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

Casey's General Stores / Equity Bottom-Up

<ul><li>Casey’s General Stores reported a quarter marked by strong profit growth, steady execution, and continued store expansion, though revenue growth stayed muted because of lower fuel prices.</li><li>Diluted earnings per share rose 50% to $3.49, net income increased 49% to $130 million, and EBITDA climbed 27.5% to $309 million.</li><li>Total revenue was $3.91 billion, up just 0.3% year over year, as lower retail fuel prices offset stronger inside sales and modest fuel volume growth.</li></ul>

Casey’s General Stores reported a quarter marked by strong profit growth, steady execution, and continued store expansion, though revenue growth stayed muted because of lower fuel prices.Diluted earnings per share rose 50% to $3.49, net income increased 49% to $130 million, and EBITDA climbed 27.5% to $309 million.Total revenue was $3.91 billion, up just 0.3% year over year, as lower retail fuel prices offset stronger inside sales and modest fuel volume growth.

Casey's General Stores: A $3.91 Billion Quarter Still Hinges On Fuel Prices

<ul><li>Casey’s General Stores, Inc., reported a strong fiscal second quarter for 2026, showcasing significant growth across various metrics.</li><li>The company’s financial performance was highlighted by a 14% year-over-year increase in diluted earnings per share, reaching $5.53, and net income rose to $206 million.</li><li>EBITDA also saw a notable surge, increasing by 17.5% to $410 million compared to the previous year.</li></ul>

Casey’s General Stores, Inc., reported a strong fiscal second quarter for 2026, showcasing significant growth across various metrics.The company’s financial performance was highlighted by a 14% year-over-year increase in diluted earnings per share, reaching $5.53, and net income rose to $206 million.EBITDA also saw a notable surge, increasing by 17.5% to $410 million compared to the previous year.

Casey’s General Stores: Reinventing the Convenience Model Through Food, Fuel, & Consumer Value!

<ul><li>Casey's General Stores reported strong financial results for the first quarter of fiscal year 2026.</li><li>Diluted earnings per share (EPS) rose by 19% to $5.77, and net income increased by 20% to $215 million, with an EBITDA growth of 20% to $414 million.</li><li>These results were primarily driven by strong in-store performance and successful fuel management strategies.</li></ul>

Casey's General Stores reported strong financial results for the first quarter of fiscal year 2026.Diluted earnings per share (EPS) rose by 19% to $5.77, and net income increased by 20% to $215 million, with an EBITDA growth of 20% to $414 million.These results were primarily driven by strong in-store performance and successful fuel management strategies.

Casey's General Stores: Is Its Competitive Edge Through The Fuel Business Sustainable?

<ul><li>Casey's General Stores' performance in Q4 and the fiscal year 2025 showed promising growth along with some challenges.</li><li>Positively, the company reported record earnings per share for the year, reaching $14.64, a 9% increase over the previous year.</li><li>Net income also increased to a record $547 million, with EBITDA hitting $1.2 billion, reflecting strong financial health.</li></ul>

Casey's General Stores' performance in Q4 and the fiscal year 2025 showed promising growth along with some challenges.Positively, the company reported record earnings per share for the year, reaching $14.64, a 9% increase over the previous year.Net income also increased to a record $547 million, with EBITDA hitting $1.2 billion, reflecting strong financial health.

Casey's General Stores Is Quietly Expanding Across America with Savvy Acquisitions & Culinary Upgrades!

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our outlook remains bullish and we see the market in the midst of a significant end-of-year rally that we have been expecting since mid-October.</li>
<li>We continue to expect support at 20-day MAs on $SPX and Nasdaq 100 (QQQ), while support at current levels or the 50-day MA is likely on the Russell 2000 (IWM).</li>
<li>Market dynamics continue to improve, giving us confidence that this bull run is likely to go at least another month into mid-January, and quite likely beyond.</li>
</ul>


Our outlook remains bullish and we see the market in the midst of a significant end-of-year rally that we have been expecting since mid-October.
We continue to expect support at 20-day MAs on $SPX and Nasdaq 100 (QQQ), while support at current levels or the 50-day MA is likely on the Russell 2000 (IWM).
Market dynamics continue to improve, giving us confidence that this bull run is likely to go at least another month into mid-January, and quite likely beyond.


Growth Leading This EOY Rally; Expect More Upside. PHLX Semis $SOXX With a Bullish 5-Month Reversal

United States

Casey's General Stores, Inc. operates convenience stores in the Midwest.  The Company's stores, operating under the name Casey's General Store, carry a selection of food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items, as well as sells gasoline.

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Casey's General Stores (CASY US)

Casey's General Stores: A $3.91 Billion Quarter Still Hinges On Fuel Prices

Casey’s General Stores reported a quarter marked by strong profit growth, steady execution, and continued store expansion, though revenue growth...

Baptista Research

Casey’s General Stores: Reinventing the Convenience Model Through Food, Fuel, & Consumer Value!

Casey’s General Stores, Inc., reported a strong fiscal second quarter for 2026, showcasing significant growth across various metrics. The...

Baptista Research

Casey's General Stores: Is Its Competitive Edge Through The Fuel Business Sustainable?

Casey's General Stores reported strong financial results for the first quarter of fiscal year 2026. Diluted earnings per share (EPS) rose by 19%...

Baptista Research

Casey's General Stores Is Quietly Expanding Across America with Savvy Acquisitions & Culinary Upgrades!

Casey's General Stores' performance in Q4 and the fiscal year 2025 showed promising growth along with some challenges. Positively, the company...

Baptista Research

Growth Leading This EOY Rally; Expect More Upside. PHLX Semis $SOXX With a Bullish 5-Month Reversal

Growth Leading This EOY Rally $MSFT $AAPL as Tech $XLK Breaks Out; Expect More Upside $ARKK $ARKW $ARKF $BITQ $WGMI. PHLX Semiconductor $SOXX With...

Vermilion Research

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