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>This is our first report on bedding and other specialty products manufacturer, Leggett & Platt.</li><li>The company has been facing some tough times but its management seems to remain optimistic amid challenging circumstances.</li><li>While lower volumes in residential end markets and certain pricing responses have elicited predictions of lower earnings for 2024 from the company, other factors like the advancement of key product growth and improvement in profitability, accompanying a refocused bedding strategy are cause for increased optimism.</li></ul>

This is our first report on bedding and other specialty products manufacturer, Leggett & Platt.The company has been facing some tough times but its management seems to remain optimistic amid challenging circumstances.While lower volumes in residential end markets and certain pricing responses have elicited predictions of lower earnings for 2024 from the company, other factors like the advancement of key product growth and improvement in profitability, accompanying a refocused bedding strategy are cause for increased optimism.

Leggett & Platt Incorporated: Initiation Of Coverage - These 4 Pivotal Factors Are Driving Its Future Performance! - Financial Forecasts

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>Steelcase delivered a solid fourth quarter and provided guidance consistent with our pre-release outlook.</li><li>Orders and pre-order customer activity remains positive. The results confirm that the post-pandemic slump in office furniture is ending, if not over.</li><li>Corporate customers are more active, particularly in the US.</li></ul>

Steelcase delivered a solid fourth quarter and provided guidance consistent with our pre-release outlook.Orders and pre-order customer activity remains positive. The results confirm that the post-pandemic slump in office furniture is ending, if not over.Corporate customers are more active, particularly in the US.

Furniture/Furnishings Weekly - SCS Results In Line; Home Sales Surprise on the Upside

<ul>
<li>Office furniture will be in our spotlight for the next two weeks.</li>
<li>Steelcase reports 4QFY24 on Thursday, March 21 after the close and MillerKnoll reports its 3QFY24 on Wednesday, March 27 after the close.</li>
<li>Earlier this month, a Bloomberg News Service article highlighted competition in task seating, which is among the most profitable and important categories for industry players.</li>
</ul>


Office furniture will be in our spotlight for the next two weeks.
Steelcase reports 4QFY24 on Thursday, March 21 after the close and MillerKnoll reports its 3QFY24 on Wednesday, March 27 after the close.
Earlier this month, a Bloomberg News Service article highlighted competition in task seating, which is among the most profitable and important categories for industry players.


Furniture/Furnishings Weekly - Contract Furniture and Office Seating in the Spotlight

<ul><li>Earnings from Culp, Arhaus, and Techtronic Industries led the sector news last week.</li><li>Culp reported $60.4 million in revenue and a $1.74 million loss on the operating line.</li><li>The revenue number was in line with our expectations and up 15% Y/Y. </li></ul>

Earnings from Culp, Arhaus, and Techtronic Industries led the sector news last week.Culp reported $60.4 million in revenue and a $1.74 million loss on the operating line.The revenue number was in line with our expectations and up 15% Y/Y. 

Furniture/Furnishings Weekly - Earnings Beat Expectations, but Mostly Lower Than Last Year

<ul><li>After a quiet week in the sector, three earnings reports will get the attention of investors in the furniture/furnishings space this week.</li><li>Culp Inc. will report its 3QFY24 results after the close on Wednesday, March 6 and host an investor call at 11:00 am on Thursday, March 7.</li><li>We expect EPS of a loss of $0.22 on revenue of $60 million. Consensus is EPS of a loss of $0.19 on revenue of $59.5 million.</li></ul>

After a quiet week in the sector, three earnings reports will get the attention of investors in the furniture/furnishings space this week.Culp Inc. will report its 3QFY24 results after the close on Wednesday, March 6 and host an investor call at 11:00 am on Thursday, March 7.We expect EPS of a loss of $0.22 on revenue of $60 million. Consensus is EPS of a loss of $0.19 on revenue of $59.5 million.

Furniture/Furnishings Weekly - Focus on Three Earnings Reports This Week

United States

Leggett & Platt, Incorporated manufactures a wide range of engineered products. The Company's products include components for bedding, furniture, and other residential furnishings, as well as office and institutional furnishings components, retail store fixtures, and displays, specialty wire products, and automotive seating suspension and lumbar systems.

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Leggett & Platt (LEG US)

Leggett & Platt Incorporated: Initiation Of Coverage - These 4 Pivotal Factors Are Driving Its Future Performance! - Financial Forecasts

This is our first report on bedding and other specialty products manufacturer, Leggett & Platt. The company has been facing some tough times...

Baptista Research

Furniture/Furnishings Weekly - SCS Results In Line; Home Sales Surprise on the Upside

Steelcase delivered a solid fourth quarter and provided guidance consistent with our pre-release outlook. Orders and pre-order customer activity...

Water Tower Research

Furniture/Furnishings Weekly - Contract Furniture and Office Seating in the Spotlight

Steelcase reports 4QFY24 on Thursday, March 21 after the close and MillerKnoll reports its 3QFY24 on Wednesday, March 27 after the close.

Water Tower Research

Furniture/Furnishings Weekly - Earnings Beat Expectations, but Mostly Lower Than Last Year

Earnings from Culp, Arhaus, and Techtronic Industries led the sector news last week. Culp reported $60.4 million in revenue and a $1.74 million...

Water Tower Research

Furniture/Furnishings Weekly - Focus on Three Earnings Reports This Week

After a quiet week in the sector, three earnings reports will get the attention of investors in the furniture/furnishings space this week.

Water Tower Research

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