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>Clean Harbors, Inc. recently reported its Q2 2025 financial results, highlighting both strong performance metrics and areas of strategic focus moving forward.</li><li>Clean Harbors achieved its best-ever quarterly Total Recordable Incident Rate (TRIR) at 0.40, showcasing its commitment to safety and operational excellence.</li><li>This impressive safety measure is complemented by the company’s focus on efficient operations, which contributed to a consolidated adjusted EBITDA margin uptick by 60 basis points to 21.7%.</li></ul>

Clean Harbors, Inc. recently reported its Q2 2025 financial results, highlighting both strong performance metrics and areas of strategic focus moving forward.Clean Harbors achieved its best-ever quarterly Total Recordable Incident Rate (TRIR) at 0.40, showcasing its commitment to safety and operational excellence.This impressive safety measure is complemented by the company’s focus on efficient operations, which contributed to a consolidated adjusted EBITDA margin uptick by 60 basis points to 21.7%.

Clean Harbors Boosts Margins Without Turnaround Reliance—How Are They Pulling It Off?

<ul><li>Clean Harbors displayed a solid performance in the first quarter of 2025, with the financial results exceeding expectations primarily due to the Environmental Services (ES) and Safety-Kleen Sustainability Solutions (SKSS) segments.</li><li>Positives in the results include a 4% revenue growth with significant contributions from the acquisition of HEPACO and increased incineration utilization.</li><li>The robust safety performance, represented by a record low total recordable incident rate, further underscores the company’s commitment to operational excellence.</li></ul>

Clean Harbors displayed a solid performance in the first quarter of 2025, with the financial results exceeding expectations primarily due to the Environmental Services (ES) and Safety-Kleen Sustainability Solutions (SKSS) segments.Positives in the results include a 4% revenue growth with significant contributions from the acquisition of HEPACO and increased incineration utilization.The robust safety performance, represented by a record low total recordable incident rate, further underscores the company’s commitment to operational excellence.

Clean Harbors: Per- and Polyfluoroalkyl Substances (PFAS) Regulation & Growth To Catalyze Its Expansion Within The Segment!

Global Editor, Base Oil News

Iain Pocock

Global Editor

Global Base Oils and Lubricants Markets

Base Oil News

Base Oil News focuses on the interplay between fundamentals and prices in the global base oils and lubricants markets.

Baseoilnews.com combines daily, weekly and monthly base oils and lubes fundamentals data from every region of the world to build the most comprehensive and up-to-date global picture of the state of the market.

The data and analysis provide key tools to understand current market developments and opportunities and to anticipate how the market is likely to behave in the coming months.

Base oils producers, lube blenders and consumers can then better plan accordingly.

Baseoilnews.com analyses and publishes market news and data every day as it breaks.

Commodities

<ul><li>Global base oils prices hold firm or rise vs feedstock/competing fuel prices.</li><li>Base oils margins hold firm at time of year when supply-demand fundamentals are typically weaker.</li><li>Firm base oils margins instead point to stronger-than-usual fundamentals for time of year.</li></ul>

Global base oils prices hold firm or rise vs feedstock/competing fuel prices.Base oils margins hold firm at time of year when supply-demand fundamentals are typically weaker.Firm base oils margins instead point to stronger-than-usual fundamentals for time of year.

Global base oils margins outlook: Week of 18 August

<ul><li>US Group II base oils export prices weaken versus FOB Asia Group II prices in Q3 2025.</li><li>Prices weaken at time of year when FOB Asia Group II prices typically fall versus US prices.</li><li>Asia prices typically fall to help to avoid or to clear surplus volumes at time of year when regional demand faces seasonal slowdown.</li></ul>

US Group II base oils export prices weaken versus FOB Asia Group II prices in Q3 2025.Prices weaken at time of year when FOB Asia Group II prices typically fall versus US prices.Asia prices typically fall to help to avoid or to clear surplus volumes at time of year when regional demand faces seasonal slowdown.

Global base oils arb outlook: Week of 18 August

<ul><li>US Group II domestic base oils price-premium to feedstock prices holds steady in narrow range, even if down from year-earlier levels.</li><li>Steady margins could get additional support from any further drop in crude oil prices.</li><li>Steadier margins curb incentive for refiners to trim output.</li></ul>

US Group II domestic base oils price-premium to feedstock prices holds steady in narrow range, even if down from year-earlier levels.Steady margins could get additional support from any further drop in crude oil prices.Steadier margins curb incentive for refiners to trim output.

Americas/EMEA base oils supply outlook: Week of 18 August

United States

Clean Harbors, Inc. provides a variety of environmental remediation and industrial waste management services to customers in the United States and Puerto Rico.  The Company's services include treatment and disposal of hazardous and non-hazardous solid and liquid waste, surface remediation, groundwater restoration, waste packaging, as well as analytical testing and consulting.

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Clean Harbors (CLH US)

Clean Harbors Boosts Margins Without Turnaround Reliance—How Are They Pulling It Off?

Clean Harbors, Inc. recently reported its Q2 2025 financial results, highlighting both strong performance metrics and areas of strategic focus...

Baptista Research

Clean Harbors: Per- and Polyfluoroalkyl Substances (PFAS) Regulation & Growth To Catalyze Its Expansion Within The Segment!

Clean Harbors displayed a solid performance in the first quarter of 2025, with the financial results exceeding expectations primarily due to the...

Baptista Research

Global base oils margins outlook: Week of 18 August

Global base oils prices hold firm or rise vs feedstock/competing fuel prices. Base oils margins hold firm at time of year when supply-demand...

Base Oil News

Global base oils arb outlook: Week of 18 August

US Group II base oils export prices weaken versus FOB Asia Group II prices in Q3 2025. Prices weaken at time of year when FOB Asia Group II prices...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 18 August

US Group II domestic base oils price-premium to feedstock prices holds steady in narrow range, even if down from year-earlier levels. Steady...

Base Oil News

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52-week Range

Market Cap (USDm)

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