SP Plus

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The firm operates through the following segments: Commercial, Aviation, and Other. The Commercial segment encompasses services in healthcare facilities, municipalities including meter revenue collection and enforcement services, government facilities, hotels, commercial real estate, residential communities, retail, colleges and universities, as well as ancillary services. The Aviation segment encompasses services in aviation, as well as ancillary services, which include shuttle and ground transportation services, valet services, baggage handling, baggage repair and replacement, remote air check-in services, wheelchair assist services and other services. The company was founded in 1929 and is headquartered in Chicago, IL.

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SP Plus reports robust Q4 growth driven by technology synergies

SP Plus delivered strong financial performance in Q4 2022, with double-digit growth across key metrics and a focus on technology-driven revenue synergies.
The company's strategic strengths lie in its broad-based business model, robust technology offerings, and operational resilience in the face of economic uncertainties.
Challenges include managing labor inflation, pricing dynamics, and transitioning technology solutions' contribution to gross profit, requiring careful navigation.
Amidst challenges, SP Plus sees opportunities in municipal solutions, leveraging existing services, and investments in technology and business development for future growth.

SP Plus reports robust Q1 earnings, eyes tech acquisitions

SP Plus delivered strong Q1 2023 results, driven by technology-related growth and increased demand for its services. The company reaffirmed full-year guidance and expects high single-digit gross profit growth beyond 2023. With a focus on acquisitions, technology advancements, and capital allocation priorities, SP Plus is well-positioned for future growth.

SP Plus (SP) reports record Q2 performance and projects strong growth ahead

SP Plus (SP) delivered strong Q2 performance with record levels of profit and EBITDA, supported by new business wins and technology solutions.
While facing challenges in acquisitions, pricing, and operational strategies, the company remains confident in its growth trajectory and long-term outlook.
Opportunities for continued growth in revenue, stable lease locations, and a robust business development pipeline position SP Plus (SP) for sustained success and expansion.

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SP+ is a diverse provider of parking, ground transportation, facility maintenance, security and event logistics services to real estate owners and managers in a wide array of markets. The company forms operations specialists who link innovation with exceptional market-based expertise in each of their service lines. With nine operating groups, each focusing exclusively on a single market, they are experts at understanding the specific needs and idiosyncrasies of those markets and have the depth of experienced personnel and financial resources to satisfy them.

CHICAGO, Feb. 12, 2024 (GLOBE NEWSWIRE) -- SP Plus Corporation (“SP+”) (NASDAQ: SP) today announced that at its special meeting of stockholders held on February 9, 2024 (the “Special Meeting”), SP+ stockholders voted to approve the previously announced Agreement and Plan of Merger, dated as of October 4, 2023, by and among Metropolis Technologies, Inc. (“Metropolis”), Schwinger Merger Sub Inc., a direct, wholly owned subsidiary of Metropolis (“Merger Sub”) and SP+ (the “Merger Agreement”), pursuant to which Merger Sub will merge with and into SP+ (the “Merger”), with SP+ surviving the Merger as a wholly owned subsidiary of Metropolis.

SP Plus Stockholders Approve Merger With Metropolis Technologies

CHICAGO, Feb. 06, 2024 (GLOBE NEWSWIRE) -- SP+® Corporation (SP+), (Nasdaq: SP) a best-in-class technology and operations management provider of mobility services for aviation, commercial, hospitality, and institutional clients throughout North America and Europe, announces it is now operating and managing five parking facilities with its Sphere™ technology platform at Miami Valley Hospital, in Dayton, Ohio.

SP Plus Corporation Implements Technology-Based Parking Management Innovations at Miami Valley Hospital

CHICAGO, Jan. 30, 2024 (GLOBE NEWSWIRE) -- SP+® Corporation (SP+), (Nasdaq: SP) a best-in-class technology and operations management provider of mobility services for aviation, commercial, hospitality, and institutional clients throughout North America and Europe, today announced its recognition by Forbes as one of America's Most Successful Small-Cap Companies.

Forbes Names SP Plus Corporation to its 2024 List of America's Most Successful Small-Cap Companies

This award recognizes SP+'s impact and commitment to delivering on Our Promise: Making Every Moment Matter, for a World on the Go This award recognizes SP+'s impact and commitment to delivering on Our Promise: Making Every Moment Matter, for a World on the Go

SP Plus Corporation Named to Newsweek's America's Greatest Workplaces for Diversity 2024

NEW ORLEANS , Jan. 22, 2024 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq.

SP PLUS INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of SP Plus Corporation - SP

CHICAGO, Dec. 12, 2023 (GLOBE NEWSWIRE) -- SP+® Corporation (SP+), (Nasdaq: SP) a best-in-class technology and operations management provider of mobility services for aviation, commercial, hospitality, and institutional clients throughout North America and Europe, today announced an agreement to operate, manage, and maintain the University of Akron's parking system at the main campus in Akron, Ohio.

SP Plus Corporation Upgrades Parking Services on the University of Akron Campus

CHICAGO, Dec. 04, 2023 (GLOBE NEWSWIRE) -- SP+® Corporation (SP+) (Nasdaq: SP), a best-in-class technology and operations management provider of mobility services for aviation, commercial, hospitality, and institutional clients throughout North America and Europe, today announced its five-year contract for ground transportation management, parking, and concierge/ambassador services at San Francisco International Airport (SFO) in San Mateo County, California. SP+ worked collaboratively and efficiently with the long-term and proven local ACBDE/MBE/WBE/LBE.

