Last $22.61 USD
Change Today -0.74 / -3.17%
Volume 28.8K
SP On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

sp plus corp (SP) Snapshot

Open
$23.34
Previous Close
$23.35
Day High
$23.39
Day Low
$22.42
52 Week High
03/4/14 - $27.66
52 Week Low
07/31/14 - $17.96
Market Cap
497.9M
Average Volume 10 Days
21.2K
EPS TTM
$1.05
Shares Outstanding
22.0M
EX-Date
--
P/E TM
21.5x
Dividend
--
Dividend Yield
--
Current Stock Chart for SP PLUS CORP (SP)

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sp plus corp (SP) Details

SP Plus Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States, Puerto Rico, and Canada. Its services include the collection and deposit of parking revenues; daily housekeeping; restriping of the parking stalls; maintenance of parking equipment, such as ticket dispensing machines, parking gate arms, and fee computers; painting of walkways, curbs, ceilings, walls, and other facility surfaces; and snow removal from sidewalks and driveways. The company also provides shuttle bus vehicles and drivers in support of on-airport car rental operations, as well as private off-airport parking locations; and ancillary ground transportation services at airports, such as taxi and livery dispatch, concierge-type ground transportation information, and support services for arriving passengers. In addition, it offers shuttle bus services, on-street parking meter collection, and other parking enforcement services for municipalities; valet and shuttle bus services for the medical center and hospital market; valet services for hotel and resort market; and remote parking management services. The company serves private and public owners, municipalities, managers, and developers of office buildings, residential properties, commercial properties, shopping centers and other retail properties, sports and special event complexes, colleges and universities, hotels, and hospitals and medical centers. As of December 31, 2013, the company managed approximately 4,200 parking facility locations with approximately 2.1 million parking spaces in 420 cities, as well as operated 30 parking-related service centers serving 75 airports; and a fleet of 730 shuttle buses and 136 valet locations. The company was formerly known as Standard Parking Corporation and changed its name to SP Plus Corporation in December 2013. SP Plus Corporation was founded in 1929 and is headquartered in Chicago, Illinois.

14,255 Employees
Last Reported Date: 03/13/14
Founded in 1929

sp plus corp (SP) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $550.0K
Executive Vice President of Operations - Nort...
Total Annual Compensation: $469.3K
Executive Vice President of Operations - Sout...
Total Annual Compensation: $374.4K
Compensation as of Fiscal Year 2013.

sp plus corp (SP) Key Developments

SP Plus Corporation Receives Parking and Shuttle Contract at Baltimore/Washington International Thurgood Marshall Airport

SP Plus Corporation announced that it has been awarded the parking management contract at the Baltimore/Washington International Thurgood Marshall Airport (BWI). The operation encompasses three parking garages and three surface lots containing more than 27,000 parking spaces at the Airport and Rail Station. In addition to parking, the company's SP+ Airport Services operating group will oversee security, maintenance and custodial services for the parking facilities. SP+ Airport Services and its subcontractors will employ approximately 125 people in connection with its BWI duties. The company will assume operational responsibility on January 1, 2015.

SP Plus Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reaffirms Earnings Guidance for the Year 2014

SP Plus Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenue of $380,287,000 compared to total revenue of $355,310,000 for the same period a year ago. Operating income was $11,868,000 compared to $11,623,000 last year. Income before income taxes was $7,850,000 compared to $6,913,000 last year. Net income was $5,087,000 compared to $4,465,000 last year. Net income attributable to the company was $4,302,000 or $0.19 per diluted share compared to $3,744,000 or $0.17 per basic and diluted share last year. Adjusted net income attributable to the company was $6,176,000 or $0.28 per basic and diluted share compared to $4,842,000 or $0.22 per basic and diluted share last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) were $18,713,000 compared to $18,861,000 last year. Adjusted EBITDA was $21,944,000 compared to $20,754,000 last year. Free cash flow was $9,295,000 compared to negative $975,000 last year. Adjusted free cash flow was $10,023,000 compared to negative $975,000 last year. Operating cash flow was $12,792,000 compared to $3,311,000 last year. For the nine months, the company reported total revenue of $1,130,483,000 compared to total revenue of $1,096,260,000 for the same period a year ago. Operating income was $29,099,000 compared to $27,431,000 last year. Income before income taxes was $15,653,000 compared to $13,357,000 last year. Net income was $16,074,000 compared to $8,998,000 last year. Net income attributable to the company was $13,912,000 or $0.62 per diluted share compared to $6,928,000 or $0.31 per basic and diluted share last year. Net cash provided by operating activities was $35,791,000 compared to $10,191,000 last year. Purchase of leasehold improvements and equipment was $10,409,000 compared to $11,529,000 last year. Adjusted net income attributable to the company was $11,158,000 or $0.50 per diluted share compared to $12,270,000 or $0.55 per diluted share last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) were $49,460,000 compared to $49,065,000 last year. Adjusted EBITDA was $55,675,000 compared to $58,275,000 last year. Free cash flow was $22,092,000 compared to negative $4,043,000 last year. Adjusted free cash flow was $24,292,000 compared to negative $4,043,000 last year. Operating cash flow was $32,757,000 compared to $8,422,000 last year. Based on the year-to-date results, the company continues to expect adjusted earnings per share to be at the lower end of the range of $0.77 to $0.87, which excludes expected full-year 2014 merger and integration related costs as well as the one-time, $0.28 per share tax benefit from the first quarter 2014 reversal of a valuation allowance for deferred tax assets. The company still expects to generate free cash flow of $35 to $40 million for the full-year 2014, excluding the impact of cash used for non-routine structural and other repairs.

SP Plus Corporation Enters into an Agreement to Establish Joint Venture with Parkmobile USA, Inc

SP Plus Corporation announced that it has entered into an agreement to establish a joint venture with Parkmobile USA, Inc., which is anticipated to close on October 31, 2014. The joint venture, Parkmobile, LLC, will be a provider of on-demand and prepaid transaction processing for on- and off-street parking and transportation services. The joint venture's day-to-day operations will be the responsibility of the Parkmobile USA management team.

 

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Price/Book 2.3x
Price/Cash Flow 10.5x
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