href="https://www.smartkarma.com/entities/crh-plc-054117b2-cd70-470a-9efc-8f6fab2c83ec" target="_blank" data-smartkarma-citation="entities:28655:1" rel="noopener">CRH (CRH US)</a> and Barro’s A$3.20 offer fair and reasonable as it is within its A$ A$3.09-3.53 per share valuation range. </li>
<li>The scheme is conditional on FIRB approval, which should be forthcoming as CRH, the offeror, is a Fortune 500 company headquartered in Ireland.</li>
<li>The offer is attractive, and this is a done deal. At the last close and for the 1 July payment, the gross/annualised spread was 1.3%/8.4%.</li>
</ul>


The Adbri (ABC AU) IE considers CRH (CRH US) and Barro’s A$3.20 offer fair and reasonable as it is within its A$ A$3.09-3.53 per share valuation range. 
The scheme is conditional on FIRB approval, which should be forthcoming as CRH, the offeror, is a Fortune 500 company headquartered in Ireland.
The offer is attractive, and this is a done deal. At the last close and for the 1 July payment, the gross/annualised spread was 1.3%/8.4%.


United States

Martin Marietta Materials, Inc. produces aggregates for the construction industry, including highways, infrastructure, commercial, and residential. The Company also manufactures and markets magnesia-based products, including heat-resistant refractory products for the steel industry, chemical products for industrial and environmental uses, and dolomitic lime.

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Martin Marietta Materials (MLM US)

Martin Marietta Materials: Growth Prospects Amidst U.S. Infrastructure Spending Surge! - Major Drivers

The Q1 2024 earnings for Martin Marietta showed some level of optimism for the company's growth prospects, though the transcript also raises some...

Baptista Research

Martin Marietta Materials: Expected Improvements In Housing Market Conditions Could Help Them Recover In 2024 & Beyond! - Major Drivers

Martin Marietta, a provider of aggregates and heavy building materials, presented a decent financial performance for the full year and fourth...

Baptista Research

Martin Marietta Materials: The Strategy Behind Their Value-Over-Volume Triumph! - Major Drivers

Martin Marietta Materials delivered a decent quarter marked by an earnings beat and revenues on par with market expectations. The financial...

Baptista Research

Martin Marietta Materials Inc.: 5 Critical Highlights From The Recent Financial Performance! - Financial Forecasts

Martin Marietta Materials delivered an all-around beat in the most recent quarterly results. Martin Marietta achieved robust results across many...

Baptista Research

Adbri (ABC AU): Scheme Vote on 12 June

The offer is attractive, and this is a done deal. At the last close and for the 1 July payment, the gross/annualised spread was 1.3%/8.4%.

Arun George

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