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>Trimble, in the first quarter of 2024 results, highlighted three key areas: performance exceeding expectations, a strategic portfolio highlight involving divestitures and joint venture, and the implementation of its new reporting segments.</li><li>Trimble posted a solid performance with all its three segments surpassing expectations.</li><li>Its annual recurring revenue (ARR) grew 13% organically alongside a strong free cash flow of $227 million.</li></ul>

Trimble, in the first quarter of 2024 results, highlighted three key areas: performance exceeding expectations, a strategic portfolio highlight involving divestitures and joint venture, and the implementation of its new reporting segments.Trimble posted a solid performance with all its three segments surpassing expectations.Its annual recurring revenue (ARR) grew 13% organically alongside a strong free cash flow of $227 million.

Trimble Inc.: Expanding Addressable Market and Ecosystem Approach! - Major Drivers

<ul><li>Trimble Inc.</li><li>saw a transformative year in 2023, marked by strategic progression and significant moves such as the acquisition of Transporeon and the announcement of an agricultural joint venture with AGCO. These developments demonstrate the organization’s ongoing focus on its ‘Connect & Scale’ strategy.</li><li>Despite challenging market circumstances, the company posted impressive financial results.</li></ul>

Trimble Inc.saw a transformative year in 2023, marked by strategic progression and significant moves such as the acquisition of Transporeon and the announcement of an agricultural joint venture with AGCO. These developments demonstrate the organization’s ongoing focus on its ‘Connect & Scale’ strategy.Despite challenging market circumstances, the company posted impressive financial results.

Trimble Inc: Are The New Revenue Opportunities with Trimble Construction One Going To Be A Key Factor In 2024? - Major Drivers

<ul><li>Trimble Inc. delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus in terms of earnings.</li><li>The company reported a substantial increase in ARR and a progressive gross margin, leading to a significant EBITDA progression.</li><li>Another highlight of the quarter was the introduction of Trimble IonoGuard to address disturbances in the ionosphere that affect positioning and navigation systems.</li></ul>

Trimble Inc. delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus in terms of earnings.The company reported a substantial increase in ARR and a progressive gross margin, leading to a significant EBITDA progression.Another highlight of the quarter was the introduction of Trimble IonoGuard to address disturbances in the ionosphere that affect positioning and navigation systems.

Trimble Inc.: Pioneering Progress With Trimble IonoGuard & Other Cutting-Edge Technologies! - Major Drivers

<ul><li>Trimble delivered a strong result and managed an all-around beat in the last quarter.</li><li>Financially, Trimble demonstrated a robust performance, delivering an EBITDA margin of 25.3% and a strong gross margin of 64.2%, surpassing previous years.</li><li>In the quarter, Trimble introduced LIMS PRO, a cloud-hosted iteration of its LIMS for sawmill raw material procurement.</li></ul>

Trimble delivered a strong result and managed an all-around beat in the last quarter.Financially, Trimble demonstrated a robust performance, delivering an EBITDA margin of 25.3% and a strong gross margin of 64.2%, surpassing previous years.In the quarter, Trimble introduced LIMS PRO, a cloud-hosted iteration of its LIMS for sawmill raw material procurement.

Trimble Inc.: Can The New LIMS PRO Become A Major Growth Catalyst? - Major Drivers

Equity Capital Markets

Trimble Navigation / Equity Capital Markets

<ul><li>Trimble delivered mixed results in the first quarter, with revenues of $915 million that were below Wall Street expectations.</li><li>The quarter's cash flow improved significantly year on year, with both cash flow from operations and free cash flow exceeding non-GAAP net income.</li><li>Revenues in the transportation business increased organically year over year during the quarter, and operating margins were higher than 15%.</li></ul>

Trimble delivered mixed results in the first quarter, with revenues of $915 million that were below Wall Street expectations.The quarter's cash flow improved significantly year on year, with both cash flow from operations and free cash flow exceeding non-GAAP net income.Revenues in the transportation business increased organically year over year during the quarter, and operating margins were higher than 15%.

Trimble Inc.: Acquisition Of Transporeon & Other Drivers

United States

Trimble Navigation Ltd is a leading provider of advanced location-based solutions that maximize productivity and enhance profitability. The Company integrates its positioning expertise in GPS, laser, optical and inertial technologies with application software, wireless communications, and services to provide complete commercial solutions.

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Trimble Navigation (TRMB US)

Trimble Inc.: Expanding Addressable Market and Ecosystem Approach! - Major Drivers

Trimble, in the first quarter of 2024 results, highlighted three key areas: performance exceeding expectations, a strategic portfolio highlight...

Baptista Research

Trimble Inc: Are The New Revenue Opportunities with Trimble Construction One Going To Be A Key Factor In 2024? - Major Drivers

Trimble Inc. saw a transformative year in 2023, marked by strategic progression and significant moves such as the acquisition of Transporeon and...

Baptista Research

Trimble Inc.: Pioneering Progress With Trimble IonoGuard & Other Cutting-Edge Technologies! - Major Drivers

Trimble Inc. delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst...

Baptista Research

Trimble Inc.: Can The New LIMS PRO Become A Major Growth Catalyst? - Major Drivers

Trimble delivered a strong result and managed an all-around beat in the last quarter. Financially, Trimble demonstrated a robust performance,...

Baptista Research

Trimble Inc.: Acquisition Of Transporeon & Other Drivers

Trimble delivered mixed results in the first quarter, with revenues of $915 million that were below Wall Street expectations. The quarter's cash...

Baptista Research

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