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

United Parcel Service Cl B / Equity Bottom-Up

<ul><li>United Parcel Service, Inc. (UPS) has showcased robust financial and operational performance in its Third Quarter 2024 Earnings, reflecting a positive shift from previous quarters.</li><li>CEO Carol Tomé highlighted that the company returned to both revenue and profit growth during the quarter despite a challenging macroeconomic environment, with consolidated revenue reaching $22.2 billion, a 5.6% increase from the previous year.</li><li>This revenue growth accompanied a notable 22.8% rise in consolidated operating profit, achieving $2 billion, and an improved consolidated operating margin of 8.9%.</li></ul>

United Parcel Service, Inc. (UPS) has showcased robust financial and operational performance in its Third Quarter 2024 Earnings, reflecting a positive shift from previous quarters.CEO Carol Tomé highlighted that the company returned to both revenue and profit growth during the quarter despite a challenging macroeconomic environment, with consolidated revenue reaching $22.2 billion, a 5.6% increase from the previous year.This revenue growth accompanied a notable 22.8% rise in consolidated operating profit, achieving $2 billion, and an improved consolidated operating margin of 8.9%.

United Parcel Service (UPS): Navigating Supply Chain Disruptions and International Market Dynamics! - Major Drivers

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

<ul>
<li>Volume growth &amp; price declines both moderated in November vs preceding months</li>
<li>We believe most express companies should be experiencing margin expansion in Q424</li>
<li>We finish with a review 2024's winners and losers in China's ecomm fulfillment space</li>
</ul>


Volume growth &amp; price declines both moderated in November vs preceding months
We believe most express companies should be experiencing margin expansion in Q424
We finish with a review 2024's winners and losers in China's ecomm fulfillment space


Monthly Chinese Express Tracker | November Volume, ASPs | Review of YTD Performance (December 2024)

<ul><li>United Parcel Service, Inc. (UPS) returned to volume growth in the U.S. market in the second quarter of 2024, marking a significant shift following nine quarters of decline.</li><li>This achievement was largely a result of the company's strategic efforts, including its emphasis on small and medium sized business (SMB) sectors and strategic acquisitions like Estafeta, which bolstered its position in Mexico.</li><li>This move is expected to enhance UPS's logistics orchestration capabilities, particularly as regional manufacturing shifts closer to the United States.</li></ul>

United Parcel Service, Inc. (UPS) returned to volume growth in the U.S. market in the second quarter of 2024, marking a significant shift following nine quarters of decline.This achievement was largely a result of the company's strategic efforts, including its emphasis on small and medium sized business (SMB) sectors and strategic acquisitions like Estafeta, which bolstered its position in Mexico.This move is expected to enhance UPS's logistics orchestration capabilities, particularly as regional manufacturing shifts closer to the United States.

United Parcel Service (UPS): Strategic Pricing Revisions & Dynamic Revenue Management As Critical Growth Catalysts! - Major Drivers

Alpha-Centric ESG Research

Kyle Rudden

COVID-19 vaccines figure into Biden's recently-announced COVID-19 response plan, though with a clear emphasis on distribution versus development (as was Trump's focus). Biden's prioritisation of vaccine distribution – and the US$25 billion earmarked for it – is a gift for "cold chain" stocks."Cold chain" refers to a complex temperature-controlled supply chain that is mission-critical to the distribution of COVID-19 vaccines. Critical, because vaccines require consistent ultra-cold storage from manufacture to needle-stick, otherwise those expensive vaccines become medical waste.This Insight looks at cold chain stocks as an investment theme inherent in Biden's COVID-19 plan (see <a href="https://www.smartkarma.com/insights/biden-covid-19-response-plan-overview-of-its-inherent-investment-themes" target="_blank" data-smartkarma-citation="insights:45631" rel="noopener">Biden COVID-19 Response Plan: Overview of Its Inherent Investment Themes</a>). Although the cold chain is fragmented and largely privately-held, but there are opportunities in three areas:<ol>
<li>
Freight and Logistics: Most listed companies fall into this category, including both integrated cold chain freight and logistics stocks, as well as niche players in either of freight or logistics.</li>
<li>
Freezer Manufacturers: Ultra-cold freezer boxes and related industrial components of various shapes and sizes are needed for the cold chain to function. Several stocks serve this segment.</li>
<li>
Specialty Chemicals: Dry ice gets all the headlines, as massive amounts are needed but supply is short, but other specialty chemicals and industrial gases are also needed in the cold chain.</li>
</ol>

