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>Nutrien recently reported its financial results for the first half of 2024, highlighted by mixed performances across its various segments.</li><li>The company, a global leader in providing crop inputs and services, recorded an adjusted EBITDA of $3.3 billion, driven by increased crop input margins, strong global demand for potash, and lower operating costs.</li><li>Potash segment performance was robust in terms of volume but faced challenges from lower benchmark prices which were partly offset by reduced production costs due to increased mine automation.</li></ul>

Nutrien recently reported its financial results for the first half of 2024, highlighted by mixed performances across its various segments.The company, a global leader in providing crop inputs and services, recorded an adjusted EBITDA of $3.3 billion, driven by increased crop input margins, strong global demand for potash, and lower operating costs.Potash segment performance was robust in terms of volume but faced challenges from lower benchmark prices which were partly offset by reduced production costs due to increased mine automation.

Nutrien Ltd.: Expansion in Proprietary Products and Digital Solutions! - Major Drivers

<ul><li>Nutrien reported an adjusted EBITDA of $1.1 billion for Q1 2024, attributed to higher margins in crop inputs, increased fertiliser production, greater sales volumes, and lowered operating costs.</li><li>The company's Ag Solutions division reported a 15% increase per tonne margins compared to Q1 2023, supported by robust grower demand and a return to standardised margins in North America.</li><li>In relation to operational and market developments, Nutrien increased crop protection inventory in Brazil to manage high inventory levels and reduce operating costs.</li></ul>

Nutrien reported an adjusted EBITDA of $1.1 billion for Q1 2024, attributed to higher margins in crop inputs, increased fertiliser production, greater sales volumes, and lowered operating costs.The company's Ag Solutions division reported a 15% increase per tonne margins compared to Q1 2023, supported by robust grower demand and a return to standardised margins in North America.In relation to operational and market developments, Nutrien increased crop protection inventory in Brazil to manage high inventory levels and reduce operating costs.

Nutrien Ltd.: Does It Have A Sustainable Competitive Advantage? - Major Drivers

<ul><li>This is our first report on crop inputs and related services provider, Nutrien Ltd.</li><li>The company had a robust performance in its 2023 fiscal year, which was marked by several notable developments and strategic actions aimed at enhancing its overall financial health and positioning the company for future growth.</li><li>The business delivered an adjusted EBITDA of $6.1 billion during this period.</li></ul>

This is our first report on crop inputs and related services provider, Nutrien Ltd.The company had a robust performance in its 2023 fiscal year, which was marked by several notable developments and strategic actions aimed at enhancing its overall financial health and positioning the company for future growth.The business delivered an adjusted EBITDA of $6.1 billion during this period.

Nutrien Ltd.: Initiation Of Coverage - A Deep Dive Into Its Growth Strategy! - Major Drivers

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>A monthly review of how the markets and our themes are currently performing</li>
<li>Analysing what went wrong and what went right in stocks and sectors</li>
<li>Highlighting positions added or removed from the thematic investment portfolio</li>
</ul>


A monthly review of how the markets and our themes are currently performing
Analysing what went wrong and what went right in stocks and sectors
Highlighting positions added or removed from the thematic investment portfolio


China Bluechemical Ltd H / Equity Bottom-Up

<ul>
<li>A play on higher food and energy prices going forward</li>
<li>Natural Gas moving up from multi-year lows will support fertiliser prices going forward</li>
<li>A Low valuation with a solid balance sheet lowers the risk</li>
</ul>


A play on higher food and energy prices going forward
Natural Gas moving up from multi-year lows will support fertiliser prices going forward
A Low valuation with a solid balance sheet lowers the risk


China Bluechemical Ltd (3983.HK) - Fertiliser Pricing on the Up

Canada

Nutrien Ltd. provides crop inputs and services. The Company produces and distributes potash, nitrogen, and phosphate products for agricultural, industrial, and feed customers. Nutrien serves the agriculture industry worldwide.

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Nutrien (NTR US)

Nutrien Ltd.: Expansion in Proprietary Products and Digital Solutions! - Major Drivers

Nutrien recently reported its financial results for the first half of 2024, highlighted by mixed performances across its various segments. The...

Baptista Research

Nutrien Ltd.: Does It Have A Sustainable Competitive Advantage? - Major Drivers

Nutrien reported an adjusted EBITDA of $1.1 billion for Q1 2024, attributed to higher margins in crop inputs, increased fertiliser production,...

Baptista Research

Nutrien Ltd.: Initiation Of Coverage - A Deep Dive Into Its Growth Strategy! - Major Drivers

This is our first report on crop inputs and related services provider, Nutrien Ltd. The company had a robust performance in its 2023 fiscal year,...

Baptista Research

May Themes and Thematic Portfolio Review

We review overall market performance, our investment themes, highlighting additions and substractions in the thematic portfolio.

Rikki Malik

China Bluechemical Ltd (3983.HK) - Fertiliser Pricing on the Up

Investors can capitalize on rising food and energy prices in this fertiliser stock poised for an upswing, with a low valuation and a strong...

Rikki Malik

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Nutrien Ltd.: Expansion in Proprietary Products and Digital Solutions! - Major Drivers

Nutrien recently reported its financial results for the first half of 2024, highlighted by mixed performances across its various segments. The...

Baptista Research

Nutrien Ltd.: Does It Have A Sustainable Competitive Advantage? - Major Drivers

Nutrien reported an adjusted EBITDA of $1.1 billion for Q1 2024, attributed to higher margins in crop inputs, increased fertiliser production,...

Baptista Research

Nutrien Ltd.: Initiation Of Coverage - A Deep Dive Into Its Growth Strategy! - Major Drivers

This is our first report on crop inputs and related services provider, Nutrien Ltd. The company had a robust performance in its 2023 fiscal year,...

Baptista Research

May Themes and Thematic Portfolio Review

We review overall market performance, our investment themes, highlighting additions and substractions in the thematic portfolio.

Rikki Malik

China Bluechemical Ltd (3983.HK) - Fertiliser Pricing on the Up

​Investors can capitalize on rising food and energy prices in this fertiliser stock poised for an upswing, with a low valuation and a strong...

Rikki Malik

Investors can capitalize on rising food and energy prices in this fertiliser stock poised for an upswing, with a low valuation and a strong...