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>After the first-quarter 2024 earnings of Vulcan Materials Company, Vulcan confirmed it is on track to deliver a fourth consecutive year of double-digit adjusted EBITDA growth, despite challenging weather conditions during the quarter.</li><li>Adjusted EBITDA for the quarter stood at $323 million, showcasing the durability of the Aggregates business and robust cash generation.</li><li>The pricing environment remains optimistic and gross profit-per-ton expanded, driven by the Vulcan Way of Selling and Vulcan Way of Operating disciplines.</li></ul>

After the first-quarter 2024 earnings of Vulcan Materials Company, Vulcan confirmed it is on track to deliver a fourth consecutive year of double-digit adjusted EBITDA growth, despite challenging weather conditions during the quarter.Adjusted EBITDA for the quarter stood at $323 million, showcasing the durability of the Aggregates business and robust cash generation.The pricing environment remains optimistic and gross profit-per-ton expanded, driven by the Vulcan Way of Selling and Vulcan Way of Operating disciplines.

Vulcan Materials Company: A Tale Of Strategic Dominance In The Aggregates Industry! - Major Drivers

<ul><li>Vulcan Materials Company provided a comprehensive outlook on the company's performance and future expectations in its earnings.</li><li>The company reported an exceptional year in 2023 as they achieved significant milestones; generating over $2 billion in adjusted EBITDA and surpassing $9 of aggregate cash gross profit per ton.</li><li>They also reported a 27% year-over-year improvement in adjusted EBITDA in the fourth quarter, apart from margin expansion across their three primary product lines.</li></ul>

Vulcan Materials Company provided a comprehensive outlook on the company's performance and future expectations in its earnings.The company reported an exceptional year in 2023 as they achieved significant milestones; generating over $2 billion in adjusted EBITDA and surpassing $9 of aggregate cash gross profit per ton.They also reported a 27% year-over-year improvement in adjusted EBITDA in the fourth quarter, apart from margin expansion across their three primary product lines.

Vulcan Materials Company: Continued Investment in Expense Management

Podcast by Dom Cooke to explore big businesses, Business Breakdowns

Business Breakdowns

Podcast by Dom Cooke to explore big businesses

Learn how companies work from the people who know them best. We do deep research and interview industry veterans, investment professionals, and corporate executives to explain the inner workings of public stocks and private businesses. For each company, we break down their history, business model, financial statements, secret sauce, and bull/bear case. We believe every business has lessons to teach us and Breakdowns is here to highlight them. Learn more and stay up to date at www.joincolossus.com.

<ul><li>Vulcan Materials is America's largest producer of construction aggregates, providing the foundation for buildings, roads, and infrastructure.</li><li>The company owns over 400 quarries located within 60% of the US population, producing aggregates used in asphalt and concrete.</li><li>The industry structure involves owning quarries and crushing rocks down to create materials used in various construction projects, with a market size of around $35 billion.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Vulcan Materials is America's largest producer of construction aggregates, providing the foundation for buildings, roads, and infrastructure.The company owns over 400 quarries located within 60% of the US population, producing aggregates used in asphalt and concrete.The industry structure involves owning quarries and crushing rocks down to create materials used in various construction projects, with a market size of around $35 billion.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Vulcan Materials: Rock On - [Business Breakdowns, EP.151]

<ul><li>Vulcan Materials Company delivered a positive result and managed an all-around beat in the quarter.</li><li>Vulcan has increased its gross margin and strictly managed SAG costs to increase its adjusted EBITDA margin by 350 basis points year-to-date.</li><li>With excellent price growth and restrained cost increases over the previous year, cash gross profit per ton increased.</li></ul>

Vulcan Materials Company delivered a positive result and managed an all-around beat in the quarter.Vulcan has increased its gross margin and strictly managed SAG costs to increase its adjusted EBITDA margin by 350 basis points year-to-date.With excellent price growth and restrained cost increases over the previous year, cash gross profit per ton increased.

Vulcan Materials Company: Solidifying Its Base with Surging Gross Margins! - 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>The WTR Sustainable Index was down 3.6% W/W versus the S&amp;P 500 Index (down 2.0%), the Russell 2000 Index (up 1.7%) and the Nasdaq Index (down 4.0%).</li><li>Energy Technology (14.4% of the index) was down 8.1%, while Industrial Climate and Ag Technology (59.6% of the index) was down 1.7%, ClimateTech Mining was down 7.0%, and Advanced Transportation Solutions (20.7% of index) was down 6.0%.</li><li>Top 10 Performers: ARVL, ZAPP, NAAS, VMC, PEGY, QS, LCID, OUST, EVGO, COMM</li></ul>

The WTR Sustainable Index was down 3.6% W/W versus the S&amp;P 500 Index (down 2.0%), the Russell 2000 Index (up 1.7%) and the Nasdaq Index (down 4.0%).Energy Technology (14.4% of the index) was down 8.1%, while Industrial Climate and Ag Technology (59.6% of the index) was down 1.7%, ClimateTech Mining was down 7.0%, and Advanced Transportation Solutions (20.7% of index) was down 6.0%.Top 10 Performers: ARVL, ZAPP, NAAS, VMC, PEGY, QS, LCID, OUST, EVGO, COMM

Sustainable Investing Surveyor - Focus on Westwater Resources, Inc. (WWR)

United States

Vulcan Materials Company produces construction aggregates.  The Company principal product lines are aggregates, asphalt mix and concrete, and cement.

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Vulcan Materials Co (VMC US)

Vulcan Materials Company: A Tale Of Strategic Dominance In The Aggregates Industry! - Major Drivers

After the first-quarter 2024 earnings of Vulcan Materials Company, Vulcan confirmed it is on track to deliver a fourth consecutive year of...

Baptista Research

Vulcan Materials Company: Continued Investment in Expense Management

Vulcan Materials Company provided a comprehensive outlook on the company's performance and future expectations in its earnings. The company...

Baptista Research

Vulcan Materials: Rock On - [Business Breakdowns, EP.151]

Vulcan Materials is America's largest producer of construction aggregates, providing the foundation for buildings, roads, and infrastructure.

Business Breakdowns

Vulcan Materials Company: Solidifying Its Base with Surging Gross Margins! - Major Drivers

Vulcan Materials Company delivered a positive result and managed an all-around beat in the quarter. Vulcan has increased its gross margin and...

Baptista Research

Sustainable Investing Surveyor - Focus on Westwater Resources, Inc. (WWR)

The WTR Sustainable Index was down 3.6% W/W versus the S&P 500 Index (down 2.0%), the Russell 2000 Index (up 1.7%) and the Nasdaq Index (down 4.0%).

Water Tower Research

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