Planet Fitness Inc Stock Price, News & Analysis

Planet Fitness (NYSE: PLNT) has signed a franchise agreement with Fitness Para Todos to expand its presence in Mexico, planning to open at least 80 new locations over the next five years. This partnership benefits from the Ibarra Group's expertise in the Mexican market and Argonne Capital Group's extensive U.S. franchise experience. Currently, Planet Fitness operates five clubs in Monterrey and aims to meet the demand of the 73% of the overweight Mexican population. The fitness chain emphasizes its affordable and high-quality services as it seeks to grow its brand internationally.

Planet Fitness reported a substantial increase in financial performance for Q2 2021, with revenues soaring by 241.1% to $137.3 million. Net income bounced back to $14.0 million from a loss of $29.2 million year-over-year. The fitness chain's membership exceeded 15 million as of July, bolstered by reopening efforts post-pandemic. With 24 new stores opening, the total increased to 2,170. The company anticipates 75 to 100 new openings by year-end and projects total revenue between $530 million and $540 million.

Planet Fitness, Inc. (NYSE: PLNT) will announce its second-quarter results for the period ending June 30, 2021, after market close on August 9, 2021. A conference call to discuss these results is scheduled for 4:30 p.m. Eastern Time on the same day. Investors can join the call via webcast at investor.planetfitness.com or dial in at (833) 380-0404 or (778) 560-2517, using conference number 4818347. A replay of the webcast will be accessible within two hours post-call and will last for one year.

Planet Fitness, a leading fitness center franchise, announced the recipients of its annual Judgement Free Generation® scholarships, awarding $150,000 to 30 teens from the Boys & Girls Clubs of America. Each recipient will receive $5,000 to support their educational goals, with approximately 63% being first-generation college students. Since 2017, Planet Fitness has awarded $650,000 in scholarships and donated over $5 million to anti-bullying initiatives. The company's mission emphasizes inclusion, acceptance, and kindness, vital qualities showcased by the scholarship winners.

Planet Fitness (NYSE: PLNT) has appointed Sherrill Kaplan as the new Chief Digital Officer. Kaplan, who has extensive experience in digital marketing and consumer engagement, will lead the company's digital strategy, focusing on enhancing its mobile app and customer loyalty initiatives. She previously held key roles at brands like Dunkin' and Zipcar and will report directly to CEO Chris Rondeau. This move is part of Planet Fitness' strategy to boost digital innovation and drive growth within its fitness centers, which currently serve over 14.1 million members.

Planet Fitness, Inc. (NYSE: PLNT) announced its participation in three investor conferences. The events include the William Blair 41st Annual Growth Stock Conference on June 1, 2021, the Baird 2021 Global Consumer, Technology & Services Conference on June 10, 2021, and the Jefferies Consumer Conference on June 22, 2021. Each presentation will feature a management fireside chat and will be available via live webcasts. As of March 31, 2021, Planet Fitness boasted over 14.1 million members and 2,146 locations across the U.S. and internationally, promoting a welcoming fitness environment.

Planet Fitness (NYSE:PLNT) announced its Q1 2021 results, with total revenue declining 12.1% to $111.9 million and same-store sales down 14.9%. Membership grew to 14.1 million, reflecting a positive trend influenced by COVID-19 vaccine availability. Net income decreased 40.4% to $5.6 million, or $0.07 per diluted share, while adjusted net income fell 36.9% to $9.1 million. EBITDA also dropped 6.1% year-over-year to $43.7 million. Despite challenges, the company opened 22 new stores, totaling 2,146 locations. A cautious outlook remains due to ongoing COVID-19 uncertainties.

Planet Fitness, Inc. (NYSE: PLNT) announced a minority investment in iFIT, a global fitness technology company, enhancing their existing partnership. This relationship aims to bolster Planet Fitness' digital offerings, making interactive fitness more accessible. CEO Chris Rondeau emphasized that the digital membership could attract those not currently using gyms. The collaboration has already produced new iFIT trainer-led workouts available on the Planet Fitness app, with over 500 free workouts spanning various fitness levels and categories.

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.