Welcome to our dedicated page for Planet Fitness news (Ticker: PLNT), a resource for investors and traders seeking the latest updates and insights on Planet Fitness stock.
Planet Fitness, Inc. (NYSE: PLNT) is a leading franchisor and operator of fitness centers, offering a unique, affordable, and inclusive fitness experience. With over 19.6 million members and more than 2,599 locations across the United States, Puerto Rico, Canada, Panama, Mexico, and Australia as of March 31, 2024, Planet Fitness stands out as one of the fastest-growing health club franchises globally. The company operates under the brand ethos of the Judgement Free Zone®, which aims to provide a non-intimidating, welcoming environment for fitness enthusiasts of all levels.
Founded in 1992 in Dover, NH, Planet Fitness is divided into three primary segments: Franchise, Corporate-owned stores, and Equipment. The Franchise segment is robust, including operations not only in the United States but also in Puerto Rico, Canada, Panama, Mexico, and Australia. The Corporate-owned stores segment encompasses operations across the U.S. and Canada. The Equipment segment involves the sale of fitness equipment to franchisee-owned stores in the U.S., which is a significant revenue stream for the company.
Planet Fitness's business model is centered around providing high-quality fitness experiences at an affordable price, with memberships starting as low as $10 per month. The company's core offerings include state-of-the-art cardio and strength equipment, free weights, clean locker rooms, and unlimited fitness training, making fitness accessible to a broader demographic.
The company has recently reported strong financial performance. For example, the second quarter of 2023 saw total revenue increase by 27.6% to $286.5 million, with net income attributable to Planet Fitness, Inc. rising to $41.1 million. Despite facing external headwinds such as higher new store construction costs and increased interest rates, the company has managed to maintain a strong balance sheet, repurchasing $100 million in shares during the quarter.
As of the third quarter ended September 30, 2023, Planet Fitness reported 8.4% system-wide same-store sales growth, an increase in membership to over 18.5 million, and nearly 2,500 locations globally. The company is focused on enhancing returns on stores and supporting franchisees through a new growth model that reduces capital requirements and extends the timing for equipment replacement and remodels.
In recent corporate developments, Planet Fitness announced the appointment of Colleen Keating as CEO, effective June 10, 2024. Ms. Keating brings over three decades of experience in operations, franchise management, and brand development, promising to drive the next phase of growth for the company.
Planet Fitness's mission remains clear: to enhance people’s lives through high-quality fitness experiences in a welcoming, non-intimidating environment. This mission, coupled with a strong operational strategy and financial discipline, positions Planet Fitness as a resilient and growing brand in the fitness industry.
Planet Fitness (NYSE: PLNT) has announced its participation in the upcoming Raymond James 46th Annual Institutional Investors Conference. The company's management will conduct a fireside chat presentation on March 4, 2025, at 4:00 p.m. Eastern Time.
A live webcast of the presentation will be accessible through the company's investor relations website. As of December 31, 2024, Planet Fitness operates 2,722 clubs across multiple countries including the United States, Canada, Panama, Mexico, Australia, and Spain, serving approximately 19.7 million members. Founded in 1992 in Dover, NH, the company maintains its signature Judgement Free Zone® environment, with approximately 90% of clubs owned and operated by independent business owners.
Planet Fitness (PLNT) reported strong financial results for Q4 and full-year 2024. The company achieved full-year system-wide same club sales growth of 5.0% and added 1 million new members since the end of 2023.
Q4 highlights include total revenue increasing 19.4% to $340.5 million, system-wide same club sales growth of 5.5%, and net income of $47.6 million (up from $36.8 million in prior year). The company opened 86 new clubs during Q4.
For full-year 2024, total revenue increased 10.3% to $1.2 billion, with Adjusted EBITDA growing 12% to $487.7 million. Planet Fitness opened 150 new clubs in 2024, bringing the system-wide total to 2,722 locations.
The company implemented a new economic model for club operations and raised the new member Classic Card price for the first time in over 25 years. For 2025, Planet Fitness expects system-wide same club sales growth of 5-6%, approximately 160-170 new club openings, and revenue and Adjusted EBITDA growth of approximately 10%.
Planet Fitness (NYSE: PLNT) announced a strategic leadership realignment effective March 3, 2025. Bill Bode, currently Division President, U.S. Franchise, will become Chief Operating Officer, overseeing operations for both franchise and corporate clubs. Jennifer Simmons, currently Division President, Corporate Clubs, will assume the role of Chief Strategy Officer.
These changes follow recent appointments of Chip Ohlsson as Chief Development Officer and Brian Povinelli as Chief Marketing Officer. The restructuring aims to support the company's strategic imperatives, including redefining the brand, enhancing member experience, optimizing format, and accelerating club openings.
As of December 31, 2024, Planet Fitness had 19.7 million members and 2,722 clubs across multiple countries, with over 90% of stores owned and operated by independent business owners.
