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 offers a free first month for new members from May 3-12, aiming to improve mental and physical health post-COVID-19. A national study revealed that 77% of Americans felt their wellbeing negatively impacted by the pandemic, with 56% prioritizing mental wellness less. The offer includes $0 enrollment and $10 monthly fees, with no commitment. New wellness workouts are provided, enhancing accessibility and affordability for fitness. Enhanced sanitization and safety measures are in place at clubs, promoting a safe environment for returning members.
Planet Fitness (NYSE: PLNT) has appointed Mary Bradley as Senior Vice President of Corporate Club Operations, effective immediately. Bradley, with over 20 years of experience in operations management at global brands like Starbucks and Godiva, will oversee the company's Corporate Club portfolio of 104 stores across the U.S. and Canada. She will report to COO Bill Bode. Bradley seeks to enhance operations and drive growth as fitness becomes increasingly vital to consumers post-pandemic.
Planet Fitness (NYSE: PLNT) will announce its first-quarter financial results for the period ending March 31, 2021, post-market on May 6, 2021. A conference call to discuss these results is scheduled for 4:30 p.m. Eastern Time on the same day, with a live webcast available at investor.planetfitness.com. Investors can also join the call via phone at (833) 380-0404 or (778) 560-2517, using conference number 8549758. An audio replay will be accessible shortly after the call and available for one year.
Planet Fitness announces a limited-time offer from April 12 to 14, allowing new members to join for just $1 down and $10 a month, with no commitment. This initiative encourages individuals to prioritize their fitness and mental wellness, especially after recent challenges. The company emphasizes member safety with enhanced COVID-19 protocols, including touchless check-in and real-time crowd monitoring through their app. As of December 31, 2020, Planet Fitness boasts approximately 13.5 million members across 2,124 locations globally.
Planet Fitness (NYSE: PLNT) announced its participation in two upcoming conferences. The first is the Raymond James Institutional Investor Conference on March 3, 2021, with a fireside chat scheduled for 9:10 AM Eastern Time. The second event is the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on March 11, 2021, where management will present at 2:45 PM Eastern Time. Both presentations will be available via live webcast on the company's investor relations page.
Planet Fitness reported its Q4 2020 results, revealing a 30.1% decrease in total revenue to $133.8 million. Net income was $8.7 million or $0.11 per diluted share, down from $29.7 million in Q4 2019. Adjusted EBITDA fell 33.3% to $51.1 million. The fiscal year also saw a 41.0% decline in total revenue to $406.6 million, and a net loss of $15.0 million. Despite challenges, the company opened 41 new stores in Q4, reaching a total of 2,124 stores. CEO Chris Rondeau expressed optimism for 2021 as vaccination efforts progress.
Planet Fitness announces a promotional offer from February 1 to 11, featuring $0 enrollment and a monthly fee of $10 with no commitment. This initiative aligns with American Heart Month, emphasizing the importance of maintaining heart health through exercise. The company showcases its commitment to member safety through enhanced sanitation protocols, including touchless check-ins and real-time crowd monitoring via its app. As of September 30, 2020, Planet Fitness boasted over 14.1 million members and 2,086 stores globally.
Planet Fitness, Inc. (NYSE: PLNT) announced it will report its fourth quarter results ending December 31, 2020, after the market closes on February 18, 2021. A conference call to discuss the financial results is scheduled for 4:30 p.m. Eastern Time on the same day. Investors can access a live webcast of the call at investor.planetfitness.com, with an audio replay available within two hours post-call for one year. As of September 30, 2020, Planet Fitness had over 14.1 million members and 2,086 locations, making it a leading fitness center operator in the U.S.
Planet Fitness announces a limited-time offer from January 25 to 27, 2021, allowing new members to join with $0 enrollment and a monthly fee of $10 with no commitment. The campaign aims to promote fitness as a priority in the New Year, capitalizing on the trend where 91% of Americans set fitness resolutions. Enhanced safety measures, including real-time crowd monitoring and sanitization protocols, are highlighted as key benefits for members. The company's membership count is over 14.1 million, with 2,086 locations across the U.S. and abroad.
Planet Fitness announced the appointment of Bernard Acoca and Christopher Tanco to its Board of Directors, effective immediately. Acoca, CEO of El Pollo Loco, and Tanco, COO of 7-Eleven, bring extensive experience in operations and franchising. This strategic move aims to enhance the board's expertise and align with the company's long-term strategy to provide an affordable, high-quality fitness experience. The Board now comprises eight directors, emphasizing their commitment to driving value for shareholders and capitalizing on growth opportunities.
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