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>ESAB Corporation reported a solid second quarter for 2026, highlighted by record total core sales of $766 million, marking a 13% year-over-year increase, and adjusted EBITDA of $150 million, up 8% from the prior year.</li><li>The company experienced a return to organic growth across both its Americas and EMEA/APAC segments, with core organic sales growth of 2.5%.</li><li>Growth was primarily driven by double-digit increases in automation and equipment sales, supported by robust demand from North America and Asia.</li></ul>

ESAB Corporation reported a solid second quarter for 2026, highlighted by record total core sales of $766 million, marking a 13% year-over-year increase, and adjusted EBITDA of $150 million, up 8% from the prior year.The company experienced a return to organic growth across both its Americas and EMEA/APAC segments, with core organic sales growth of 2.5%.Growth was primarily driven by double-digit increases in automation and equipment sales, supported by robust demand from North America and Asia.

ESAB’s Record $766 Million Quarter — Equipment Growth Is Accelerating!

<ul><li>ESAB Corporation reported a 10% year-over-year increase in total core sales for the first quarter of 2026, reaching $715 million, alongside a 6% rise in adjusted EBITDA to $136 million with a margin of 19%.</li><li>This performance came despite challenges such as higher costs linked to the conflict in Iran, which impacted margins by approximately 70 basis points.</li><li>The company’s diversified global footprint and compounder strategy contributed to resilience amid these headwinds.</li></ul>

ESAB Corporation reported a 10% year-over-year increase in total core sales for the first quarter of 2026, reaching $715 million, alongside a 6% rise in adjusted EBITDA to $136 million with a margin of 19%.This performance came despite challenges such as higher costs linked to the conflict in Iran, which impacted margins by approximately 70 basis points.The company’s diversified global footprint and compounder strategy contributed to resilience amid these headwinds.

ESAB’s Eddyfi Deal: Can A 65% Gross Margin Asset Reshape The Story?

<ul><li>ESAB Corporation recently made headlines with its definitive agreement to acquire Canadian non-destructive testing and monitoring leader Eddyfi Technologies in a $1.45 billion deal.</li><li>The acquisition is a pivotal move in ESAB’s strategic journey to evolve from a welding and fabrication player into a broader industrial technology platform.</li><li>Announced alongside its Q4 2025 results, this transaction underscores ESAB’s long-term strategy to reduce cyclicality, elevate margins, and integrate vertically into adjacent parts of the value chain.</li></ul>

ESAB Corporation recently made headlines with its definitive agreement to acquire Canadian non-destructive testing and monitoring leader Eddyfi Technologies in a $1.45 billion deal.The acquisition is a pivotal move in ESAB’s strategic journey to evolve from a welding and fabrication player into a broader industrial technology platform.Announced alongside its Q4 2025 results, this transaction underscores ESAB’s long-term strategy to reduce cyclicality, elevate margins, and integrate vertically into adjacent parts of the value chain.

ESAB Is Buying Eddyfi — This Acquisition Could Reshape Its Entire Business Model!

<ul><li>ESAB Corporation's third-quarter financial performance for 2025 showcased a return to organic growth and demonstrated resilience across its global operations.</li><li>The company achieved an 8% increase in total sales to $687 million, with organic sales rising by 2% year-over-year.</li><li>This growth reflects sequential improvement in the Americas and robust performance in the EMEA and APAC regions, particularly within high-growth markets.</li></ul>

ESAB Corporation's third-quarter financial performance for 2025 showcased a return to organic growth and demonstrated resilience across its global operations.The company achieved an 8% increase in total sales to $687 million, with organic sales rising by 2% year-over-year.This growth reflects sequential improvement in the Americas and robust performance in the EMEA and APAC regions, particularly within high-growth markets.

ESAB Corporation Goes All-In on Smart Welding—Can It Build The Future of Industrial Automation?

<ul><li>The second quarter results for ESAB display both strengths and challenges, offering a balanced outlook on the company's current position and future trajectory.</li><li>ESAB reported a total sales growth of 2% and achieved a record adjusted EBITDA margin of 20.4%, highlighting strong operational performance.</li><li>This robust margin performance is attributed to the company's disciplined execution of its strategies and the ability to navigate a challenging market environment.</li></ul>

The second quarter results for ESAB display both strengths and challenges, offering a balanced outlook on the company's current position and future trajectory.ESAB reported a total sales growth of 2% and achieved a record adjusted EBITDA margin of 20.4%, highlighting strong operational performance.This robust margin performance is attributed to the company's disciplined execution of its strategies and the ability to navigate a challenging market environment.

ESAB’s New Revolutionary React Welding Tech & 5 Major Challenges In Its Path!

United States

ESAB Corporation manufactures welding and cutting equipment. The Company offers filler metals, arc welding equipment, plasma, and gas apparatus machinery. ESAB serves clients worldwide.

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Esab (ESAB US)

ESAB’s Record $766 Million Quarter — Equipment Growth Is Accelerating!

ESAB Corporation reported a solid second quarter for 2026, highlighted by record total core sales of $766 million, marking a 13% year-over-year...

Baptista Research

ESAB’s Eddyfi Deal: Can A 65% Gross Margin Asset Reshape The Story?

ESAB Corporation reported a 10% year-over-year increase in total core sales for the first quarter of 2026, reaching $715 million, alongside a 6%...

Baptista Research

ESAB Is Buying Eddyfi — This Acquisition Could Reshape Its Entire Business Model!

ESAB Corporation recently made headlines with its definitive agreement to acquire Canadian non-destructive testing and monitoring leader Eddyfi...

Baptista Research

ESAB Corporation Goes All-In on Smart Welding—Can It Build The Future of Industrial Automation?

ESAB Corporation's third-quarter financial performance for 2025 showcased a return to organic growth and demonstrated resilience across its global...

Baptista Research

ESAB’s New Revolutionary React Welding Tech & 5 Major Challenges In Its Path!

The second quarter results for ESAB display both strengths and challenges, offering a balanced outlook on the company's current position and...

Baptista Research

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