SP Plus Corporation Awarded Five-Year Contract at San Francisco International Airport

--Record Gross Profit Reflects Positive Momentum Across the Commercial and Aviation Segments-- --Tenth Consecutive Quarter of Net Location Growth; Maintains High Location Retention Rate of 94%--

SP Plus Corporation Announces Third Quarter 2023 Results

CHICAGO, Oct. 26, 2023 (GLOBE NEWSWIRE) -- SP Plus Corporation (NASDAQ: SP) today announced that it expects to release third quarter 2023 earnings on Wednesday, November 1, 2023, after the close of market.

SP Plus Corporation to Release Third Quarter 2023 Results on November 1, 2023

SP Plus (SP) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.

Fast-paced Momentum Stock SP Plus (SP) Is Still Trading at a Bargain

CHICAGO, Oct. 17, 2023 (GLOBE NEWSWIRE) -- SP+® Corporation (SP+), (Nasdaq: SP) a best-in-class technology and operations management provider of mobility services for aviation, commercial, hospitality, and institutional clients throughout North America and Europe, today announced its online reservation system technology, AeroParker, providing airport parking pre-booking functionality, is now available on-site at three additional airports, including, Chicago Rockford International Airport (RFD), The Cincinnati/Northern Kentucky International Airport (CVG), and Sioux Falls Regional Airport, also known as Joe Foss Field (FSD). In Texas, SP+ launched AeroParker at the Park Air Express Valet Parking operation, at El Paso International Airport (ELP). These four new wins by AeroParker demonstrate SP+'s success in cross-selling AeroParker to existing clients where SP+ provides operational services.

SP Plus Corporation Launches its AeroParker Online Booking Reservation System at Airports in Illinois, Kentucky, South Dakota, and Texas

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BTE, AZEK and SP made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on October 12, 2023.

Best Momentum Stocks to Buy for October 12th

SP Plus (SP) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.

Why Fast-paced Mover SP Plus (SP) Is a Great Choice for Value Investors

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of SP Plus Corporation (NasdaqGS: SP) to Metropolis Technologies, Inc. Under the terms of the proposed transaction, shareholders of SP will receive $54.00 in cash for each share of SP that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the.

SP PLUS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of SP Plus Corporation - SP

If you are looking for stocks that are well positioned to maintain their recent uptrend, SP Plus (SP) could be a great choice. It is one of the several stocks that passed through our "Recent Price Strength" screen.

SP Plus (SP) is on the Move, Here's Why the Trend Could be Sustainable

SP Plus (SP) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Strength Seen in SP Plus (SP): Can Its 44.7% Jump Turn into More Strength?

The company is being acquired in a go-private transaction. If all goes well, its new owner will be Metropolis Technologies.

Why Sp Plus Stock Blasted 45% Higher Today

On Thursday, SP Plus announced it has agreed to be acquired by Metropolis for $54 per share, a 52% premium from Wednesday's close. The deal is still subject to the approvals of regulators and SP Plus shareholders, but should close next year.

Why SP Plus Stock Skyrocketed 42% This Week

MILWAUKEE , Oct. 5, 2023 /PRNewswire/ -- Ademi LLP is investigating SP Plus (Nasdaq: SP) for possible breaches of fiduciary duty and other violations of law in its transaction with Metropolis. Click here to learn how to join the action https://www.ademilaw.com/case/sp-plus-corporation or call Guri Ademi toll-free at 866-264-3995.

Shareholder Alert: Ademi LLP investigates whether SP Plus Corporation has obtained a Fair Price in its transaction with Metropolis

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of SP® Plus Corporation (NASDAQ: SP) to Metropolis Technologies, Inc. for $54.00 per share in cash is fair to SP® Plus shareholders. Halper Sadeh encourages SP® Plus shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halpersadeh.com. The investigation concerns whether.

SP Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of SP® Plus Corporation Is Fair to Shareholders

Metropolis Technologies Inc. said Thursday it would pay $54 a share for SP Plus Corp. SP, +0.14% in a take-private deal that values the parking facility management company at $1.5 billion. The price amounts to a premium of 52% over the closing share price of SP Plus stock on Tuesday.

SP Plus to be taken private by Metropolis Technologies for $1.5B

LOS ANGELES & CHICAGO--(BUSINESS WIRE)--Metropolis Technologies, Inc. (“Metropolis”), a technology company whose computer vision platform enables checkout-free payment experiences, and SP® Plus Corporation (Nasdaq:SP) (“SP+”), a best-in-class technology and operations management provider of mobility services for aviation, commercial, hospitality, and institutional clients throughout North America and Europe, today announced that they have entered into a definitive agreement under which Metropol.

Metropolis Technologies, Inc. to Acquire SP Plus Corporation for $1.5 Billion

The heavy selling pressure might have exhausted for SP Plus (SP) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

SP Plus (SP) Loses -11.34% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

SP Plus, a facilities services company, has shown mixed financial performance but remains fundamentally attractive. Despite the stock's 6.5% growth matching the S&P 500, it has outperformed the broader market with a 32.1% increase since April 2022. While net income slightly dropped recently, other profitability metrics such as operating cash flow and EBITDA have improved for SP Plus.

SP Plus: Still Appealing Despite Mixed Results

SP Plus Corp. operates as a parking company and provides transportation, facilities maintenance, events, and security services. The company has manageable debt and a strong moat, with decent efficiency and profitability metrics. Revenue growth has been inconsistent, but the company experienced a turnaround from the pandemic and is running smoothly. The current share price is slightly too expensive for the risk.

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