Sp Plus Corp Stock Price, News & Analysis

SP Plus Corporation (Nasdaq: SP) reported strong financial results for Q2 2021, demonstrating improved business conditions post-COVID-19. Gross profit rose to $46.5 million, significantly up from $3.9 million year-over-year. The company is raising its full-year gross profit guidance by $27.5 million, forecasting between $170 million and $185 million. Operational cash flow guidance is also initiated at $52 million to $66 million. With disciplined cost management, G&A expenses decreased to $22.0 million, 20% lower than pre-pandemic levels. SP is positioned for ongoing recovery and expansion in services.

SP Plus Corporation (SP) has announced a partnership with Global Parking Systems and IMS Engineers to form SP+ GLOBAL IMS, selected by Houston Airports for parking and transportation services across George Bush Intercontinental, William P. Hobby, and Ellington Airports. This collaboration will manage approximately 36,000 parking spaces and enhance services with technology-driven solutions like Check ‘N Fly™. The partnership emphasizes diversity with MBE-certified firms and aims to improve the travel experience for passengers.

SP Plus Corporation (NASDAQ: SP) will release its second quarter 2021 earnings on July 28, 2021, after market close. Following the earnings report, a conference call will be held at 4:00 PM Central Time, accessible via webcast. SP Plus specializes in managing parking, ground transportation, and other mobility solutions across various sectors in North America, aimed at enhancing consumer experiences and client profitability.

SP Plus Corporation (SP) has introduced touchless reservation and commerce options at Charles M. Schulz – Sonoma County Airport, enhancing the parking experience. The new pay-by-phone system eliminates the need for parking tickets, supported by signage and 24/7 assistance through the Sphere Remote Management System. Customers can pre-book parking online, receiving discounts at local restaurants. SP+ is also developing an online commerce site for branded merchandise. This modernization supports the airport's efforts to improve traveler safety and efficiency.

SP Plus Corporation (Nasdaq:SP), known for its technology-driven mobility solutions, announced its participation in upcoming investment conferences. On May 27, CEO Marc Baumann and CFO Kristopher Roy will hold investor meetings at the Barrington Research Virtual Spring Investment Conference. They will also present at the William Blair 41st Annual Growth Stock Conference on June 2 at 2:40 p.m. CDT, followed by a presentation at the Baird 2021 Global Consumer, Technology & Services Conference on June 8 at 8:05 a.m. CDT. The company focuses on enhancing consumer experiences across various sectors.

SP Plus Corporation (SP) has appointed Diana Sands to its Board of Directors, bringing over 30 years of experience, including her role as Senior VP at Boeing. Sands will also join the Audit Committee. Concurrently, Karen Garrison retired after 17 years, with CEO Marc Baumann stepping in as Chairman. Douglas Waggoner becomes Lead Independent Director. This leadership change aims to leverage Sands' expertise as SP Plus continues to grow in technology-driven mobility solutions across North America.

SP Plus Corporation (SP) has been selected by Hawaiian Airlines to manage the delivery of delayed baggage through its Bags® Home Serv Delivery service. This extensive contract covers 22 markets across the U.S., enhancing the travel experience for Hawaiian Airlines passengers. SP+ leverages advanced technology, including Sphere Express™ for real-time baggage tracking. With over 65 years in Hawaii, SP+ operates in numerous sectors, providing parking management and other services to about 50 locations.

SP Plus Corporation (Nasdaq: SP) reported first quarter 2021 results showing improved business conditions due to easing pandemic restrictions. Gross profit reached $38.3 million, a significant recovery from a loss in Q1 2020, although adjusted gross profit fell 16% year-over-year. The company began operations at 40 new locations and contracted new services at airports. Despite higher general and administrative expenses, SP Plus reaffirmed its 2021 guidance for gross profit of $140 million to $160 million. The CEO emphasized opportunities in the evolving mobility landscape.

SP Plus Corporation (SP), a technology-driven provider of mobility solutions, announces the implementation of its Sphere Commerce™ On Demand technology in nearly 400 gateless parking facilities across North America. This innovation allows for touchless payments via smartphones, enhancing customer experience and operational efficiency. The system utilizes Amazon Web Services for reliable performance, enabling parks to optimize revenue without incurring high equipment costs. SP+ is poised to meet the growing consumer demand for flexible payment solutions, ensuring adaptability to future industry trends.