Sp Plus (SP) Quarterly and Annual Segment Results by Country and Region - CSIMarket
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Sp Plus Corporation  (NASDAQ: SP)
    Sector  Services    Industry Rental & Leasing
   Industry Rental & Leasing
   Sector  Services

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Description of Sp Plus's Business Segments


SP Plus Corporation is a prominent provider of professional parking, transportation, and related services in the United States. With a broad range of segments, products, and services, the company addresses the diverse needs of its clientele, spanning various industries and sectors. Below is an extensive overview of the segments, products, and services offered by SP Plus Corporation:

Segments:

1. Commercial Parking:
SP Plus Corporation specializes in delivering commercial parking services to a variety of clients, including office buildings, shopping centers, airports, hotels, and entertainment venues. The company focuses on enhancing customer experience, optimizing space utilization, and boosting revenue generation through efficient parking solutions and superior service delivery.

2. Municipal Services:
The company partners with municipalities and government agencies to offer comprehensive parking solutions, including on-street parking management, citation management, and enforcement services. SP Plus aims to improve urban mobility, facilitate better parking regulation, and enhance revenue collection for local governments.

3. Event Parking and Transportation:
For clients hosting special events, SP Plus provides tailored event management services, including on-site parking solutions, shuttle services, and crowd management strategies. This segment aims to streamline the parking experience and ensure efficient transportation for event attendees.

4. Airport, Seaport, and Cruise Parking:
SP Plus Corporation offers specialized parking services for travelers using airports, seaports, and cruise terminals. This includes providing secure long-term and short-term parking options, as well as shuttle transportation to and from terminals to facilitate a seamless travel experience.

5. Healthcare Parking:
Understanding the unique needs of healthcare facilities, SP Plus develops customized healthcare parking solutions for hospitals, clinics, and medical centers. The focus is on simplifying patient access, reducing wait times, and enhancing overall patient satisfaction through efficient parking operations.

6. Higher Education Parking:
SP Plus Corporation partners with colleges and universities to provide comprehensive parking services tailored to academic institutions. This includes parking management, enforcement solutions, permit sales, and shuttle transportation for students, faculty, and visitors.

Products:

1. Parking Facilities Management Software:
The company offers innovative parking facilities management software that allows clients to streamline their operations through features like real-time data analytics, automated reporting, and customizable dashboards. This software supports various functionalities essential for efficient parking management.

2. Parking Management Technology:
SP Plus delivers state-of-the-art parking management technology, including equipment such as parking gates, access control systems, automated ticket dispensers, and user-friendly pay stations. These solutions are designed to enhance the user experience and improve operational efficiency.

3. Remote Monitoring Services:
Clients benefit from SP Pluss remote monitoring services, which utilize advanced surveillance technology to ensure the security and proper functioning of parking facilities. This service provides clients peace of mind by maintaining oversight of their operations.

Services:

1. Parking Management:
SP Plus Corporation manages a full suite of parking management services that encompass valet parking, surface lot management, garage operations, and revenue control. The company focuses on delivering efficient, customer-friendly solutions that align with the specific needs of each client.

2. Transportation Services:
The company offers tailored transportation solutions, including onsite shuttle services, event transportation planning, and demand-responsive transportation. These services are designed to enhance accessibility and ensure seamless movement for patrons and guests.

3. Facility Maintenance:
To maintain high standards of operation, SP Plus provides full-service facility maintenance for parking structures. This includes routine inspections, cleaning, repair services, and overall maintenance to ensure that parking facilities are in optimal condition.

4. Revenue Management:
Leveraging data analytics and market insights, SP Plus delivers comprehensive revenue management solutions that help clients optimize pricing strategies and improve revenue throughput. This service aims to identify opportunities for increasing profitability through effective management of parking resources.

In summary, SP Plus Corporation stands out as a versatile provider of a wide range of parking and transportation services tailored to meet the diverse needs of its clientele. With a commitment to innovation and customer service excellence, SP Plus plays a crucial role in enhancing operational efficiency and support for industries throughout the United States.




Annual Report on Sp Plus Corporation Divisions, Sales by Country

 
Lease Type Contracts   Lease Type Contracts Segment contribution to total sales 16.45 % of total Revenue
Management Type Contracts   Management Type Contracts Segment contribution to total sales 33.1 % of total Revenue
Reimbursed Management Type Contract Revenue   Reimbursed Management Type Contract Revenue Segment contribution to total sales 50.45 % of total Revenue
Commercial   Commercial Segment contribution to total sales 32.85 % of total Revenue
Commercial Lease Type Contracts   Commercial Lease Type Contracts Segment contribution to total sales 15.59 % of total Revenue
Commercial Management Type Contracts   Commercial Management Type Contracts Segment contribution to total sales 17.26 % of total Revenue
Aviation   Aviation Segment contribution to total sales 16.7 % of total Revenue
Aviation Lease Type Contracts   Aviation Lease Type Contracts Segment contribution to total sales 0.86 % of total Revenue
Aviation Management Type Contracts   Aviation Management Type Contracts Segment contribution to total sales 15.84 % of total Revenue


Twelve months ended 2023
SP s Annual Revenue by Geography and Business Segments Sales
(in millions $)
%
(of total Sales)
Lease Type Contracts 293.20 16.45 %
Management Type Contracts 590.00 33.1 %
Reimbursed Management Type Contract Revenue 899.10 50.45 %
Commercial 585.50 32.85 %
Commercial Lease Type Contracts 277.80 15.59 %
Commercial Management Type Contracts 307.70 17.26 %
Aviation 297.70 16.7 %
Aviation Lease Type Contracts 15.40 0.86 %
Aviation Management Type Contracts 282.30 15.84 %
Total 1,782.30 100 %


Twelve months ended 2023
SP s Annual Income by Country and Business Segments Income
(in millions $)
%
(Profit Margin)
Total 34.70 1.95 %

Twelve months ended 2023
Annual Revenue and Income Growth by Country and Business Segments % Y/Y Sales Growth % Y/Y Income Growth
Lease Type Contracts 6.35 % -
Management Type Contracts 13.75 % -
Reimbursed Management Type Contract Revenue 18.44 % -
Commercial 8.73 % -
Commercial Lease Type Contracts 6.15 % -
Commercial Management Type Contracts 11.16 % -
Aviation 16.33 % -
Aviation Lease Type Contracts 10 % -
Aviation Management Type Contracts 16.7 % -



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