SP Plus Corp [CRLKP] has reported a net loss of $34.7 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $1.8 billion
Based in CHICAGO, Illinois, SP Plus Corp operates in the SERVICES sector.
In the annual report for SP Plus Corporation ending on December 31, 2023, the following key financial metrics were observed:
- Services revenue increased to $1,782.3 million in 2023 from $1,553.5 million in 2022, showing significant growth compared to the previous year's revenue of $1,177.2 million.
- Cost of services (exclusive of depreciation and amortization) also increased to $1,528.3 million in 2023 from $1,331.8 million in 2022 and $997.4 million in 2021. This increase indicates higher expenses incurred by the company in delivering services.
- Operating income decreased slightly to $77.5 million in 2023 from $82.9 million in 2022 but showed an improvement from $66.5 million in 2021.
- Net income attributable to SP Plus Corporation was $31.1 million in 2023, down from $45.2 million in 2022 but higher than $31.7 million in 2021.
- The earnings per share for basic and diluted amounts were $1.58 and $1.57, respectively, in 2023, compared to $2.17 and $2.15 in 2022 and $1.50 and $1.48 in 2021.
- The weighted average shares outstanding for basic and diluted calculations showed a decrease over the three years, indicating possible share buybacks or issuance activities.
The Company showcased growth in revenue but experienced a decline in net income in the current reporting period compared to the previous year. This might be attributed to increased operating expenses impacting the bottom line profitability of the company.
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