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>Tyson Foods reported a mixed yet strategically promising third-quarter fiscal year 2025 performance, reflecting both impressive achievements and ongoing challenges.</li><li>The company posted a 4% year-over-year sales growth to $13.9 billion, with a noted increase in adjusted operating income by 2.9% to $505 million.</li><li>Furthermore, Tyson reported a 4.6% boost in adjusted earnings per share to $0.91.</li></ul>

Tyson Foods reported a mixed yet strategically promising third-quarter fiscal year 2025 performance, reflecting both impressive achievements and ongoing challenges.The company posted a 4% year-over-year sales growth to $13.9 billion, with a noted increase in adjusted operating income by 2.9% to $505 million.Furthermore, Tyson reported a 4.6% boost in adjusted earnings per share to $0.91.

Tyson Foods: Dealing With Supply Chain Disruptions, Pricing Volatility & Other Key Challenges!

<ul><li>Tyson Foods reported its second-quarter fiscal year 2025 earnings, highlighting a strong financial performance across multiple units amidst a challenging macroeconomic environment.</li><li>The company marked its fourth consecutive quarter of year-over-year growth in sales, adjusted operating income, and adjusted earnings per share.</li><li>Sales reached $13.1 billion, although considering a legal contingency accrual mainly impacting its Pork segment, the figure would have been higher.</li></ul>

Tyson Foods reported its second-quarter fiscal year 2025 earnings, highlighting a strong financial performance across multiple units amidst a challenging macroeconomic environment.The company marked its fourth consecutive quarter of year-over-year growth in sales, adjusted operating income, and adjusted earnings per share.Sales reached $13.1 billion, although considering a legal contingency accrual mainly impacting its Pork segment, the figure would have been higher.

Tyson Foods: An Insight Into The Beef Market Dynamics & Its Recent Strategies To Optimize Performance!

<ul><li>Tyson Foods started fiscal 2025 with a solid performance across multiple segments, particularly in Chicken, marking the best first-quarter adjusted operating income within the past eight years.</li><li>The company's diversified multi-protein portfolio has been fundamental to balancing challenges faced in the Beef segment, where improved results surpassed expectations despite ongoing pressures from cattle cycle dynamics.</li><li>Notably, International operations also reported substantial profitability improvements, contributing to the overall performance.</li></ul>

Tyson Foods started fiscal 2025 with a solid performance across multiple segments, particularly in Chicken, marking the best first-quarter adjusted operating income within the past eight years.The company's diversified multi-protein portfolio has been fundamental to balancing challenges faced in the Beef segment, where improved results surpassed expectations despite ongoing pressures from cattle cycle dynamics.Notably, International operations also reported substantial profitability improvements, contributing to the overall performance.

Tyson Foods: Prepared Foods Segment Growth & Other Major Drivers

Podcast by Joe Weisenthal & Tracy Alloway, Odd Lots

Odd Lots

Podcast by Joe Weisenthal & Tracy Alloway

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Thematic (Sector/Industry)

<ul><li>Rising beef prices in the US are a topic of concern, with President Trump urging lower prices</li><li>Bill Bullard, CEO of R-CALF USA, discusses the relationship between beef prices and cattle prices and the need for competitive market forces in the cattle industry</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Rising beef prices in the US are a topic of concern, with President Trump urging lower pricesBill Bullard, CEO of R-CALF USA, discusses the relationship between beef prices and cattle prices and the need for competitive market forces in the cattle industryThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Why America's Cattle Ranchers Keep Getting Squeezed

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>On the 21st January 2025, <a href="https://www.smartkarma.com/entities/wh-group-ltd" target="_blank" data-smartkarma-citation="entities:13200:1" rel="noopener">WH Group (288 HK)</a>, the world's largest pork producer, <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0121/2025012100994.pdf" target="_blank" rel="noopener">announced</a> Smithfield had made a public filing of the "Preliminary Prospectus" with the SEC.</li>
<li>A US$23-US$27/share indicative price range backed out a possible market cap for Smithfield of US$9.0bn-US$10.6bn, at the high end of my estimate, and more than twice its 2013 privatisation value. </li>
<li>
Reportedly,  WHG are now guiding that Smithfield is likely to be priced at $20/share. Expect WHG to sell off here.</li>
</ul>


On the 21st January 2025, WH Group (288 HK), the world's largest pork producer, announced Smithfield had made a public filing of the "Preliminary Prospectus" with the SEC.
A US$23-US$27/share indicative price range backed out a possible market cap for Smithfield of US$9.0bn-US$10.6bn, at the high end of my estimate, and more than twice its 2013 privatisation value. 

Reportedly,  WHG are now guiding that Smithfield is likely to be priced at $20/share. Expect WHG to sell off here.


WH Group (288 HK) Is Stretched As Smithfield Mulls IPO Price Reduction

United States

Tyson Foods, Inc. produces, distributes, and markets chicken, beef, pork, prepared foods and related allied products.  The Company's products are marketed and sold to national and regional grocery retailers, regional grocery wholesalers, meat distributors, warehouse club stores, military commissaries, and industrial food processing companies.

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Tyson Foods Inc Cl A (TSN US)

Tyson Foods: Dealing With Supply Chain Disruptions, Pricing Volatility & Other Key Challenges!

Tyson Foods reported a mixed yet strategically promising third-quarter fiscal year 2025 performance, reflecting both impressive achievements and...

Baptista Research

Tyson Foods: An Insight Into The Beef Market Dynamics & Its Recent Strategies To Optimize Performance!

Tyson Foods reported its second-quarter fiscal year 2025 earnings, highlighting a strong financial performance across multiple units amidst a...

Baptista Research

Tyson Foods: Prepared Foods Segment Growth & Other Major Drivers

Tyson Foods started fiscal 2025 with a solid performance across multiple segments, particularly in Chicken, marking the best first-quarter...

Baptista Research

Why America's Cattle Ranchers Keep Getting Squeezed

Adobe Acrobat Studio and Chase Sapphire Reserve for Business offer premium benefits for business owners, while rising beef prices in the U.S. have...

Odd Lots

WH Group (288 HK) Is Stretched As Smithfield Mulls IPO Price Reduction

A US$10bn market cap for Smithfield was punchy. Reportedly, the feedback from investors think likewise. Dumbing down the bottom end of the price...

David Blennerhassett

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