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>RPM International's third-quarter fiscal 2024 results marked their ninth consecutive quarter of record sales and earnings before interest and taxes (EBIT) results, driven by the company's operational improvement initiatives - the MAP 2025.</li><li>This positive momentum was achieved, notwithstanding lower sales volumes in the Consumer and Specialty Products segments.</li><li>Performance Coatings Group and Construction Products Group led sales growth, benefiting from strong demand from infrastructure and building projects.</li></ul>

RPM International's third-quarter fiscal 2024 results marked their ninth consecutive quarter of record sales and earnings before interest and taxes (EBIT) results, driven by the company's operational improvement initiatives - the MAP 2025.This positive momentum was achieved, notwithstanding lower sales volumes in the Consumer and Specialty Products segments.Performance Coatings Group and Construction Products Group led sales growth, benefiting from strong demand from infrastructure and building projects.

RPM International: Investment In Asian Market & Economic Growth & 5 Fundamental Factors Driving Its Performance! - Financial Forecasts

<ul><li>RPM International Inc. delivered an all-around beat in the previous quarter, with a notable 4.1% surge in consolidated sales, reaching an unprecedented $2.01 billion.</li><li>This growth, propelled by pricing strategies and moderate volume expansion, resulted in a 3.9% increase in organic sales.</li><li>In contrast, the Specialty Products Group experienced a 10.7% decline in sales, reaching $181 million, primarily due to weak OEM demand and divestitures.</li></ul>

RPM International Inc. delivered an all-around beat in the previous quarter, with a notable 4.1% surge in consolidated sales, reaching an unprecedented $2.01 billion.This growth, propelled by pricing strategies and moderate volume expansion, resulted in a 3.9% increase in organic sales.In contrast, the Specialty Products Group experienced a 10.7% decline in sales, reaching $181 million, primarily due to weak OEM demand and divestitures.

RPM International Inc.: How Consumer Demands Propel Exceptional Sales Growth! - Major Drivers

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>Heavy lithium. Halfway through the year, the S&amp;P 500 has appreciated 15.4% YTD, driven by the strong performance of the Magnificent Seven, even as the remaining 490+ companies saw their stock prices move more in line with the Russell 2000, which itself posted an 7.8% gain YTD.</li><li>Over the same timeframe, the WTR-CMI Index delivered a disappointing 4.4% gain under the weight of lithium and graphite companies losing 36-62% of their value due to collapsing lithium and synthetic graphite prices, driven by slower growth of EVs and steel production and liquidation of excess inventories by customers, built over the course of 2022-23.</li><li><p>Sticky costs remain as pricing power wanes. Over the course of 2022-23, many companies experiencing a rapid rise in raw material costs, driven by higher petrochemical prices and rising costs of transportation and logistics aggressively raised prices in an attempt to preserve profits, if not profit margins. </p></li></ul>

Heavy lithium. Halfway through the year, the S&amp;P 500 has appreciated 15.4% YTD, driven by the strong performance of the Magnificent Seven, even as the remaining 490+ companies saw their stock prices move more in line with the Russell 2000, which itself posted an 7.8% gain YTD.Over the same timeframe, the WTR-CMI Index delivered a disappointing 4.4% gain under the weight of lithium and graphite companies losing 36-62% of their value due to collapsing lithium and synthetic graphite prices, driven by slower growth of EVs and steel production and liquidation of excess inventories by customers, built over the course of 2022-23.Sticky costs remain as pricing power wanes. Over the course of 2022-23, many companies experiencing a rapid rise in raw material costs, driven by higher petrochemical prices and rising costs of transportation and logistics aggressively raised prices in an attempt to preserve profits, if not profit margins. 

Mat-Chem Notes - Between a Rock and a Hard Place - 2H24 Outlook

<ul><li>RPM International Inc. delivered a positive result and managed an all-around beat in the last quarter.</li><li>Net sales for the Construction Products Group reached $748 million, a small increase over the same period the previous year.</li><li>The consumer group increased sales by 4.9% to $716.4 million in the quarter.</li></ul>

RPM International Inc. delivered a positive result and managed an all-around beat in the last quarter.Net sales for the Construction Products Group reached $748 million, a small increase over the same period the previous year.The consumer group increased sales by 4.9% to $716.4 million in the quarter.

RPM International Inc.: Strategies in the Booming Construction Sector! - Major Drivers

<ul><li>Changes to WTR-CMI. Following the completion of Livent’s merger of equals with Allkem, the new company, with the new name Arcadium Lithium plc, is now trading under the symbols ALTM-NYSE and LTM-ASX, and has replaced LTHM in our index.</li><li>WTR-CMI last week. The S&amp;P 500 appreciated 1.2% last week, while the broader Russell 2000 managed to stay relatively flat, losing 0.3% of its value.</li><li>Our WTR-CMI Index declined 1.2%, dragged down by double-digit losses in lithium stocks and the continuing decline in the value of synthetic graphite maker EAF. </li></ul>

Changes to WTR-CMI. Following the completion of Livent’s merger of equals with Allkem, the new company, with the new name Arcadium Lithium plc, is now trading under the symbols ALTM-NYSE and LTM-ASX, and has replaced LTHM in our index.WTR-CMI last week. The S&amp;P 500 appreciated 1.2% last week, while the broader Russell 2000 managed to stay relatively flat, losing 0.3% of its value.Our WTR-CMI Index declined 1.2%, dragged down by double-digit losses in lithium stocks and the continuing decline in the value of synthetic graphite maker EAF. 

Mat-Chem Notes - For the Week Ended January 19, 2024

United States

RPM International, Inc. manufactures, markets, and sells various specialty chemical product lines. The Company's product lines include specialty paints, protective coatings and roofing systems, sealants and adhesives, focusing on the maintenance needs of both the industrial and consumer markets.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Rpm International (RPM US)

RPM International: Investment In Asian Market & Economic Growth & 5 Fundamental Factors Driving Its Performance! - Financial Forecasts

RPM International's third-quarter fiscal 2024 results marked their ninth consecutive quarter of record sales and earnings before interest and...

Baptista Research

RPM International Inc.: How Consumer Demands Propel Exceptional Sales Growth! - Major Drivers

RPM International Inc. delivered an all-around beat in the previous quarter, with a notable 4.1% surge in consolidated sales, reaching an...

Baptista Research

Mat-Chem Notes - Between a Rock and a Hard Place - 2H24 Outlook

Over the same timeframe, the WTR-CMI Index delivered a disappointing 4.4% gain under the weight of lithium and graphite companies losing 36-62% of...

Water Tower Research

RPM International Inc.: Strategies in the Booming Construction Sector! - Major Drivers

RPM International Inc. delivered a positive result and managed an all-around beat in the last quarter. Net sales for the Construction Products...

Baptista Research

Mat-Chem Notes - For the Week Ended January 19, 2024

WTR-CMI last week. The S&P 500 appreciated 1.2% last week, while the broader Russell 2000 managed to stay relatively flat, losing 0.3% of its value.

Water Tower Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)