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>Arcosa, Inc. reported strong financial results for full-year 2025, marked by record revenues of $2.9 billion, a 12% increase year-over-year, and adjusted EBITDA of $583 million, up 30%.</li><li>The company’s adjusted EBITDA margin expanded by 280 basis points to 20.2%, the highest in its history, reflecting solid operational execution and favorable market conditions, particularly within its Construction Materials and Engineered Structures segments.</li><li>Safety performance improved significantly, registering the lowest annual incident rate on record.</li></ul>

Arcosa, Inc. reported strong financial results for full-year 2025, marked by record revenues of $2.9 billion, a 12% increase year-over-year, and adjusted EBITDA of $583 million, up 30%.The company’s adjusted EBITDA margin expanded by 280 basis points to 20.2%, the highest in its history, reflecting solid operational execution and favorable market conditions, particularly within its Construction Materials and Engineered Structures segments.Safety performance improved significantly, registering the lowest annual incident rate on record.

Can Arcosa Convert Its $450 Million Barge Proceeds Into Growth Before Wind Headwinds Deepen?

<ul><li>Arcosa Inc. recently reported a robust performance for the third quarter of 2025, showcasing significant advancement across its business segments.</li><li>The quarter was marked by record-breaking revenue and adjusted EBITDA growth, with revenue increasing by 27% and adjusted EBITDA by 51%, setting new profitability benchmarks for the company.</li><li>This performance reflects the strategic success of Arcosa's portfolio optimization, particularly highlighted by the $1.2 billion acquisition of Stavola, attesting to the strength of its recent business decisions.</li></ul>

Arcosa Inc. recently reported a robust performance for the third quarter of 2025, showcasing significant advancement across its business segments.The quarter was marked by record-breaking revenue and adjusted EBITDA growth, with revenue increasing by 27% and adjusted EBITDA by 51%, setting new profitability benchmarks for the company.This performance reflects the strategic success of Arcosa's portfolio optimization, particularly highlighted by the $1.2 billion acquisition of Stavola, attesting to the strength of its recent business decisions.

Arcosa: Inside the $326M Backlog Story—Is Transportation Products Entering a Powerful Replacement Supercycle?

<ul><li>Arcosa, Inc. reported a strong performance in the second quarter of 2025, characterized by notable revenue growth, significant margin expansion, and improved EBITDA.</li><li>The company’s revenue grew by 18% year-overyear, excluding its divested steel components business, and adjusted EBITDA increased by 42%, reaching a record margin of 20.9%.</li><li>The acquisition of Stavola in October 2024 substantially contributed to this growth, bolstering revenue by 14% and enhancing EBITDA margin by 250 basis points.</li></ul>

Arcosa, Inc. reported a strong performance in the second quarter of 2025, characterized by notable revenue growth, significant margin expansion, and improved EBITDA.The company’s revenue grew by 18% year-overyear, excluding its divested steel components business, and adjusted EBITDA increased by 42%, reaching a record margin of 20.9%.The acquisition of Stavola in October 2024 substantially contributed to this growth, bolstering revenue by 14% and enhancing EBITDA margin by 250 basis points.

Arcosa Inc.: Five Key Obstacles In Its Path In 2025 & Beyond!

<ul><li>Arcosa, Inc. demonstrated substantial progress in 2024, driven by strategic acquisitions and robust financial performance.</li><li>The pivotal acquisitions of Stavola and Ameron significantly expanded Arcosa’s capabilities in key sectors.</li><li>Stavola fortified their presence in the aggregates market, particularly in metropolitan areas, and Ameron enhanced their reach in the lighting poles and traffic signals markets.</li></ul>

Arcosa, Inc. demonstrated substantial progress in 2024, driven by strategic acquisitions and robust financial performance.The pivotal acquisitions of Stavola and Ameron significantly expanded Arcosa’s capabilities in key sectors.Stavola fortified their presence in the aggregates market, particularly in metropolitan areas, and Ameron enhanced their reach in the lighting poles and traffic signals markets.

Arcosa’s Wind Tower Boom: How It’s Overcoming Supply Chain Chaos to Power the Grid!

<ul><li>Arcosa, Inc.'s third-quarter 2024 earnings report highlights several strategic and operational developments reflecting both progress and challenges.</li><li>On the growth front, Arcosa reported strong financial performance, with significant margin expansion attributed to strategic portfolio adjustments and operational efficiencies.</li><li>Adjusted EBITDA grew significantly faster than sales, showcasing improved profitability.</li></ul>

Arcosa, Inc.'s third-quarter 2024 earnings report highlights several strategic and operational developments reflecting both progress and challenges.On the growth front, Arcosa reported strong financial performance, with significant margin expansion attributed to strategic portfolio adjustments and operational efficiencies.Adjusted EBITDA grew significantly faster than sales, showcasing improved profitability.

Arcosa Inc.: An Insight Into Its Barge Capacity Utilization

United States

Arcosa, Inc. provides infrastructure construction services. The Company builds transportation lines, energy projects, and other related properties. Arcosa serves customers in the United States.

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Arcosa (ACA US)

Can Arcosa Convert Its $450 Million Barge Proceeds Into Growth Before Wind Headwinds Deepen?

Arcosa, Inc. reported strong financial results for full-year 2025, marked by record revenues of $2.9 billion, a 12% increase year-over-year, and...

Baptista Research

Arcosa: Inside the $326M Backlog Story—Is Transportation Products Entering a Powerful Replacement Supercycle?

Arcosa Inc. recently reported a robust performance for the third quarter of 2025, showcasing significant advancement across its business...

Baptista Research

Arcosa Inc.: Five Key Obstacles In Its Path In 2025 & Beyond!

Arcosa, Inc. reported a strong performance in the second quarter of 2025, characterized by notable revenue growth, significant margin expansion,...

Baptista Research

Arcosa’s Wind Tower Boom: How It’s Overcoming Supply Chain Chaos to Power the Grid!

Arcosa, Inc. demonstrated substantial progress in 2024, driven by strategic acquisitions and robust financial performance. The pivotal...

Baptista Research

Arcosa Inc.: An Insight Into Its Barge Capacity Utilization

Arcosa, Inc.'s third-quarter 2024 earnings report highlights several strategic and operational developments reflecting both progress and...

Baptista Research

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