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>PPL Corporation's third-quarter 2025 financial results present a complex picture of strengths and challenges for potential investors.</li><li>The company reported GAAP earnings of $0.43 per share, with earnings from ongoing operations adjusted to $0.48 per share.</li><li>This reflects a significant improvement from the $0.29 per share recorded in the third quarter of 2024.</li></ul>

PPL Corporation's third-quarter 2025 financial results present a complex picture of strengths and challenges for potential investors.The company reported GAAP earnings of $0.43 per share, with earnings from ongoing operations adjusted to $0.48 per share.This reflects a significant improvement from the $0.29 per share recorded in the third quarter of 2024.

PPL Corporation: How Its Bold Grid Strategy Is Turning Hyperscalers Into Profit Engines!

<ul><li>PPL Corporation recently reported its second-quarter performance and future prospects.</li><li>The company reported GAAP earnings of $0.25 per share for the quarter, which is a minor decrease from $0.26 per share in the same period last year.</li><li>Adjusted earnings, excluding special items related to IT transformation and integration costs, were $0.32 per share, slightly down from the previous year due to expected higher operating costs and unseasonable weather.</li></ul>

PPL Corporation recently reported its second-quarter performance and future prospects.The company reported GAAP earnings of $0.25 per share for the quarter, which is a minor decrease from $0.26 per share in the same period last year.Adjusted earnings, excluding special items related to IT transformation and integration costs, were $0.32 per share, slightly down from the previous year due to expected higher operating costs and unseasonable weather.

PPL Corporation: Robust Capital Investment in Pennsylvania to Ensure Financial Stability Amidst Increasing Industrial Activity!

<ul><li>PPL Corporation recently released its fourth quarter and full year 2024 financial results, offering insights into its financial performance, strategic plans, and future growth projections.</li><li>In 2024, the company reported ongoing earnings per share (EPS) of $1.69, aligning with the initial guidance midpoint despite falling slightly short of the raised guidance of $1.70 due to mild weather in December.</li><li>This figure marks an improvement from 2023's ongoing EPS of $1.60.</li></ul>

PPL Corporation recently released its fourth quarter and full year 2024 financial results, offering insights into its financial performance, strategic plans, and future growth projections.In 2024, the company reported ongoing earnings per share (EPS) of $1.69, aligning with the initial guidance midpoint despite falling slightly short of the raised guidance of $1.70 due to mild weather in December.This figure marks an improvement from 2023's ongoing EPS of $1.60.

PPL Corporation: Dividend Growth Strategy to Pursue Sustainable Business Growth!

<ul><li>PPL Corporation reported its third-quarter 2024 financial results, showing a mixed performance amid ongoing operational initiatives and strategic planning.</li><li>The company posted GAAP earnings of $0.29 per share, slightly down from $0.31 per share in the same quarter of the previous year.</li><li>Adjusted for special items, earnings from ongoing operations were $0.42 per share, a decrease of $0.01 compared to the third quarter of 2023.</li></ul>

PPL Corporation reported its third-quarter 2024 financial results, showing a mixed performance amid ongoing operational initiatives and strategic planning.The company posted GAAP earnings of $0.29 per share, slightly down from $0.31 per share in the same quarter of the previous year.Adjusted for special items, earnings from ongoing operations were $0.42 per share, a decrease of $0.01 compared to the third quarter of 2023.

PPL Corporation:  Successful Integration of Rhode Island Energy & Other Major Drivers

External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>According to news reports, Pakistan is considering deferring 2-3 RLNG cargoes per month (29 in a year) from Qatar under its existing take-or-pay contracts for 9 cargoes per month to address the current gas surplus issues in the country.</li><li>Previously, OGRA in its reports had projected Pakistan gas demand (including RLNG) to surpass 6000mmcfd by 2026. However, due to various foreseeable and inevitable factors, demand/supply have contracted substantially to less than 4,000mmcfd.</li><li>We believe, if 2 cargoes of Qatar are sold in the international market or deferred beyond 2031, this will increase domestic E&Ps volumes to around 3000 mmcfd, suggesting around 70% of the volumes will be recovered.</li></ul>

According to news reports, Pakistan is considering deferring 2-3 RLNG cargoes per month (29 in a year) from Qatar under its existing take-or-pay contracts for 9 cargoes per month to address the current gas surplus issues in the country.Previously, OGRA in its reports had projected Pakistan gas demand (including RLNG) to surpass 6000mmcfd by 2026. However, due to various foreseeable and inevitable factors, demand/supply have contracted substantially to less than 4,000mmcfd.We believe, if 2 cargoes of Qatar are sold in the international market or deferred beyond 2031, this will increase domestic E&Ps volumes to around 3000 mmcfd, suggesting around 70% of the volumes will be recovered.

(Corrected) Pakistan Oil & Gas Exploration: Qatar Cargo Diversion to Help Lift Volumes

United States

PPL Corporation is an energy and utility holding company. The Company, through its subsidiaries, generates electricity from power plants in the northeastern and western United States, and markets wholesale and retail energy primarily in the northeastern and western portions of the United States, and delivers electricity in Pennsylvania and the United Kingdom.

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Ppl Corp (PPL US)

PPL Corporation: How Its Bold Grid Strategy Is Turning Hyperscalers Into Profit Engines!

PPL Corporation's third-quarter 2025 financial results present a complex picture of strengths and challenges for potential investors. The company...

Baptista Research

PPL Corporation: Robust Capital Investment in Pennsylvania to Ensure Financial Stability Amidst Increasing Industrial Activity!

PPL Corporation recently reported its second-quarter performance and future prospects. The company reported GAAP earnings of $0.25 per share for...

Baptista Research

PPL Corporation: Dividend Growth Strategy to Pursue Sustainable Business Growth!

PPL Corporation recently released its fourth quarter and full year 2024 financial results, offering insights into its financial performance,...

Baptista Research

PPL Corporation: Successful Integration of Rhode Island Energy & Other Major Drivers

PPL Corporation reported its third-quarter 2024 financial results, showing a mixed performance amid ongoing operational initiatives and strategic...

Baptista Research

(Corrected) Pakistan Oil & Gas Exploration: Qatar Cargo Diversion to Help Lift Volumes

According to news reports, Pakistan is considering deferring 2-3 RLNG cargoes per month (29 in a year) from Qatar under its existing take-or-pay...

Topline Securities

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