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>Westlake Corporation's third-quarter 2025 results reflect both ongoing challenges and strategic growth opportunities, with the company reporting an EBITDA of $313 million on net sales totaling $2.8 billion.</li><li>A notable event for the quarter was a substantial non-cash impairment charge amounting to $727 million, attributed entirely to the goodwill of its North American chlorovinyls business, accompanied by additional expenses related to facility closures.</li><li>These actions were driven by an extended trough in the chlorovinyl market, negatively affecting the Performance and Essential Materials (PEM) segment, particularly in PVC resin pricing, which led to a reported net loss of $38 million or $0.29 per share for the quarter.</li></ul>

Westlake Corporation's third-quarter 2025 results reflect both ongoing challenges and strategic growth opportunities, with the company reporting an EBITDA of $313 million on net sales totaling $2.8 billion.A notable event for the quarter was a substantial non-cash impairment charge amounting to $727 million, attributed entirely to the goodwill of its North American chlorovinyls business, accompanied by additional expenses related to facility closures.These actions were driven by an extended trough in the chlorovinyl market, negatively affecting the Performance and Essential Materials (PEM) segment, particularly in PVC resin pricing, which led to a reported net loss of $38 million or $0.29 per share for the quarter.

Westlake Corporation: Housing & Construction Market Synergies to Enhance Growth Prospects & Shareholder Value!

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Key points (machine generated)<ul><li>Commodity chemicals companies are experiencing difficult business conditions.</li><li>Stock prices of major players in the sector have significantly declined.</li><li>The market capitalization of companies like Dow and DuPont has reached a ten-year low.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)Commodity chemicals companies are experiencing difficult business conditions.Stock prices of major players in the sector have significantly declined.The market capitalization of companies like Dow and DuPont has reached a ten-year low.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Westlake Corp (WLK) - Tuesday, Jul 15, 2025

<ul><li>In a strategic pivot aimed at expanding its foothold in specialty materials, Westlake Corporation recently announced its agreement to acquire the global compounding solutions businesses of the ACI/Perplastic Group.</li><li>While the sum of the deal remains undisclosed, the implications are far-reaching.</li><li>ACI, headquartered in Portugal, is a key manufacturer of compounds for the wire and cable industry, posting net sales of approximately €210 million in 2024.</li></ul>

In a strategic pivot aimed at expanding its foothold in specialty materials, Westlake Corporation recently announced its agreement to acquire the global compounding solutions businesses of the ACI/Perplastic Group.While the sum of the deal remains undisclosed, the implications are far-reaching.ACI, headquartered in Portugal, is a key manufacturer of compounds for the wire and cable industry, posting net sales of approximately €210 million in 2024.

Westlake Acquires ACI/Perplastic Group: The Hidden Synergies No One’s Talking About!

<ul><li>Westlake Corporation's second-quarter 2025 performance reveals a complex interplay of factors impacting its two primary segments: Housing and Infrastructure Products (HIP) and Performance and Essential Materials (PEM).</li><li>In the HIP segment, Westlake experienced an uptick in performance, reflecting solid EBITDA of $275 million on sales of $1.2 billion, which translates to a strong margin of 24%.</li><li>This was fueled by increased demand for pipe and fittings, particularly in municipal water infrastructure, supported partly by the 2021 Infrastructure Act.</li></ul>

Westlake Corporation's second-quarter 2025 performance reveals a complex interplay of factors impacting its two primary segments: Housing and Infrastructure Products (HIP) and Performance and Essential Materials (PEM).In the HIP segment, Westlake experienced an uptick in performance, reflecting solid EBITDA of $275 million on sales of $1.2 billion, which translates to a strong margin of 24%.This was fueled by increased demand for pipe and fittings, particularly in municipal water infrastructure, supported partly by the 2021 Infrastructure Act.

Westlake Corporation Is Riding The Infrastructure Boom — Can Water Products Secure Long-Term Growth?

<ul><li>Westlake Corporation's performance in the first quarter of 2025 presented a mixed picture of challenges and opportunities across its two primary segments—Performance and Essential Materials (PEM) and Housing and Infrastructure Products (HIP).</li><li>Financial results showed a complex landscape shaped by external economic factors and internal operational dynamics.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Westlake Corporation's performance in the first quarter of 2025 presented a mixed picture of challenges and opportunities across its two primary segments—Performance and Essential Materials (PEM) and Housing and Infrastructure Products (HIP).Financial results showed a complex landscape shaped by external economic factors and internal operational dynamics.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Westlake Corporation: Proactive Measures in Epoxy & Petrochemical Segments To Ensure Robust Portfolio & Meet Future Market Demands!

United States

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and fabricated products.  The Company serves a range of consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, and residential and commercial construction.

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Westlake Chemical (WLK US)

Westlake Corporation: Housing & Construction Market Synergies to Enhance Growth Prospects & Shareholder Value!

Westlake Corporation's third-quarter 2025 results reflect both ongoing challenges and strategic growth opportunities, with the company reporting...

Baptista Research

Westlake Corp (WLK) - Tuesday, Jul 15, 2025

Commodity chemicals companies are experiencing tough conditions, causing their stock prices to plummet and market capitalization to hit a near ten...

Value Investors Club (VIC)

Westlake Acquires ACI/Perplastic Group: The Hidden Synergies No One’s Talking About!

In a strategic pivot aimed at expanding its foothold in specialty materials, Westlake Corporation recently announced its agreement to acquire the...

Baptista Research

Westlake Corporation Is Riding The Infrastructure Boom — Can Water Products Secure Long-Term Growth?

Westlake Corporation's second-quarter 2025 performance reveals a complex interplay of factors impacting its two primary segments: Housing and...

Baptista Research

Westlake Corporation: Proactive Measures in Epoxy & Petrochemical Segments To Ensure Robust Portfolio & Meet Future Market Demands!

Westlake Corporation's performance in the first quarter of 2025 presented a mixed picture of challenges and opportunities across its two primary...

Baptista Research

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