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>Howmet Aerospace reported a robust performance in the third quarter of 2025, driven by substantial growth in its core markets.</li><li>The company's revenue increased by 14% year-over-year, with notable contributions from Commercial Aerospace up 15% and Defense Aerospace which grew by 24%.</li><li>The commercial aerospace segment benefitted from a strong demand for engine spares and a significant backlog for fuel-efficient aircraft, while defense growth was propelled by increasing engine spares and new aircraft builds like the F-35.</li></ul>

Howmet Aerospace reported a robust performance in the third quarter of 2025, driven by substantial growth in its core markets.The company's revenue increased by 14% year-over-year, with notable contributions from Commercial Aerospace up 15% and Defense Aerospace which grew by 24%.The commercial aerospace segment benefitted from a strong demand for engine spares and a significant backlog for fuel-efficient aircraft, while defense growth was propelled by increasing engine spares and new aircraft builds like the F-35.

Howmet Aerospace: A Tale Of IGT Expansion & Digital Transformation With A Focus On Automation & AI!

<ul><li>Howmet Aerospace's second quarter of 2025 showcased a combination of strength and areas for improvement, based on their earnings presentation and executive comments.</li><li>Revenue grew by 9% year-over-year to reach $2.53 billion, surpassing prior guidance.</li><li>This is indicative of robust demand across several key markets.</li></ul>

Howmet Aerospace's second quarter of 2025 showcased a combination of strength and areas for improvement, based on their earnings presentation and executive comments.Revenue grew by 9% year-over-year to reach $2.53 billion, surpassing prior guidance.This is indicative of robust demand across several key markets.

Howmet Aerospace: An Insight Into The Defense Sector Growth

<ul><li>Howmet Aerospace's first-quarter earnings in 2025 reflect both strengths and challenges for the company.</li><li>The quarter began with a solid performance across the board, with revenue reaching a record level and improving year over year by 6%.</li><li>The company's operational efficiency contributed to this outcome, as evidenced by its EBITDA margin of 28.8% and operating margin of 25.3%, which increased by 500 basis points compared to the previous year.</li></ul>

Howmet Aerospace's first-quarter earnings in 2025 reflect both strengths and challenges for the company.The quarter began with a solid performance across the board, with revenue reaching a record level and improving year over year by 6%.The company's operational efficiency contributed to this outcome, as evidenced by its EBITDA margin of 28.8% and operating margin of 25.3%, which increased by 500 basis points compared to the previous year.

Howmet Aerospace Fortifies Financial Resilience with Aggressive Tariff Mitigation Strategy; What’s Next?

<ul><li>Howmet Aerospace's third quarter 2024 results demonstrate significant performance gains amidst a complex operating environment.</li><li>The company's revenue growth was substantial at 11% year-over-year, with commercial aerospace driving much of this improvement with a 17% increase in revenue.</li><li>The engine products and fasteners segments excelled, supported by robust structures performance.</li></ul>

Howmet Aerospace's third quarter 2024 results demonstrate significant performance gains amidst a complex operating environment.The company's revenue growth was substantial at 11% year-over-year, with commercial aerospace driving much of this improvement with a 17% increase in revenue.The engine products and fasteners segments excelled, supported by robust structures performance.

Howmet Aerospace: Can its Industrial Gas Turbine (IGT) Expansion Boost Revenue & Margins?

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

IShares Bitcoin Trust ETF / Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>Short-Term support on the SPX is at 6100-6150, 6028-6059, and the 20-day MA, with additional supports at 5804-5854 and 5700-5785.</li>
<li>We view any pullbacks to the these supports as buying opportunities, though we do not expect there to be another test of 5700-5785 any time soon.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
Short-Term support on the SPX is at 6100-6150, 6028-6059, and the 20-day MA, with additional supports at 5804-5854 and 5700-5785.
We view any pullbacks to the these supports as buying opportunities, though we do not expect there to be another test of 5700-5785 any time soon.


Bitcoin Breaking Out; Bullish Outlook Intact; Many Areas Breaking Out or Bottoming: XLY, XME, KRE ++

United States

Howmet Aerospace Inc. provides engineered metal products. The Company offers engines, fasteners, and structures, as well as forged wheels. Howmet Aerospace serves the aerospace and commercial transportation industries.

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Howmet Aerospace (HWM US)

Howmet Aerospace: A Tale Of IGT Expansion & Digital Transformation With A Focus On Automation & AI!

Howmet Aerospace reported a robust performance in the third quarter of 2025, driven by substantial growth in its core markets. The company's...

Baptista Research

Howmet Aerospace: An Insight Into The Defense Sector Growth

Howmet Aerospace's second quarter of 2025 showcased a combination of strength and areas for improvement, based on their earnings presentation and...

Baptista Research

Howmet Aerospace Fortifies Financial Resilience with Aggressive Tariff Mitigation Strategy; What’s Next?

Howmet Aerospace's first-quarter earnings in 2025 reflect both strengths and challenges for the company. The quarter began with a solid...

Baptista Research

Howmet Aerospace: Can its Industrial Gas Turbine (IGT) Expansion Boost Revenue & Margins?

Howmet Aerospace's third quarter 2024 results demonstrate significant performance gains amidst a complex operating environment. The company's...

Baptista Research

Bitcoin Breaking Out; Bullish Outlook Intact; Many Areas Breaking Out or Bottoming: XLY, XME, KRE ++

Bitcoin Breaking Out; Bullish Outlook Intact on $SPX $QQQ $IWM; Many Areas Breaking Out or Bottoming $XLY $XME $KRE $KBE $JETS $ITB $XBI $TAN...

Vermilion Research

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