Feb 22, 2026
Superior Plus (SPB) dropped over 18% Friday after releasing a Q4 beat, owing to a 2026 guide that landed well below expectations - calling for 2% EBITDA growth…
… which is anchored by continued pressure in its CNG business (4-9% decline expected). With slower profit growth comes slower leverage reduction, so management raised its 2027 target by 0.5x…
… and is calling for limited improvement through this year, which could keep a lid on SPB’s multiple until catalysts get closer.
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