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Aaron Viswanathan

Managing Director and Lead Equity Research Analyst at RBC Capital Markets, LLC

Arun Viswanathan is a Managing Director and Lead Equity Research Analyst at RBC Capital Markets, specializing in Chemicals and Packaging within the Basic Materials sector. He covers a range of companies, including Ball Corporation, Eastman Chemical, LyondellBasell, Quaker Houghton, Huntsman, FMC, Dow, Olin, Axalta, and Pactiv Evergreen, having issued over 2,000 ratings with a 43% success rate and a notable best single trade return of 87% on Pactiv Evergreen. Joining RBC in 2014, Arun has over two decades of experience spanning BofA, J. Goldman, and UBS, and has earned multiple II #1 team rankings in his coverage areas. He holds an MBA from the University of Chicago Booth School of Business, a BA in Economics from UC Berkeley, is a CFA charterholder, and has active FINRA registration.

Aaron Viswanathan's questions to Corteva (CTVA) leadership

Question · Q3 2025

Aaron Viswanathan focused on Corteva's strong margin performance, noting the progression from mid-teens to mid-20s company-wide and up to 30% in seeds. He asked if continued margin growth is expected into 2026, what the key drivers would be (price, volume, cost), and if there are any royalty considerations.

Answer

CEO Chuck Magro affirmed that the margin expansion journey is expected to continue, targeting 24% at the midpoint by 2027, with an approximate annual improvement of 100-150 basis points across both seed and crop protection. He identified new products (seed hybrids/varieties and crop protection), high-margin seed out-licensing moving towards royalty neutrality and income, and ongoing cost and productivity initiatives as major drivers. Magro noted that the company is trending better than its $700 million cost/productivity/deflation target for $1 billion EBITDA growth over three years.

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Question · Q3 2025

Aaron Viswanathan asked about the drivers of Corteva's strong margin performance, which has moved from mid-teens to mid-20s, and whether continued margin growth is expected in 2026, driven by price, volume, cost gains, or royalty considerations.

Answer

CEO Chuck Magro affirmed that the margin journey will continue, targeting 24% at the midpoint by 2027, with an expected 100-150 basis points improvement per year across both seed and crop protection. He identified new products, seed out-licensing (moving towards royalty neutrality and income), and cost/productivity initiatives (exceeding the $700 million target for 2027) as key drivers.

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Aaron Viswanathan's questions to Amcor (AMCR) leadership

Question · Q3 2025

Aaron Viswanathan asked about the combined company's growth prospects given Berry's historical struggles and questioned the achievability of procurement synergies since both were already large buyers.

Answer

CEO Peter Konieczny acknowledged the past low-growth profiles but outlined levers for higher future growth, including portfolio pruning, cross-selling, and enhanced innovation. On procurement, he reiterated that the complementary nature of the raw material buys is a key advantage, allowing the combined firm to harmonize contracts to the most favorable existing terms, a benefit that goes beyond just price.

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