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 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

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 & Aluminum Co. delivered mixed results for the previous quarter, with revenues above analyst expectations but below-par earnings.</li><li>Reliance Steel & Aluminum delivered non-GAAP earnings per share of $5, in line with its guidance, while effectively managing working capital and generating a solid operating cash flow of $466 million for the quarter.</li><li>While pricing pressures and macro headwinds persisted, Reliance Steel & Aluminum maintained a stable gross profit margin of 29.7% and achieved earnings per share of $4.99 for the quarter.</li></ul>

Reliance Steel & Aluminum Co. delivered mixed results for the previous quarter, with revenues above analyst expectations but below-par earnings.Reliance Steel & Aluminum delivered non-GAAP earnings per share of $5, in line with its guidance, while effectively managing working capital and generating a solid operating cash flow of $466 million for the quarter.While pricing pressures and macro headwinds persisted, Reliance Steel & Aluminum maintained a stable gross profit margin of 29.7% and achieved earnings per share of $4.99 for the quarter.

Reliance Steel & Aluminum Co.: Enhanced Inventory Management & Margin Stability As Growth Catalysts! - Major Drivers

<ul><li>Reliance Steel & Aluminum's results were a major disappointment as the company failed to meet the revenue and earnings expectations of Wall Street.</li><li>Stainless steel and aluminum products represented more than 30% of the total sales of the quarter, with stainless and aluminum aerospace products comprising around 9%.</li><li>We give Reliance Steel & Aluminum Co an 'Underperform' rating with a revised target price.</li></ul>

Reliance Steel & Aluminum's results were a major disappointment as the company failed to meet the revenue and earnings expectations of Wall Street.Stainless steel and aluminum products represented more than 30% of the total sales of the quarter, with stainless and aluminum aerospace products comprising around 9%.We give Reliance Steel & Aluminum Co an 'Underperform' rating with a revised target price.

Reliance Steel & Aluminum Co.: Discovering the Key Factors Behind The Recent Results! - Financial Forecasts

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 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

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.: Enhanced Inventory Management & Margin Stability As Growth Catalysts! - Major Drivers

Reliance Steel & Aluminum Co. delivered mixed results for the previous quarter, with revenues above analyst expectations but below-par...

Baptista Research

Reliance Steel & Aluminum Co.: Discovering the Key Factors Behind The Recent Results! - Financial Forecasts

Reliance Steel & Aluminum's results were a major disappointment as the company failed to meet the revenue and earnings expectations of Wall...

Baptista Research

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