Planet Fitness (NYSE: PLNT) has announced it will release its fourth quarter 2024 financial results before market opening on February 25, 2025. The company will host a conference call at 8:00 a.m. Eastern Time on the same day to discuss the results.
As of December 31, 2024, Planet Fitness operates 2,722 clubs across 50 states and seven countries, serving approximately 19.7 million members. Over 90% of Planet Fitness locations are independently owned and operated by franchisees. The company, founded in 1992 in Dover, NH, has expanded its presence to include locations in the United States, Canada, Panama, Mexico, Australia, and Spain.
Planet Fitness (NYSE: PLNT) has announced key operational metrics for year-end 2024. The company reached 19.7 million members and achieved a 5.0% increase in system-wide same club sales. Throughout 2024, Planet Fitness expanded its footprint by opening 150 new clubs, including 21 corporate-owned locations, bringing the total to 2,722 clubs across multiple countries.
The company highlighted several achievements in 2024, including refinancing partial debt, implementing an accelerated share repurchase program, introducing an enhanced economic model for club operations, increasing the Classic Card price for new members, and evolving their brand strategy. Planet Fitness also strengthened its leadership team with new Chief Development Officer and Chief Marketing Officer appointments. The company plans to release full fiscal year 2024 results and 2025 outlook on February 25, 2025.
Planet Fitness (NYSE: PLNT) has announced two key leadership appointments. Chip Ohlsson will join as Chief Development Officer effective January 20, 2025, and Brian Povinelli as Chief Marketing Officer effective February 10, 2025. Both executives will report to CEO Colleen Keating.
Ohlsson brings 30 years of hospitality industry experience, most recently serving as Executive VP and Chief Development Officer at Wyndham Hotels & Resorts. His background includes experience as a franchisee of a fast-casual restaurant brand. Povinelli joins from Marriott International, where he was Global Head of Marketing & Brand, overseeing strategy for over 25 brands.
These appointments aim to support Planet Fitness's strategic goals, including accelerating club openings, redefining brand strategy, and leveraging the company's industry leadership position.
Planet Fitness (NYSE: PLNT) has announced its participation in the upcoming ICR Conference 2025. The company's management will conduct a fireside chat presentation on January 13, 2025, at 3:00 p.m. Eastern Time. A live webcast will be accessible on their investor relations website.
Founded in 1992 in Dover, NH, Planet Fitness has grown to become one of the largest fitness club franchisors globally. As of September 30, 2024, the company boasts 19.6 million members and 2,637 clubs across multiple countries, including all 50 US states, Puerto Rico, Canada, Panama, Mexico, Australia, and Spain. Operating under their signature Judgement Free Zone® philosophy, over 90% of their clubs are independently owned and operated.
Planet Fitness (NYSE: PLNT) reported strong Q3 2024 results with total revenue increasing 5.3% to $292.2 million. The company achieved system-wide same club sales growth of 4.3% and expanded to 2,637 total clubs. Net income rose to $42.4 million, with adjusted EBITDA growing 10% to $123.1 million. Notable developments include raising the Classic Card membership price to $15 for new members, completing a $280 million share repurchase program, and initiating a new $500 million repurchase program. The company increased its 2024 outlook, now expecting revenue and adjusted EBITDA growth of 8-9%, with system-wide same club sales projected at 4-5%.
Planet Fitness (NYSE: PLNT) has appointed Jay Stasz as its new Chief Financial Officer, effective November 15, 2024. Stasz brings over 25 years of finance experience and will succeed current CFO Tom Fitzgerald, who will remain with the company through December 2024 and serve as a consultant until March 2025. Stasz previously served as CFO at Savers Value Village, where he led their successful IPO in June 2023, and at Ollie's Bargain Outlet. The transition period will begin November 4, 2024, when Stasz joins the company to work alongside Fitzgerald before assuming the CFO role.
Planet Fitness (NYSE: PLNT) announced it will release its third quarter 2024 financial results on November 7, 2024, before market opening. The company will host a conference call at 8:00 a.m. Eastern Time to discuss the results. As of June 30, 2024, Planet Fitness operated 2,617 stores across multiple countries with 19.7 million members. Over 90% of stores are independently owned and operated by franchisees. The company maintains presence in all 50 US states, DC, Puerto Rico, Canada, Panama, Mexico and Australia.
FAQ
What is the current stock price of Planet Fitness (PLNT)?
What is the market cap of Planet Fitness (PLNT)?
What is Planet Fitness's Judgement Free Zone®?
How many members does Planet Fitness have?
What are the main business segments of Planet Fitness?
What is the cost of a Planet Fitness membership?
How many locations does Planet Fitness have?
Who is the new CEO of Planet Fitness?
What was Planet Fitness's revenue for the second quarter of 2023?
What is Planet Fitness's approach to equipment and store remodels?
Where is Planet Fitness headquartered?
What is Planet Fitness's mission?
