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) announced key leadership changes on November 3, 2022. Jennifer Simmons has been promoted to Division President of Corporate Clubs, overseeing performance and growth of over 200 corporate locations across 14 states and Canada. Paul Barber joins as Chief Information Officer, tasked with enhancing technology to optimize member experience and operations. Both leaders bring extensive experience, with Simmons having been at Planet Fitness since 2013, and Barber having a strong background in technology roles across various industries.
Planet Fitness, Inc. (NYSE: PLNT) announced its upcoming Investor Day scheduled for November 15th at the New York Stock Exchange. The event will run from 10:00 a.m. to 12:00 p.m. EST and will feature presentations from the senior executive leadership team, focusing on the Company's strategic vision, operating and growth strategy, and multi-year financial targets. In-person attendance is limited and by invitation only, but a live broadcast and on-demand replay will be accessible on the Company’s investor website.
Planet Fitness will announce its third quarter results for the period ending September 30, 2022, on November 8, 2022, prior to market opening. A conference call to discuss the results is scheduled for 8:00 a.m. Eastern Time on the same day. Investors can access the call via dial-in numbers (844) 200-6205 or (929) 526-1599, using conference number 968295. An audio replay of the call will be available within two hours and accessible for one year. With over 16.5 million members and 2,324 locations, Planet Fitness aims to provide a welcoming fitness experience in a Judgement Free Zone.
Planet Fitness, Inc. (NYSE: PLNT) announced its participation in the Jefferies Virtual Fitness & Wellness Summit, scheduled for September 12, 2022, at 11:45 am Eastern Time. A live webcast will be available at http://investor.planetfitness.com. As of June 30, 2022, Planet Fitness boasted 16.5 million members and operates 2,324 locations across multiple countries, including the U.S. and Canada. The company aims to provide a welcoming fitness experience dubbed the 'Judgement Free Zone®'.
Planet Fitness has promoted Jamie Medeiros, a 22-year veteran of the company, to Chief Brand Officer. Medeiros will oversee brand strategy and marketing initiatives, reporting directly to CEO Chris Rondeau. Her extensive experience includes significant marketing campaigns like 'Lift Things' and 'No Gymtimidation,' which have enhanced the brand's visibility. As of June 30, 2022, Planet Fitness boasted 16.5 million members across 2,324 locations. The company aims to promote a welcoming fitness environment through its 'Judgement Free Zone®' philosophy.
Planet Fitness reported strong Q2 2022 results with a 63.5% revenue increase to $224.4 million and a net income rise to $22.3 million. The company ended the quarter with over 16.5 million members and achieved a 13.6% increase in system-wide same store sales. The High School Summer Pass program saw over 3.3 million teen participants. Adjusted EBITDA improved to $89.9 million, reflecting a robust business recovery. As of June 30, 2022, Planet Fitness operated 2,324 stores. The company is optimistic about continued growth amid the ongoing emphasis on health and wellness.
Planet Fitness (NYSE: PLNT) will announce its second quarter financial results for the period ending June 30, 2022, on August 9, 2022. The report will be available before the market opens and will be followed by a conference call at 8:00 a.m. Eastern Time. Investors can access the live webcast at Planet Fitness Investor Relations or via dial-in numbers (844) 200-6205 and (929) 526-1599, using conference number 591858. An audio replay of the call will be available shortly after its conclusion.
Planet Fitness, Inc. (NYSE: PLNT) announced its participation in Cowen's Future of the Consumer Conference, scheduled for May 24, 2022, at 9:20 am Eastern Time. A live webcast will be available at investor.planetfitness.com. Founded in 1992 in Dover, NH, Planet Fitness has over 16.2 million members and 2,291 locations in the U.S., Canada, and more as of March 31, 2022. The company focuses on providing a welcoming fitness experience, promoting its Judgement Free Zone® concept.
Planet Fitness has signed an Area Development Agreement with Castle Point Fitness NZ Ltd. to expand its presence in New Zealand. This agreement will see the opening of at least 25 new locations over the coming years, part of the company's strategic growth plans. With about 86% of the New Zealand population not currently belonging to a gym, this expansion is poised to meet significant market demand. Currently, Planet Fitness has over 16.2 million members and 2,291 clubs across multiple countries, aiming to provide affordable fitness options worldwide.
Planet Fitness (PLNT) reported strong Q1 2022 results with a 66.9% revenue increase to $186.7 million and net income of $16.5 million, up from $5.6 million in the prior year. The company ended the quarter with over 16.2 million members and system-wide same store sales rose 15.9%. Key developments include the acquisition of Sunshine Fitness, contributing to store growth and diversification, and a successful debt refinancing. Outlook for 2022 projects mid-50% revenue growth and increased adjusted EBITDA.
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?
