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

Reliance Steel & Aluminum / Equity Bottom-Up

<ul><li>Reliance Steel presented its Third Quarter 2024 earnings and reported a robust operational performance amid fluctuating market dynamics.</li><li>Despite notable downturns in metals pricing, significantly more than expected, the company reported a non-GAAP earnings per diluted share of $3.64, aligning with their projections.</li><li>This was underpinned by their enhanced volume driven by targeted growth efforts and a resilient business model characterized by a diverse range of end-markets, expansive value-added processing capabilities, and quick turn orders.</li></ul>

Reliance Steel presented its Third Quarter 2024 earnings and reported a robust operational performance amid fluctuating market dynamics.Despite notable downturns in metals pricing, significantly more than expected, the company reported a non-GAAP earnings per diluted share of $3.64, aligning with their projections.This was underpinned by their enhanced volume driven by targeted growth efforts and a resilient business model characterized by a diverse range of end-markets, expansive value-added processing capabilities, and quick turn orders.

Reliance Inc.: How Are They Dealing With Challenges in Maintaining Automotive Sector Influence Amid Market Fluctuations? - Major Drivers

<ul><li>Reliance, Inc. reported its financial results for the second quarter of 2024, demonstrating resilience in a challenging market environment characterized by fluctuating steel prices and economic uncertainties.</li><li>The company’s strategic focus on diversification and customer service has allowed it to increase shipments and expand its market presence, albeit with mixed financial outcomes.</li><li>On a positive note, Reliance, Inc. has seen strong results from its recent acquisitions, including Cooksey Steel, American Alloy, and Mid-West Materials, which collectively added nearly $500 million in annualized net sales.</li></ul>

Reliance, Inc. reported its financial results for the second quarter of 2024, demonstrating resilience in a challenging market environment characterized by fluctuating steel prices and economic uncertainties.The company’s strategic focus on diversification and customer service has allowed it to increase shipments and expand its market presence, albeit with mixed financial outcomes.On a positive note, Reliance, Inc. has seen strong results from its recent acquisitions, including Cooksey Steel, American Alloy, and Mid-West Materials, which collectively added nearly $500 million in annualized net sales.

Reliance Steel & Aluminum Co.: A Highly Diversified End Market Exposure Saving The Day! - Major Drivers

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>The index is reviewed quarterly. The next review will be in June 2024 and the evaluation date for the rankings for the constituent selection process is 6th June 2024.</li>
<li>In this insight, we take a look at the Potential ADDs and Potential DELs for the June 2024 index rebal event and the intra-review ADDs/DELETEs.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
The index is reviewed quarterly. The next review will be in June 2024 and the evaluation date for the rankings for the constituent selection process is 6th June 2024.
In this insight, we take a look at the Potential ADDs and Potential DELs for the June 2024 index rebal event and the intra-review ADDs/DELETEs.


Quiddity Leaderboard S&P 500 Jun 24 Rebal: Many Intra-Review Changes Possible Due to M&A, Spin-Offs

<ul><li>Reliance Steel reported robust growth and substantial gains in Q1 2024, supported by their business model's resilience.</li><li>Their products, markets, and geographical diversity delivered a strong performance for the quarter, demonstrating growth amidst challenging pricing situations.</li><li>The earnings results showed non GAAP earnings per share amounting to $5.30 per diluted share, indicating the organization's solid profitability.</li></ul>

Reliance Steel reported robust growth and substantial gains in Q1 2024, supported by their business model's resilience.Their products, markets, and geographical diversity delivered a strong performance for the quarter, demonstrating growth amidst challenging pricing situations.The earnings results showed non GAAP earnings per share amounting to $5.30 per diluted share, indicating the organization's solid profitability.

Reliance Steel & Aluminum Co: Investments in End-Markets and Benefits from Infrastructure Bill! - Major Drivers

<ul><li>Reliance, Inc.</li><li>released its Fourth Quarter and Full Year 2023 financial results with officials highlighting the firm's strong operational and financial performance for 2023 despite a challenging environment.</li><li>The company's President and CEO, Karla Lewis, notably acknowledged the company's recent name change from its original name which had included the words 'steel' and 'aluminum.' Lewis noted that the name change reflected the evolution of the company beyond metal in the form of being a family of diversified businesses.</li></ul>

Reliance, Inc.released its Fourth Quarter and Full Year 2023 financial results with officials highlighting the firm's strong operational and financial performance for 2023 despite a challenging environment.The company's President and CEO, Karla Lewis, notably acknowledged the company's recent name change from its original name which had included the words 'steel' and 'aluminum.' Lewis noted that the name change reflected the evolution of the company beyond metal in the form of being a family of diversified businesses.

Reliance Steel & Aluminum: A Tale Of Expansion Through Strategic Acquisitions! - Major Drivers

United States

Reliance Steel & Aluminum Co. distributes and processes steel and aluminum. The Company's products include carbon, alloy, stainless and specialty steel, aluminum, brass, and copper.  Reliance operates processing and distribution centers throughout the United States. Reliance Steel & Aluminum operates in Spain.

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Reliance Steel & Aluminum (RS US)

Reliance Inc.: How Are They Dealing With Challenges in Maintaining Automotive Sector Influence Amid Market Fluctuations? - Major Drivers

Reliance Steel presented its Third Quarter 2024 earnings and reported a robust operational performance amid fluctuating market dynamics. Despite...

Baptista Research

Reliance Steel & Aluminum Co.: A Highly Diversified End Market Exposure Saving The Day! - Major Drivers

Reliance, Inc. reported its financial results for the second quarter of 2024, demonstrating resilience in a challenging market environment...

Baptista Research

Quiddity Leaderboard S&P 500 Jun 24 Rebal: Many Intra-Review Changes Possible Due to M&A, Spin-Offs

The SP500 will to see up to 4 intra-review changes before the June 2024 rebal. 3 near certain. The interesting ones? Two SP600 deletions due to...

Travis Lundy

Reliance Steel & Aluminum Co: Investments in End-Markets and Benefits from Infrastructure Bill! - Major Drivers

Reliance Steel reported robust growth and substantial gains in Q1 2024, supported by their business model's resilience. Their products, markets,...

Baptista Research

Reliance Steel & Aluminum: A Tale Of Expansion Through Strategic Acquisitions! - Major Drivers

Reliance, Inc. released its Fourth Quarter and Full Year 2023 financial results with officials highlighting the firm's strong operational and...

Baptista Research

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