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>Sunrun Inc.'s second quarter 2024 earnings displayed a strategic dedication to a storage-first approach, reflective of broader transitions and consumer preferences within the solar power industry.</li><li>The company achieved significant progress toward their goal of becoming the trusted provider of renewable energy solutions across America.</li><li>This focus has led to record storage installation rates and a robust increase in customer growth, specifically in adding battery systems to existing setups.</li></ul>

Sunrun Inc.'s second quarter 2024 earnings displayed a strategic dedication to a storage-first approach, reflective of broader transitions and consumer preferences within the solar power industry.The company achieved significant progress toward their goal of becoming the trusted provider of renewable energy solutions across America.This focus has led to record storage installation rates and a robust increase in customer growth, specifically in adding battery systems to existing setups.

Sunrun Inc.: Adopting A Strategic Approach to Market Expansion and Customer Acquisition! - Major Drivers

<ul><li>Sunrun reported a dynamic first quarter of 2024, marked by a strategic emphasis on storage installations complemented by solar capacity, reflecting a broader company transformation towards a storage-first business approach.</li><li>During the period, Sunrun surpassed its guidance expectations for both solar and storage installations, with storage systems installed on 50% of new residential customers, a significant increase from the prior year.</li><li>This surge in storage adoption has notably bolstered the company's margin profile since storage installations tend to carry higher margins compared to traditional solar-only setups.</li></ul>

Sunrun reported a dynamic first quarter of 2024, marked by a strategic emphasis on storage installations complemented by solar capacity, reflecting a broader company transformation towards a storage-first business approach.During the period, Sunrun surpassed its guidance expectations for both solar and storage installations, with storage systems installed on 50% of new residential customers, a significant increase from the prior year.This surge in storage adoption has notably bolstered the company's margin profile since storage installations tend to carry higher margins compared to traditional solar-only setups.

Sunrun Inc.: How Are They Expanding Storage Solutions? - Major Drivers

<ul><li>Sunrun is a renewable energy company that had a strong fourth quarter and a full-year result in 2023.</li><li>The company exceeded its guidance on storage capacity installation and landed in its guidance range on installed solar capacity.</li><li>As a result, there were significant increases in its subscriber values, up 7% from Q3 and 18% year-over-year.</li></ul>

Sunrun is a renewable energy company that had a strong fourth quarter and a full-year result in 2023.The company exceeded its guidance on storage capacity installation and landed in its guidance range on installed solar capacity.As a result, there were significant increases in its subscriber values, up 7% from Q3 and 18% year-over-year.

Sunrun Inc: Improved Demand & Storage Adoption Changing The Game! - Major Drivers

Providing investors with a balanced perspective, Massif Capital

Massif Capital Research

Providing investors with a balanced perspective

Massif Capital

Research focused on providing investors with a balanced perspective on the environmental and economic realities of achieving a carbon-neutral economy for businesses within the Energy, Basic Materials and Industrial industries.

The Massif Capital Real Asset Strategy is a global long/short equity strategy built around bottom-up stock picking. We are focused on creating a portfolio of businesses from within the Energy, Basic Materials and Industrial sectors that balance the environmental and economic realities of achieving a carbon-neutral economy.

Thematic (Sector/Industry)

<div><ul><li>Renewables as extractive industries: Renewable energy sources like wind and solar are extractive industries that depend on the “grade” of the natural resource to achieve sustainability, a three-dimensional concept that includes economics, social acceptance, and environmental considerations.</li><li>The problem of low-grade resources: Deploying renewables in areas where the resource grade is too low imposes macro-level costs on the electrical system and reduces its economic and environmental sustainability through the inefficient deployment of limited resources.</li><li>The problem of high-grade resources: Deploying too many renewables in areas where the resource grade is high causes value deflation, lowers the revenue of the projects, and impairs micro-level sustainability.</li></ul></div>

Renewables as extractive industries: Renewable energy sources like wind and solar are extractive industries that depend on the “grade” of the natural resource to achieve sustainability, a three-dimensional concept that includes economics, social acceptance, and environmental considerations.The problem of low-grade resources: Deploying renewables in areas where the resource grade is too low imposes macro-level costs on the electrical system and reduces its economic and environmental sustainability through the inefficient deployment of limited resources.The problem of high-grade resources: Deploying too many renewables in areas where the resource grade is high causes value deflation, lowers the revenue of the projects, and impairs micro-level sustainability.

<ul><li>Sunrun Inc. delivered a mixed result in the recent quarter, with revenues below market expectations but surpassed the analyst consensus regarding earnings.</li><li>The storage attachment rate surged to over 33% of installations in Q3, a significant rise from 15% at the beginning of the year.</li><li>Despite challenges in the Californian market due to policy changes, Sunrun launched its new add-on storage product for solar clients in California.</li></ul>

Sunrun Inc. delivered a mixed result in the recent quarter, with revenues below market expectations but surpassed the analyst consensus regarding earnings.The storage attachment rate surged to over 33% of installations in Q3, a significant rise from 15% at the beginning of the year.Despite challenges in the Californian market due to policy changes, Sunrun launched its new add-on storage product for solar clients in California.

Sunrun Inc.: Expansion of Clean Energy Across the US - What's the Future Outlook? - Major Drivers

United States

Sunrun Inc. provides solar energy solutions. The Company installs, monitors, and maintains solar panels on homeowners' roofs to supply solar electricity. Sunrun serves customers in the United States.

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Sunrun Inc (RUN US)

Sunrun Inc.: Adopting A Strategic Approach to Market Expansion and Customer Acquisition! - Major Drivers

Sunrun Inc.'s second quarter 2024 earnings displayed a strategic dedication to a storage-first approach, reflective of broader transitions and...

Baptista Research

Sunrun Inc.: How Are They Expanding Storage Solutions? - Major Drivers

Sunrun reported a dynamic first quarter of 2024, marked by a strategic emphasis on storage installations complemented by solar capacity,...

Baptista Research

Sunrun Inc: Improved Demand & Storage Adoption Changing The Game! - Major Drivers

Sunrun is a renewable energy company that had a strong fourth quarter and a full-year result in 2023. The company exceeded its guidance on storage...

Baptista Research

Renewable Energy And "Grade"

Renewables as extractive industries: Renewable energy sources like wind and solar are extractive industries that depend on the “grade” of the...

Massif Capital Research

Sunrun Inc.: Expansion of Clean Energy Across the US - What's the Future Outlook? - Major Drivers

Sunrun Inc. delivered a mixed result in the recent quarter, with revenues below market expectations but surpassed the analyst consensus regarding...

Baptista Research

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