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

American Water Works Co / Equity Bottom-Up

<ul><li>American Water Works Company, Inc. reported solid second-quarter and first-half 2026 results, with adjusted EPS of $1.61 in Q2 versus $1.49 a year earlier, representing slightly more than 8% growth.</li><li>Year-to-date adjusted EPS reached $2.62 compared with $2.51 in the same period of 2025.</li><li>Results were supported mainly by authorized rate increases that enabled recovery of capital investments across its 14-state footprint.</li></ul>

American Water Works Company, Inc. reported solid second-quarter and first-half 2026 results, with adjusted EPS of $1.61 in Q2 versus $1.49 a year earlier, representing slightly more than 8% growth.Year-to-date adjusted EPS reached $2.62 compared with $2.51 in the same period of 2025.Results were supported mainly by authorized rate increases that enabled recovery of capital investments across its 14-state footprint.

American Water Works’ $236 Million Acquisition Pipeline — Can Consolidation Pay Off?

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Research Reinvented

<ul>
  <li>As the largest publicly traded water and wastewater utility in the U.S., American Water Works benefits from a stable, regulated business model that provides predictable revenue and earnings streams.</li>
  <li>The company's primary growth driver is its significant capital investment program aimed at upgrading aging infrastructure, which expands its rate base and supports requests for rate increases from regulators. This is supplemented by a strategy of acquiring smaller, municipal water systems.</li>
  <li>Key challenges include navigating the complex regulatory environment across multiple states, managing rising operating and financing costs, and funding a capital-intensive business model that results in consistently negative free cash flow.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  As the largest publicly traded water and wastewater utility in the U.S., American Water Works benefits from a stable, regulated business model that provides predictable revenue and earnings streams.
  The company's primary growth driver is its significant capital investment program aimed at upgrading aging infrastructure, which expands its rate base and supports requests for rate increases from regulators. This is supplemented by a strategy of acquiring smaller, municipal water systems.
  Key challenges include navigating the complex regulatory environment across multiple states, managing rising operating and financing costs, and funding a capital-intensive business model that results in consistently negative free cash flow.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: American Water Works Co (AWK US) - Aug 2026

<ul><li>American Water Works Company, Inc. reported first quarter 2026 adjusted earnings of $1.01 per share, aligning with its full-year earnings guidance.</li><li>The company reaffirmed its expectation to deliver approximately 8% earnings per share (EPS) growth for 2026, continuing a trend of consistent EPS and dividend growth in the 7% to 9% range through 2030.</li><li>Revenues increased due to authorized rate hikes aimed at recovering investments across multiple states.</li></ul>

American Water Works Company, Inc. reported first quarter 2026 adjusted earnings of $1.01 per share, aligning with its full-year earnings guidance.The company reaffirmed its expectation to deliver approximately 8% earnings per share (EPS) growth for 2026, continuing a trend of consistent EPS and dividend growth in the 7% to 9% range through 2030.Revenues increased due to authorized rate hikes aimed at recovering investments across multiple states.

American Water Works Is Not Just A Water Utility — Its Merger Story Is Taking Shape!

<ul><li>American Water reported a solid 2025 performance, with adjusted earnings of $5.64 per share compared with $5.18 per share in 2024, placing results near the upper end of management’s expectations and reflecting 8.9% earnings growth.</li><li>Revenue benefited from authorized rate increases, recently completed acquisitions, and organic customer growth.</li><li>At the same time, higher operating and financing costs remained a meaningful offset, as operations and maintenance expense rose on employee-related costs and purchased power, while depreciation and interest expense increased in line with the company’s expanding investment base.</li></ul>

American Water reported a solid 2025 performance, with adjusted earnings of $5.64 per share compared with $5.18 per share in 2024, placing results near the upper end of management’s expectations and reflecting 8.9% earnings growth.Revenue benefited from authorized rate increases, recently completed acquisitions, and organic customer growth.At the same time, higher operating and financing costs remained a meaningful offset, as operations and maintenance expense rose on employee-related costs and purchased power, while depreciation and interest expense increased in line with the company’s expanding investment base.

American Water Works' REAL Pressure Point Is Rising Costs Versus Rate Recovery

<ul><li>American Water Works has taken a transformative step by agreeing to acquire Essential Utilities in an all-stock merger that would create the largest regulated water and wastewater utility platform in the United States.</li><li>The transaction, expected to close by the end of the first quarter of 2027, would result in American Water shareholders owning approximately 69% of the combined entity, with Essential Utilities shareholders holding the remaining 31%.</li><li>The pro forma company would command a rate base of roughly $34 billion as of year-end 2024 and serve approximately 5.4 million water, wastewater, and natural gas connections across 17 regulated states and 18 military installations.</li></ul>

American Water Works has taken a transformative step by agreeing to acquire Essential Utilities in an all-stock merger that would create the largest regulated water and wastewater utility platform in the United States.The transaction, expected to close by the end of the first quarter of 2027, would result in American Water shareholders owning approximately 69% of the combined entity, with Essential Utilities shareholders holding the remaining 31%.The pro forma company would command a rate base of roughly $34 billion as of year-end 2024 and serve approximately 5.4 million water, wastewater, and natural gas connections across 17 regulated states and 18 military installations.

American Water And Essential Utilities: The Mega-Utility Deal Shaking Up Investors!

United States

American Water Works Co., Inc. provides drinking water, wastewater and other water-related services in multiple states and Ontario, Canada. The Company's primary business involves the ownership of regulated water and wastewater utilities that provide water and wastewater services to residential, commercial and industrial customers.

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American Water Works Co (AWK US)

American Water Works’ $236 Million Acquisition Pipeline — Can Consolidation Pay Off?

American Water Works Company, Inc. reported solid second-quarter and first-half 2026 results, with adjusted EPS of $1.61 in Q2 versus $1.49 a year...

Baptista Research

Primer: American Water Works Co (AWK US) - Aug 2026

As the largest publicly traded water and wastewater utility in the U.S., American Water Works benefits from a stable, regulated business model...

αSK Primers

American Water Works Is Not Just A Water Utility — Its Merger Story Is Taking Shape!

American Water Works Company, Inc. reported first quarter 2026 adjusted earnings of $1.01 per share, aligning with its full-year earnings...

Baptista Research

American Water Works' REAL Pressure Point Is Rising Costs Versus Rate Recovery

American Water reported a solid 2025 performance, with adjusted earnings of $5.64 per share compared with $5.18 per share in 2024, placing results...

Baptista Research

American Water And Essential Utilities: The Mega-Utility Deal Shaking Up Investors!

American Water Works has taken a transformative step by agreeing to acquire Essential Utilities in an all-stock merger that would create the...

Baptista Research

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