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SP Plus Corporation (Nasdaq: SP) is a leading provider of professional parking, ground transportation, facility maintenance, security, and event logistics services across North America and Europe. Operating under recognized brands like SP+ Parking, Standard Parking, and Central Parking, the company manages thousands of parking facilities encompassing over two million parking spaces in hundreds of cities across the United States and Canada.
SP+ integrates industry-leading technology with top-notch operations management to deliver comprehensive mobility solutions. Their services cater to a diverse clientele, including aviation, commercial, hospitality, and institutional markets. The company's innovative technology suite, branded as Sphere, provides efficient and time-sensitive solutions for the movement of people, vehicles, and personal travel belongings. With over 20,000 team members, SP+ is dedicated to enhancing the customer experience through technological advancements and superior service delivery.
Recently, SP+ secured a 35-year agreement to manage the University of Akron’s parking system, generating a significant up-front payment of $55 million and ongoing revenue of approximately $75 million over the term. This partnership entails substantial upgrades to the campus parking facilities, aimed at improving the overall customer experience. Additionally, the company’s collaboration with the high-speed rail service Brightline enhances passenger convenience through streamlined baggage handling services.
SP+ has also been recognized for its commitment to diversity, being named one of America’s Greatest Workplaces for Diversity by Newsweek and Plant-A Insights Group in 2024. Financially, the company reported strong growth in 2023, with a 15% increase in gross profit and a 10% rise in adjusted EBITDA, underscoring the successful execution of its growth strategy.
Looking ahead, SP+ is focused on completing its merger with Metropolis Technologies, Inc., expected to close in 2024, which will further strengthen its market position. The company continues to prioritize innovation and customer satisfaction, making every moment matter for a world on the go.
SP Plus Corporation (NASDAQ: SP) is set to release its first quarter 2022 earnings on May 4, 2022, after market close. The company will host a conference call at 4:00 PM (Central Time) on the same day, accessible via webcast at their investor relations website. SP Plus offers a variety of services aimed at enhancing customer experience and improving financial outcomes for clients across multiple sectors, including aviation and healthcare. Further details about their services can be found on their official site.
SP Plus Corporation (SP) has announced key leadership changes, promoting Chris Sherman to Chief Strategy Officer and Dave Lombardi to Chief Business Development Officer within its Commercial Division. Both bring extensive experience, with Sherman focusing on advancing SP+'s growth strategy and optimizing technology product delivery, while Lombardi will oversee business development and national accounts. These changes aim to leverage SP+'s Sphere technology products and enhance service delivery across various sectors, including aviation and hospitality, enhancing client relationships and operational efficiency.
SP Plus Corporation (Nasdaq: SP) reported strong fourth-quarter and full-year 2021 results, highlighting a significant recovery from pandemic impacts. Fourth-quarter GAAP gross profit surged 54% to $45.5 million, with adjusted gross profit at $49.3 million. For the full year, GAAP gross profit reached $167.3 million, compared to $20.2 million in 2020. Adjusted earnings per share increased to $1.93. The company anticipates 2022 gross profit growth of 18% year-over-year. Key revenue drivers include technology-driven solutions like Sphere and robust performance in the Commercial segment.
SP Plus Corporation (NASDAQ: SP) will release its fourth quarter and full-year 2021 earnings on February 23, 2022, after market close. A conference call is scheduled for 4:00 PM CT on the same day, accessible via the company's investor relations website. SP Plus specializes in parking management, ground transportation, and other mobility solutions for various sectors including aviation, healthcare, and hospitality. The company aims to enhance customer experiences while improving financial results for its clients.
SP Plus Corporation (Nasdaq:SP) reported its third quarter 2021 results, revealing a strong financial performance amid improving business conditions. The company's gross profit reached $46.0 million, a 10% increase year-over-year, with adjusted gross profit at $49.5 million, up 17%. General and administrative expenses rose to $21.1 million. The company expects full-year gross profit to hit the high end of $170 to $185 million and has raised its operating cash flow and free cash flow guidance by $10 million. SP+ continues to enhance its market leadership through technology initiatives and new contracts.
SP Plus Corporation (Nasdaq: SP) has been selected to manage the Curbside Management Program at San Francisco International Airport (SFO), effective November 1. This program will oversee the curb space and staging for approximately 35,000 daily taxi, limousine, and transportation network vehicles, consolidating ground transportation management. SP+ is already responsible for public and employee parking operations at SFO, indicating a growing partnership with the airport. The initiative aims to improve passenger movement and the overall consumer experience.
SP Plus Corporation (NASDAQ: SP) announced it will release its third quarter 2021 earnings on October 27, 2021, after market close. A conference call is scheduled for the same day at 4:00 PM (Central Time), accessible via webcast. SP Plus provides diverse mobility solutions including parking management and transportation across various sectors in North America. Investors can expect a replay of the call on their website shortly after it concludes, available for 30 days.
SP Plus Corporation (SP), a leader in technology-driven mobility solutions, has been appointed as the parking operator for the University of Toledo. This partnership, formed through the public-private initiative ParkUToledo, aims to modernize campus parking operations. SP+ will oversee the management of 66 parking lots with over 10,000 spaces, enhancing customer service and operational efficiency. The company has also created the parkutoledo.com website for parking passes and information. SP+'s expertise in mobility solutions positions them as a valuable partner in this venture.
SP Plus Corporation (Nasdaq:SP) will participate in the Sidoti Fall 2021 Virtual Small Cap Conference on September 22, at 3:00 p.m. CDT. Presenters include Chairman and CEO Marc Baumann and CFO Kris Roy. The event will feature a live audio webcast, which will be accessible here, with a replay available for three months. Management plans to hold investor meetings during the conference.
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