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>Albemarle Corporation's 2023 earnings reported net sales of $9.6 billion, a 31% rise compared to 2022 with volume growth contributing 21% to the increase.</li><li>The energy storage sector delivered 35% volumetric growth.</li><li>The corporation's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2023 were $2.8 billion or $3.4 billion, excluding a lower-cost charge recorded in Q4.</li></ul>

Albemarle Corporation's 2023 earnings reported net sales of $9.6 billion, a 31% rise compared to 2022 with volume growth contributing 21% to the increase.The energy storage sector delivered 35% volumetric growth.The corporation's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2023 were $2.8 billion or $3.4 billion, excluding a lower-cost charge recorded in Q4.

Albemarle Corporation: Is The EV Demand Actually Flattening & Impacting Their Performance? - Major Drivers

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/albemarle-corp" target="_blank" data-smartkarma-citation="entities:7678:1" rel="noopener">Albemarle Corp (ALB US)</a> will replace <a href="https://www.smartkarma.com/entities/ioneer-ltd" target="_blank" data-smartkarma-citation="entities:10264:1" rel="noopener">ioneer (INR AU)</a> in the <a href="https://www.smartkarma.com/entities/vaneck-rare-earth-strategic-me" target="_blank" data-smartkarma-citation="entities:32320:1" rel="noopener">VanEck Rare Earth/Strategic Me (REMX US)</a> at the close on 15 December.</li>
<li>Constituent changes, float changes and capping changes result in an estimated one-way turnover is 13.4% and in a one-way trade of US$50m.</li>
<li>The mainland China stocks in the index have been the biggest laggards and this rebalance will reduce their weight in the index significantly.</li>
</ul>



Albemarle Corp (ALB US) will replace ioneer (INR AU) in the VanEck Rare Earth/Strategic Me (REMX US) at the close on 15 December.
Constituent changes, float changes and capping changes result in an estimated one-way turnover is 13.4% and in a one-way trade of US$50m.
The mainland China stocks in the index have been the biggest laggards and this rebalance will reduce their weight in the index significantly.


MVIS Global Rare Earth/​​​​​Strategic Metals Index Rebalance: Albermarle (ALB US) Finally Added

<ul><li>Albemarle's results were a major disappointment as the company failed to meet Wall Street's revenue and earnings expectations.</li><li>However, despite the surge in sales, Albemarle's net income witnessed a significant decline of 66%, amounting to approximately $303 million, along with a parallel drop in diluted earnings per share (EPS) to $2.57.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Albemarle's results were a major disappointment as the company failed to meet Wall Street's revenue and earnings expectations.However, despite the surge in sales, Albemarle's net income witnessed a significant decline of 66%, amounting to approximately $303 million, along with a parallel drop in diluted earnings per share (EPS) to $2.57.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Albemarle Corporation: Is The Liontown Acquisition A Potential Game Changer? - Major Drivers

<ul><li>Albemarle Corporation delivered a positive result and managed an all-around beat in the last quarter, with net sales and EBITDA up compared to last year.</li><li>Based on the costs on the market at the time, their team has raised their energy storage projection for 2023.</li><li>We give Albemarle Corporation a 'Buy' rating with a revised target price.</li></ul>

Albemarle Corporation delivered a positive result and managed an all-around beat in the last quarter, with net sales and EBITDA up compared to last year.Based on the costs on the market at the time, their team has raised their energy storage projection for 2023.We give Albemarle Corporation a 'Buy' rating with a revised target price.

Albemarle Corporation: Riding High On Growing Demand & Rising Lithium Prices! - Key Drivers

<ul><li>Albemarle had a mixed Q1, with net sales below market expectations though EBITDA was up nearly four times to $1.6 billion resulting in an earnings beat.</li><li>Albemarle selected a site for their U.S.</li><li>Mega-Flex lithium processing facility in Richburg, South Carolina, and announced restructuring their MARBL joint venture in Australia.</li></ul>

Albemarle had a mixed Q1, with net sales below market expectations though EBITDA was up nearly four times to $1.6 billion resulting in an earnings beat.Albemarle selected a site for their U.S.Mega-Flex lithium processing facility in Richburg, South Carolina, and announced restructuring their MARBL joint venture in Australia.

Albemarle Corporation: Does The Global Expansion Of Lithium Resource & Conversion Capacity Make This A Buy? - Key Drivers

United States

Albemarle Corporation produces specialty and fine chemicals.  The Company's chemicals are additives to or intermediates for plastics, polymers and elastomers, cleaning products, agricultural compounds, pharmaceuticals, photographic chemicals, drilling compounds, and biocides.  Albemarle produces the majority of its products in the United States.

Albemarle Corp (ALB US)

Albemarle Corporation: Is The EV Demand Actually Flattening & Impacting Their Performance? - Major Drivers

Albemarle Corporation's 2023 earnings reported net sales of $9.6 billion, a 31% rise compared to 2022 with volume growth contributing 21% to the...

Baptista Research

MVIS Global Rare Earth/Strategic Metals Index Rebalance: Albermarle (ALB US) Finally Added

Albemarle will replace ioneer in the index. Constituent changes, float changes and capping changes result in an estimated one-way turnover is 13.4%...

Brian Freitas

Albemarle Corporation: Is The Liontown Acquisition A Potential Game Changer? - Major Drivers

Albemarle's results were a major disappointment as the company failed to meet Wall Street's revenue and earnings expectations. However, despite...

Baptista Research

Albemarle Corporation: Riding High On Growing Demand & Rising Lithium Prices! - Key Drivers

Albemarle Corporation delivered a positive result and managed an all-around beat in the last quarter, with net sales and EBITDA up compared to...

Baptista Research

Albemarle Corporation: Does The Global Expansion Of Lithium Resource & Conversion Capacity Make This A Buy? - Key Drivers

Albemarle had a mixed Q1, with net sales below market expectations though EBITDA was up nearly four times to $1.6 billion resulting in an earnings...

Baptista Research

Albemarle Corporation: Is The EV Demand Actually Flattening & Impacting Their Performance? - Major Drivers

Albemarle Corporation's 2023 earnings reported net sales of $9.6 billion, a 31% rise compared to 2022 with volume growth contributing 21% to the...

Baptista Research

MVIS Global Rare Earth/​​​​​Strategic Metals Index Rebalance: Albermarle (ALB US) Finally Added

Albemarle will replace ioneer in the index. Constituent changes, float changes and capping changes result in an estimated one-way turnover is 13.4%...

Brian Freitas

Albemarle Corporation: Is The Liontown Acquisition A Potential Game Changer? - Major Drivers

Albemarle's results were a major disappointment as the company failed to meet Wall Street's revenue and earnings expectations. However, despite...

Baptista Research

Albemarle Corporation: Riding High On Growing Demand & Rising Lithium Prices! - Key Drivers

Albemarle Corporation delivered a positive result and managed an all-around beat in the last quarter, with net sales and EBITDA up compared to...

Baptista Research

Albemarle Corporation: Does The Global Expansion Of Lithium Resource & Conversion Capacity Make This A Buy? - Key Drivers

Albemarle had a mixed Q1, with net sales below market expectations though EBITDA was up nearly four times to $1.6 billion resulting in an earnings...

Baptista Research

MVIS Global Rare Earth/Strategic Metals Index Rebalance: Albermarle (ALB US) Finally Added