Planet Fitness Inc

PLNT

Equity

ISIN US72703H1014 / Valor 28691473

New York Stock Exchange, Inc (2024-12-26)

USD 100.49-0.56%

Planet Fitness Inc
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About company

Planet Fitness Inc., established in 1992 in Dover, New Hampshire, has evolved from a local gym into one of the largest and fastest-growing franchisors and operators of fitness centers globally. The company distinguishes itself by offering affordable, high-quality fitness experiences in a non-intimidating environment, aiming to cater to a broad demographic beyond the traditional gym-going population. With a network exceeding 2,500 locations across 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico, and Australia, Planet Fitness has significantly expanded its reach. The brand's growth strategy emphasizes inclusivity and accessibility, making fitness attainable for a wide range of individuals, which has been central to its rapid expansion and popularity among consumers seeking a welcoming and supportive gym environment.

Summarized from source with an LLMView SourceSector: Consumer Services

Revenue Growth

In the third quarter of 2024, Planet Fitness Inc. reported a total revenue increase of 5.3%, reaching $292.2 million compared to the previous year's $277.6 million. This growth was driven by a 4.3% increase in system-wide same club sales.

Net Income

Planet Fitness Inc.'s net income for the third quarter of 2024 was $42.0 million, or $0.50 per diluted share, up from $39.1 million, or $0.46 per diluted share, in the same period of the previous year. Adjusted net income rose to $54.7 million, or $0.64 per diluted share, reflecting a 5.7% increase.

Adjusted EBITDA

The company's Adjusted EBITDA for the third quarter of 2024 increased by 10.0% to $123.1 million, compared to $111.9 million in the prior year period. This growth was attributed to improvements across various segments, including franchise and corporate-owned clubs.

Share Repurchase Program

Planet Fitness Inc. completed a $280 million accelerated share repurchase agreement in September 2024 and initiated a new $500 million share repurchase program. As of September 30, 2024, the full amount remains available under this new program.

2024 Outlook

For the full year ending December 31, 2024, Planet Fitness Inc. expects revenue to increase by 8% to 9%, with system-wide same club sales growth in the 4% to 5% range. The company also anticipates an 8% to 9% increase in both Adjusted EBITDA and adjusted net income.

Summarized from source with an LLMView Source

Key figures

37.3%1Y

10.4%3Y

34.3%5Y

Performance

29.8%1Y

38.1%3Y

50.7%5Y

Volatility