COVID-19 vaccines figure into Biden's recently-announced COVID-19 response plan, though with a clear emphasis on distribution versus development (as was Trump's focus). Biden's prioritisation of vaccine distribution – and the US$25 billion earmarked for it – is a gift for "cold chain" stocks."Cold chain" refers to a complex temperature-controlled supply chain that is mission-critical to the distribution of COVID-19 vaccines. Critical, because vaccines require consistent ultra-cold storage from manufacture to needle-stick, otherwise those expensive vaccines become medical waste.This Insight looks at cold chain stocks as an investment theme inherent in Biden's COVID-19 plan (see Biden COVID-19 Response Plan: Overview of Its Inherent Investment Themes). Although the cold chain is fragmented and largely privately-held, but there are opportunities in three areas:

Freight and Logistics: Most listed companies fall into this category, including both integrated cold chain freight and logistics stocks, as well as niche players in either of freight or logistics.

Freezer Manufacturers: Ultra-cold freezer boxes and related industrial components of various shapes and sizes are needed for the cold chain to function. Several stocks serve this segment.

Specialty Chemicals: Dry ice gets all the headlines, as massive amounts are needed but supply is short, but other specialty chemicals and industrial gases are also needed in the cold chain.


Biden COVID-19 Response Plan: Cold Chain Transportation and Logistics Stocks Benefit

<ul><li>United Parcel Service Inc. (UPS) reported consolidated revenue of $21.7 billion, marking a 5.3% decline YoY. The operating profit came in at $1.7 billion, down by 31.5% in comparison to the previous year, largely as a result of higher labor costs associated with the first year of the Teamsters contract.</li><li>The consolidated operating margin was at 8%.</li><li>A notable development in the quarter is UPS's deal with the United States Postal Service, where it plans to become the primary air cargo provider.</li></ul>

United Parcel Service Inc. (UPS) reported consolidated revenue of $21.7 billion, marking a 5.3% decline YoY. The operating profit came in at $1.7 billion, down by 31.5% in comparison to the previous year, largely as a result of higher labor costs associated with the first year of the Teamsters contract.The consolidated operating margin was at 8%.A notable development in the quarter is UPS's deal with the United States Postal Service, where it plans to become the primary air cargo provider.

United Parcel Service (UPS): How Is The Management Playing The Macro Cycle? - Major Drivers

United States

United Parcel Service, Inc.(UPS) delivers packages and documents throughout the United States and in other countries and territories.  The Company also provides global supply chain services and less-than-truckload transportation, primarily in the U.S. UPS's business consists of integrated air and ground pick-up and delivery network

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United Parcel Service Cl B (UPS US)

United Parcel Service (UPS): Navigating Supply Chain Disruptions and International Market Dynamics! - Major Drivers

United Parcel Service, Inc. (UPS) has showcased robust financial and operational performance in its Third Quarter 2024 Earnings, reflecting a...

Baptista Research

Monthly Chinese Express Tracker | November Volume, ASPs | Review of YTD Performance (December 2024)

Year-over-year parcel volume growth and price declines both moderated somewhat in November. We believe most Chinese express companies are...

Tracking Traffic

United Parcel Service (UPS): Strategic Pricing Revisions & Dynamic Revenue Management As Critical Growth Catalysts! - Major Drivers

United Parcel Service, Inc. (UPS) returned to volume growth in the U.S. market in the second quarter of 2024, marking a significant shift...

Baptista Research

Biden COVID-19 Response Plan: Cold Chain Transportation and Logistics Stocks Benefit

Biden's COVID-19 response plan earmarks US$25 billion to vaccines, but with a twist. His emphasis is vaccine distribution, not development. That...

Kyle Rudden

United Parcel Service (UPS): How Is The Management Playing The Macro Cycle? - Major Drivers

United Parcel Service Inc. (UPS) reported consolidated revenue of $21.7 billion, marking a 5.3% decline YoY. The operating profit came in at $1.7...

Baptista Research

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