SP - SP Plus announces $60M new buyback program

SP Plus (NASDAQ:SP) announced Tuesday a new buyback program to repurchase up to $60M of its shares in open market, from time to time. Marc Baumann, Chairman and Chief Executive Officer, stated, “Our new share repurchase authorization underscores the Board's and management’s confidence in our long-term outlook and strong growth prospects. We believe our ability to generate significant free cash flow provides flexibility to execute on a multi-faceted capital allocation strategy to create additional shareholder value, which includes investments to accelerate organic growth, acquisitions and opportunistic share repurchases.” Earlier: SP Plus Non-GAAP EPS of $0.60 beats by $0.17, revenue of $349.8M beats by $193.84M

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SP Plus announces $60M new buyback program