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>Champion Homes is demonstrating solid financial progress and strategic agility in an uncertain market, as detailed in their latest earnings review.</li><li>For fiscal year 2025, the company reported significant growth with over 26,000 homes provided to customers, marking a 19% increase in homes sold year-over-year and a 23% rise in revenue, culminating in $2.5 billion in sales.</li><li>These advances reflect successful execution of strategic priorities, such as enhancing product offerings and expanding retail capabilities.</li></ul>

Champion Homes is demonstrating solid financial progress and strategic agility in an uncertain market, as detailed in their latest earnings review.For fiscal year 2025, the company reported significant growth with over 26,000 homes provided to customers, marking a 19% increase in homes sold year-over-year and a 23% rise in revenue, culminating in $2.5 billion in sales.These advances reflect successful execution of strategic priorities, such as enhancing product offerings and expanding retail capabilities.

Champion Homes Surge: U.S. Factory-Built Housing Boom Powers Profit Potential!

<ul><li>Champion Homes reported its third-quarter fiscal performance, showing strong execution across sales, retail, and manufacturing teams.</li><li>Year-over-year net sales increased by 15.3% to $645 million, with a 13% increase in homes sold, totaling 6,646 units.</li><li>The revenue saw a sequential rise of $28 million from the previous quarter.</li></ul>

Champion Homes reported its third-quarter fiscal performance, showing strong execution across sales, retail, and manufacturing teams.Year-over-year net sales increased by 15.3% to $645 million, with a 13% increase in homes sold, totaling 6,646 units.The revenue saw a sequential rise of $28 million from the previous quarter.

Champion Homes Strikes Gold With Government Partnerships—Will It Be Able To Capitalize On The Expected Growth In The Housing Market!

<ul><li>Champion Homes showcased a robust performance in the second quarter of fiscal 2025, highlighting several strategic advancements and operational efficiencies, although not without challenges.</li><li>The company's net sales saw a substantial year-over-year increase of 33% to $617 million, significantly boosted by a 37% rise in U.S. factory-built housing revenue.</li><li>This growth was predominantly driven by a 31% increase in the U.S. homes sold, aided by the augmented retail and manufacturing capacity following the Regional Homes acquisition, which alone contributed $148 million to the quarter's net sales.</li></ul>

Champion Homes showcased a robust performance in the second quarter of fiscal 2025, highlighting several strategic advancements and operational efficiencies, although not without challenges.The company's net sales saw a substantial year-over-year increase of 33% to $617 million, significantly boosted by a 37% rise in U.S. factory-built housing revenue.This growth was predominantly driven by a 31% increase in the U.S. homes sold, aided by the augmented retail and manufacturing capacity following the Regional Homes acquisition, which alone contributed $148 million to the quarter's net sales.

Champion Homes: Can Its Mergers & Acquisitions Strategy Serve As A Growth Factor? - Major Drivers

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

Apollo Global Management  / Index Rebalance

<ul>
<li>There are 2 changes for the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a>, 2 changes for the S&amp;P Midcap400 Index and 6 changes for the S&amp;P SmallCap600 Index at the December rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/apollo-global-management-inc" target="_blank" data-smartkarma-citation="entities:28770:1" rel="noopener">Apollo Global</a> and <a href="https://www.smartkarma.com/entities/workday-inc-class-a" target="_blank" data-smartkarma-citation="entities:5660:1" rel="noopener">Workday</a> will have large flows from <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a> trackers while<a href="https://www.smartkarma.com/entities/applovin-corp" target="_blank" data-smartkarma-citation="entities:32989:1" rel="noopener"> AppLovin</a> misses out. The SPX adds will have large inflows from the Select Sector index trackers too.</li>
<li>The outright adds are up a lot in the after-hours and there could be further upside over the next couple of weeks as positioning ramps up.</li>
</ul>


There are 2 changes for the S&amp;P 500 INDEX, 2 changes for the S&amp;P Midcap400 Index and 6 changes for the S&amp;P SmallCap600 Index at the December rebalance.

Apollo Global and Workday will have large flows from S&amp;P 500 INDEX trackers while AppLovin misses out. The SPX adds will have large inflows from the Select Sector index trackers too.
The outright adds are up a lot in the after-hours and there could be further upside over the next couple of weeks as positioning ramps up.


S&P500/400/600 Index Rebalance: Apollo Global, Workday Added to SPX; AppLovin Misses Out

<ul><li>Skyline Champion reported robust financial performance for the first quarter of fiscal 2025, building on the solid momentum from the previous quarter.</li><li>The company successfully leveraged strategic acquisitions, deepened its market penetration through enhanced customer channel engagement, and capitalized on a joint venture to bolster finance accessibility for its customers.</li><li>These strategic moves align with the rising demand for affordable housing amid a tight supply environment, positioning Skyline Champion as a key player in the manufactured housing market.</li></ul>

Skyline Champion reported robust financial performance for the first quarter of fiscal 2025, building on the solid momentum from the previous quarter.The company successfully leveraged strategic acquisitions, deepened its market penetration through enhanced customer channel engagement, and capitalized on a joint venture to bolster finance accessibility for its customers.These strategic moves align with the rising demand for affordable housing amid a tight supply environment, positioning Skyline Champion as a key player in the manufactured housing market.

Skyline Champion Corporation: How Will It Deal With Market Penetration Risks & Other Challenges? - Major Drivers

United States

Skyline Champion Corporation independent publicly traded factory-built housing company. The Company designs, produces, and markets manufactured and modular homes, park models, and modular buildings for the multi-family, hospitality, senior, and workforce housing sectors. Skyline Champion serves customers in the United States and Canada.

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Skyline Champion (SKY US)

Champion Homes Surge: U.S. Factory-Built Housing Boom Powers Profit Potential!

Champion Homes is demonstrating solid financial progress and strategic agility in an uncertain market, as detailed in their latest earnings...

Baptista Research

Champion Homes Strikes Gold With Government Partnerships—Will It Be Able To Capitalize On The Expected Growth In The Housing Market!

Champion Homes reported its third-quarter fiscal performance, showing strong execution across sales, retail, and manufacturing...

Baptista Research

Champion Homes: Can Its Mergers & Acquisitions Strategy Serve As A Growth Factor? - Major Drivers

Champion Homes showcased a robust performance in the second quarter of fiscal 2025, highlighting several strategic advancements and operational...

Baptista Research

S&P500/400/600 Index Rebalance: Apollo Global, Workday Added to SPX; AppLovin Misses Out

There are 2 changes for SnP500, 2 for SnP400 and 6 for SnP600. The outright adds are up big in the after-hours market. There will be more flows for...

Brian Freitas

Skyline Champion Corporation: How Will It Deal With Market Penetration Risks & Other Challenges? - Major Drivers

Skyline Champion reported robust financial performance for the first quarter of fiscal 2025, building on the solid momentum from the previous...

Baptista Research

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