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>Baker Hughes is reportedly nearing a $13.6 billion all-cash acquisition of Chart Industries, potentially derailing Chart's previously announced all-stock merger with Flowserve.</li><li>The proposed deal, which values Chart at $210 per share—a 22% premium to its latest closing price—marks a significant strategic pivot by Baker Hughes toward enhancing its footprint in liquefied natural gas (LNG), nuclear energy, and digital infrastructure, particularly data centers.</li><li>By superseding the $19 billion Flowserve-Chart merger agreement from June, Baker Hughes aims to consolidate its position in high-growth, energy-adjacent sectors through vertical integration and technology enhancement.</li></ul>

Baker Hughes is reportedly nearing a $13.6 billion all-cash acquisition of Chart Industries, potentially derailing Chart's previously announced all-stock merger with Flowserve.The proposed deal, which values Chart at $210 per share—a 22% premium to its latest closing price—marks a significant strategic pivot by Baker Hughes toward enhancing its footprint in liquefied natural gas (LNG), nuclear energy, and digital infrastructure, particularly data centers.By superseding the $19 billion Flowserve-Chart merger agreement from June, Baker Hughes aims to consolidate its position in high-growth, energy-adjacent sectors through vertical integration and technology enhancement.

Baker Hughes Eyes Chart Industries: A $13.6 Billion Bet On LNG & Digital Power

<ul><li>Baker Hughes Company demonstrated a strong performance in its second quarter of 2025, showing resilience and adaptability in a shifting macroeconomic and industry landscape.</li><li>The company's adjusted EBITDA rose to $1.21 billion, reflecting a 170 basis point improvement in margins compared to the previous year, driven by effective cost management and improved operational execution.</li><li>This marks the 10th consecutive quarter of meeting or exceeding midpoint EBITDA guidance, emphasizing a consistent streak of reliable financial performance which indicates strong execution across its segments despite broader industry challenges.</li></ul>

Baker Hughes Company demonstrated a strong performance in its second quarter of 2025, showing resilience and adaptability in a shifting macroeconomic and industry landscape.The company's adjusted EBITDA rose to $1.21 billion, reflecting a 170 basis point improvement in margins compared to the previous year, driven by effective cost management and improved operational execution.This marks the 10th consecutive quarter of meeting or exceeding midpoint EBITDA guidance, emphasizing a consistent streak of reliable financial performance which indicates strong execution across its segments despite broader industry challenges.

Baker Hughes Breaks Into Booming Data & Clean Energy Markets—Is Oil Just the Beginning?

<ul><li>Baker Hughes Company delivered strong results in the first quarter of 2025, with adjusted EBITDA reaching $1.04 billion, marking a 10% year-over-year increase.</li><li>The performance was driven primarily by the Industrial & Energy Technology (IET) segment, which experienced significant growth and contributed to the company's overall margin expansion.</li><li>Revenues for the quarter hit a record, supported by effective operational execution and strategic transformations, despite a challenging macroeconomic backdrop marked by geopolitical tensions, tariff uncertainties, and fluctuating oil prices.</li></ul>

Baker Hughes Company delivered strong results in the first quarter of 2025, with adjusted EBITDA reaching $1.04 billion, marking a 10% year-over-year increase.The performance was driven primarily by the Industrial & Energy Technology (IET) segment, which experienced significant growth and contributed to the company's overall margin expansion.Revenues for the quarter hit a record, supported by effective operational execution and strategic transformations, despite a challenging macroeconomic backdrop marked by geopolitical tensions, tariff uncertainties, and fluctuating oil prices.

Baker Hughes: Supply Chain Strategy & Tariff Mitigation to Safeguard Earnings Potential & Maintain Steady Operations!

<ul><li>Baker Hughes Company (Baker Hughes) presented a strong performance in the fourth quarter of 2024, showing notable growth across several financial metrics, yet managing challenges characteristic of the energy and industrial sectors.</li><li>The company exceeded the midpoint of its earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance for the eighth consecutive quarter.</li><li>The fourth quarter set new records for revenue, free cash flow, adjusted earnings per share (EPS), and adjusted EBITDA and margins.</li></ul>

Baker Hughes Company (Baker Hughes) presented a strong performance in the fourth quarter of 2024, showing notable growth across several financial metrics, yet managing challenges characteristic of the energy and industrial sectors.The company exceeded the midpoint of its earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance for the eighth consecutive quarter.The fourth quarter set new records for revenue, free cash flow, adjusted earnings per share (EPS), and adjusted EBITDA and margins.

Baker Hughes: Is Its Upstream Shift Enough to Counter Industry Cyclicality? - Major Drivers

<ul><li>Baker Hughes Company's third-quarter earnings call for the fiscal year 2024 highlighted robust financial and operational performance across several fronts.</li><li>The company, a notable player in the oilfield services and equipment (OFSE) and industrial & energy technology (IET) sectors, reported record quarterly EBITDA, marking a continuation of its upward trajectory in profitability.</li><li>The EBITDA margin of 17.5% is the highest since 2017, demonstrating significant efficiency improvements and strong execution.</li></ul>

Baker Hughes Company's third-quarter earnings call for the fiscal year 2024 highlighted robust financial and operational performance across several fronts.The company, a notable player in the oilfield services and equipment (OFSE) and industrial & energy technology (IET) sectors, reported record quarterly EBITDA, marking a continuation of its upward trajectory in profitability.The EBITDA margin of 17.5% is the highest since 2017, demonstrating significant efficiency improvements and strong execution.

Baker Hughes Company:  Driving Growth Through Technology and Services Integration! - Major Drivers

United States

Baker Hughes Company provides oilfield products and services. The Company engages in surface logging, drilling, pipeline operations, petroleum engineering, and fertilizer solutions, as well as offers gas turbines, valves, actuators, pumps, flow meters, generators, and motors. Baker Hughes serves oil and gas industries worldwide.

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Baker Hughes (BHGE US)

Baker Hughes Eyes Chart Industries: A $13.6 Billion Bet On LNG & Digital Power

Baker Hughes is reportedly nearing a $13.6 billion all-cash acquisition of Chart Industries, potentially derailing Chart's previously announced...

Baptista Research

Baker Hughes Breaks Into Booming Data & Clean Energy Markets—Is Oil Just the Beginning?

Baker Hughes Company demonstrated a strong performance in its second quarter of 2025, showing resilience and adaptability in a shifting...

Baptista Research

Baker Hughes: Supply Chain Strategy & Tariff Mitigation to Safeguard Earnings Potential & Maintain Steady Operations!

Baker Hughes Company delivered strong results in the first quarter of 2025, with adjusted EBITDA reaching $1.04 billion, marking a 10%...

Baptista Research

Baker Hughes: Is Its Upstream Shift Enough to Counter Industry Cyclicality? - Major Drivers

Baker Hughes Company (Baker Hughes) presented a strong performance in the fourth quarter of 2024, showing notable growth across several financial...

Baptista Research

Baker Hughes Company: Driving Growth Through Technology and Services Integration! - Major Drivers

Baker Hughes Company's third-quarter earnings call for the fiscal year 2024 highlighted robust financial and operational performance across...

Baptista Research

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