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>AutoNation Incorporated delivered a robust performance in the first quarter of 2025, marked by notable achievements across several business areas.</li><li>The company saw significant growth in new vehicle unit sales, with a 7% increase year-over-year, buoyed by strong performance in the Premium Luxury, Domestic, and Import segments.</li><li>This growth was partly attributed to an acceleration following a tariff announcement, showcasing AutoNation's agility in navigating external economic factors.</li></ul>

AutoNation Incorporated delivered a robust performance in the first quarter of 2025, marked by notable achievements across several business areas.The company saw significant growth in new vehicle unit sales, with a 7% increase year-over-year, buoyed by strong performance in the Premium Luxury, Domestic, and Import segments.This growth was partly attributed to an acceleration following a tariff announcement, showcasing AutoNation's agility in navigating external economic factors.

AutoNation: Competitive Pricing & Dealer Partnerships to Ensure Market Resilience & Preserve Profitability?

<ul><li>AutoNation recently concluded its 2024 fiscal year with a notably strong fourth quarter, highlighted by a 12% growth in same-store new unit volume.</li><li>This growth bodes well for the company’s After-Sales and Financial Services segments, vital as they contribute approximately 75% of AutoNation’s gross profit.</li><li>After Sales experienced a 5% growth in same-store gross profit, with an improvement in gross margin by 110 basis points, suggesting strong operational efficiency.</li></ul>

AutoNation recently concluded its 2024 fiscal year with a notably strong fourth quarter, highlighted by a 12% growth in same-store new unit volume.This growth bodes well for the company’s After-Sales and Financial Services segments, vital as they contribute approximately 75% of AutoNation’s gross profit.After Sales experienced a 5% growth in same-store gross profit, with an improvement in gross margin by 110 basis points, suggesting strong operational efficiency.

AutoNation Inc.: An Analysis Of The Used Vehicle Market Dynamics & Major Growth Drivers!

<ul><li>AutoNation Inc.’s third-quarter fiscal 2024 earnings reflect a complex performance landscape, balancing several high points with notable operational challenges.</li><li>The company operates in a volatile industry environment, navigating economic headwinds while implementing strategies to ensure steady growth and sustained profitability.</li><li>AutoNation marked progress in new vehicle sales, showcasing a recovery in market share.</li></ul>

AutoNation Inc.’s third-quarter fiscal 2024 earnings reflect a complex performance landscape, balancing several high points with notable operational challenges.The company operates in a volatile industry environment, navigating economic headwinds while implementing strategies to ensure steady growth and sustained profitability.AutoNation marked progress in new vehicle sales, showcasing a recovery in market share.

AutoNation Inc.: Strategic Capital Allocation Driving Our Optimism! - Major Drivers

<ul><li>AutoNation's second quarter of 2024 experienced significant disruptions due to an outage at CDK, a key operational systems provider, which considerably affected their results.</li><li>Despite these challenges, AutoNation's CEO, Mike Manley, acknowledged that the quarter began positively, with new vehicle sales up by approximately 5% during April and May.</li><li>However, the CDK outage in June severely impacted multiple business operations, leading to a direct negative impact of about $1.55 per share on their quarterly results.</li></ul>

AutoNation's second quarter of 2024 experienced significant disruptions due to an outage at CDK, a key operational systems provider, which considerably affected their results.Despite these challenges, AutoNation's CEO, Mike Manley, acknowledged that the quarter began positively, with new vehicle sales up by approximately 5% during April and May.However, the CDK outage in June severely impacted multiple business operations, leading to a direct negative impact of about $1.55 per share on their quarterly results.

AutoNation Inc.: Diversification and Innovation in Financing Solutions Catalyzing Growth! - Major Drivers

Analyst

Steve

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-meidong-auto-holdings-limited" target="_blank" data-smartkarma-citation="entities:10795:1" rel="noopener">China MeiDong Auto (1268 HK)</a> announced a profit warning this morning, expecting a 90% decline in net profit for 1H23.  </li>
<li>Luxury auto dealer in China is facing major uncertainties in its business model, with no visibility in the near term.  </li>
<li>However, <a href="https://www.smartkarma.com/entities/zhongsheng-group-holdings" target="_blank" data-smartkarma-citation="entities:10573:1" rel="noopener">Zhongsheng Group (881 HK)</a> currently employs the best long-term strategy amidst industry transformation.  Suggest to keep a close eye on the name. </li>
</ul>



China MeiDong Auto (1268 HK) announced a profit warning this morning, expecting a 90% decline in net profit for 1H23.  
Luxury auto dealer in China is facing major uncertainties in its business model, with no visibility in the near term.  
However, Zhongsheng Group (881 HK) currently employs the best long-term strategy amidst industry transformation.  Suggest to keep a close eye on the name. 


Zhongsheng Group (881 HK):  Could Be A Winner In The Long Run, But No Short-Term Visibility

United States

AutoNation, Inc. retails, finances, and services new and used vehicles.  The Company also provides other related services and products, such as the sale of parts and accessories, extended service contracts, aftermarket automotive products, and collision repair services.  AutoNation operates throughout the United States.

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Autonation Inc (AN US)

AutoNation: Competitive Pricing & Dealer Partnerships to Ensure Market Resilience & Preserve Profitability?

AutoNation Incorporated delivered a robust performance in the first quarter of 2025, marked by notable achievements across several business...

Baptista Research

AutoNation Inc.: An Analysis Of The Used Vehicle Market Dynamics & Major Growth Drivers!

AutoNation recently concluded its 2024 fiscal year with a notably strong fourth quarter, highlighted by a 12% growth in same-store new unit...

Baptista Research

AutoNation Inc.: Strategic Capital Allocation Driving Our Optimism! - Major Drivers

AutoNation Inc.’s third-quarter fiscal 2024 earnings reflect a complex performance landscape, balancing several high points with notable...

Baptista Research

AutoNation Inc.: Diversification and Innovation in Financing Solutions Catalyzing Growth! - Major Drivers

AutoNation's second quarter of 2024 experienced significant disruptions due to an outage at CDK, a key operational systems provider, which...

Baptista Research

Zhongsheng Group (881 HK): Could Be A Winner In The Long Run, But No Short-Term Visibility

Meidong profit warning. Luxury auto dealer's business model in China is facing major uncertainties, with no visibility in the near term.

Steve

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