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

C.H. Robinson Worldwide / Equity Bottom-Up

<ul><li>C.H. Robinson delivered mixed quarter four results for 2023 with gross profits of $618.6 million, down by 20% YoY due to a difficult freight market according to the company.</li><li>Total revenue was also down to $4.2 billion.</li><li>In terms of productivity initiatives, some improvements were made with a 17% improvement in North American Surface Transportation (NAST) and a 20% improvement in Global Forwarding.</li></ul>

C.H. Robinson delivered mixed quarter four results for 2023 with gross profits of $618.6 million, down by 20% YoY due to a difficult freight market according to the company.Total revenue was also down to $4.2 billion.In terms of productivity initiatives, some improvements were made with a 17% improvement in North American Surface Transportation (NAST) and a 20% improvement in Global Forwarding.

C.H. Robinson Worldwide - Efforts Towards Cost Reduction For Offsetting Inflation Bearing Fruit? - Major Drivers

<ul><li>C.H.</li><li>Robinson Worldwide, Inc. delivered mixed results for the previous quarter, with revenues below the analyst consensus.</li><li>The managed service business exhibited a route guide depth of 1.15 in Q3, indicating primary freight providers accepting the majority of contractual freight, diminishing spot market opportunities.</li></ul>

C.H.Robinson Worldwide, Inc. delivered mixed results for the previous quarter, with revenues below the analyst consensus.The managed service business exhibited a route guide depth of 1.15 in Q3, indicating primary freight providers accepting the majority of contractual freight, diminishing spot market opportunities.

C.H. Robinson Worldwide Inc.: A Bold Strategy to Transform Global Freight! - Major Drivers

<ul><li>C.H.</li><li>Robinson Worldwide delivered disappointing results as the company could not meet the revenue and earnings expectations of Wall Street.</li><li>The company's truckload and LTL businesses faced varying market conditions, with truckload volumes declining and LTL shipments remaining flat but declining AGP per order.</li></ul>

C.H.Robinson Worldwide delivered disappointing results as the company could not meet the revenue and earnings expectations of Wall Street.The company's truckload and LTL businesses faced varying market conditions, with truckload volumes declining and LTL shipments remaining flat but declining AGP per order.

C.H. Robinson Worldwide Inc.: 3 Catalysts Responsible For Its Growth! - Financial Forecasts

Equity Capital Markets

C.H. Robinson Worldwide / Equity Capital Markets

<ul><li>C.H.</li><li>Robinson had a disappointing result in Q1 and it failed to meet the revenue expectations and earnings expectations of analysts.</li><li>They believe that an increased digitization and automation are critical components of providing an improved client experience and operating leverage.</li></ul>

C.H.Robinson had a disappointing result in Q1 and it failed to meet the revenue expectations and earnings expectations of analysts.They believe that an increased digitization and automation are critical components of providing an improved client experience and operating leverage.

C.H. Robinson Worldwide: Can Automation & Digitization Save The Day? – Major Drivers

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

<ul>
<li>Down 66% from its 2021 IPO price, <a href="https://www.smartkarma.com/entities/full-truck-alliance" target="_blank" data-smartkarma-citation="entities:33429:1" rel="noopener">Full Truck Alliance (YMM US)</a> has been a loser for investors, though we would argue its underlying performance on fundamentals has been mixed</li>
<li>We believe FTA's narrow focus on expanding its lead in China's spot, inter-city FTL trucking market blinds management to the broader role it must pursue to ensure long-term growth</li>
<li>FTA should aggressively funnel users into its Transaction Commission segment and invest in building a Transportation Management Software offering to attract and retain customers</li>
</ul>


Down 66% from its 2021 IPO price, Full Truck Alliance (YMM US) has been a loser for investors, though we would argue its underlying performance on fundamentals has been mixed
We believe FTA's narrow focus on expanding its lead in China's spot, inter-city FTL trucking market blinds management to the broader role it must pursue to ensure long-term growth
FTA should aggressively funnel users into its Transaction Commission segment and invest in building a Transportation Management Software offering to attract and retain customers


Full Truck Alliance: Currently Less Than 'Full Loaded', but Issues Are Fully Fixable

United States

C.H. Robinson Worldwide, Inc. provides multimodal transportation services and logistics solutions. The Company operates a network of offices in North America, Europe, Asia, South America, and the Middle East. C.H. Robinson provides a variety of logistics services, such as fresh produce sourcing and freight consolidation.

C.H. Robinson Worldwide (CHRW US)

C.H. Robinson Worldwide - Efforts Towards Cost Reduction For Offsetting Inflation Bearing Fruit? - Major Drivers

C.H. Robinson delivered mixed quarter four results for 2023 with gross profits of $618.6 million, down by 20% YoY due to a difficult freight...

Baptista Research

C.H. Robinson Worldwide Inc.: A Bold Strategy to Transform Global Freight! - Major Drivers

C.H. Robinson Worldwide, Inc. delivered mixed results for the previous quarter, with revenues below the analyst consensus. The managed service...

Baptista Research

C.H. Robinson Worldwide Inc.: 3 Catalysts Responsible For Its Growth! - Financial Forecasts

C.H. Robinson Worldwide delivered disappointing results as the company could not meet the revenue and earnings expectations of Wall Street. The...

Baptista Research

C.H. Robinson Worldwide: Can Automation & Digitization Save The Day? – Major Drivers

C.H. Robinson had a disappointing result in Q1 and it failed to meet the revenue expectations and earnings expectations of analysts. They believe...

Baptista Research

Full Truck Alliance: Currently Less Than 'Full Loaded', but Issues Are Fully Fixable

FTA's shares are down 66% vs their IPO price, but underlying performance has been mixed. To ensure long-term growth, FTA should follow our two-part...

Tracking Traffic