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. (PLNT) operates as a leading fitness franchisor renowned for its Judgement Free Zone® philosophy and affordable membership model. This hub provides investors and industry observers with essential updates on corporate developments, financial performance, and strategic initiatives shaping the company's growth in the health and wellness sector.
Access real-time announcements including quarterly earnings disclosures, franchise expansion plans, and operational enhancements. Our curated collection serves as a centralized resource for understanding PLNT's market position, partnership agreements, and innovations in gym operations.
Key updates cover corporate-owned store performance, equipment supply chain developments, and membership trend analyses. Content is rigorously verified to ensure alignment with regulatory standards and factual accuracy for informed decision-making.
Bookmark this page for streamlined access to Planet Fitness's evolving story within the competitive fitness landscape. Regularly refreshed content ensures you remain current with material developments impacting PLNT's operational and financial trajectory.
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.
Planet Fitness, Inc. (NYSE: PLNT) reported Q2 2024 financial results, showing solid growth. Key highlights include:
- Total revenue increased 5.1% to $300.9 million
- System-wide same store sales grew 4.2%
- Net income rose to $49.3 million, up from $44.2 million in Q2 2023
- Adjusted EBITDA increased 7.2% to $127.5 million
The company executed a $280 million Accelerated Share Repurchase and completed an $800 million debt refinancing. Planet Fitness reiterated its 2024 outlook, expecting 140-150 new store openings and 3-5% system-wide same store sales growth. CEO Colleen Keating expressed confidence in the company's growth potential and commitment to enhancing shareholder value.
Planet Fitness, Inc. (NYSE: PLNT) has announced it will report its second quarter 2024 financial results on August 6, 2024, before the market opens. The company will host a conference call at 8:00 a.m. Eastern Time on the same day to discuss the results. A live webcast will be available on the investor relations website, and a dial-in option is provided through pre-registration.
For those unable to attend live, a digital recording will be accessible until August 13, 2024. As of March 31, 2024, Planet Fitness had approximately 19.6 million members and 2,599 stores across multiple countries, with over 90% of stores independently owned and operated.
Planet Fitness (NYSE: PLNT) has announced a $280 million Accelerated Share Repurchase (ASR) agreement with Citibank, part of its $500 million share repurchase authorization from November 2022. As of June 13, 2024, $355 million remained in this authorization. The ASR will initially provide about 3.1 million shares, 80% of the expected repurchase. Final settlement is due by Q3 2024. A new $500 million share repurchase program will replace the existing one upon ASR completion. For 2024, adjusted net income is now forecasted to grow by 4-6% (previously 6-8%), and adjusted net income per share, diluted to rise by 7-9% (previously 8-10%). Net interest expense is expected at $75 million, up from $70 million.
Planet Fitness (PLNT) has completed its refinancing transaction, issuing $800 million in Class A-2 Senior Secured Notes. These notes are divided into two tranches: $425 million at a 5.765% fixed interest rate for five years, and $375 million at a 6.237% fixed interest rate for ten years.
The proceeds will repay $591 million of 2018-1 Class A-2-II Notes, cover transaction costs, fund reserve accounts, and support general corporate purposes, including potential share repurchases. As of March 31, 2024, Planet Fitness had 19.6 million members and 2,599 stores worldwide.
Planet Fitness (NYSE: PLNT) has announced the pricing of $800 million in Series 2024-1 Class A-2 Fixed Rate Senior Secured Notes. These notes are split into two tranches: $425 million with a 5.765% interest rate over five years, and $375 million with a 6.237% interest rate over ten years. The notes, issued by Planet Fitness Master Issuer , will repay $591 million in 2018-1 Class A-2-II Notes, cover transaction costs, and fund general corporate purposes, including potential share repurchases. Closing is expected around June 12, 2024, subject to conditions.
Planet Fitness announced a proposed refinancing transaction involving the issuance of new debt to repay existing obligations. The company plans to issue $600 million in Series 2024-1 Fixed Rate Senior Secured Notes, potentially upsizing to $800 million. These funds will be used to repay $591 million of Series 2018-1 Class A-2-II Notes, cover transaction costs, and support general corporate purposes, potentially including share repurchases. As of March 31, 2024, Planet Fitness had $2.0 billion in outstanding debt. The transaction is expected to close in June 2024, subject to market conditions.
Planet Fitness, Inc. reported a 6.2% increase in system-wide same store sales for the first quarter of 2024, ending with approximately 19.6 million members. The company repurchased $20.0 million in shares and updated its 2024 outlook. Despite facing headwinds like consumer savings focus and COVID concerns, Planet Fitness remains focused on growth and shareholder value. The company's total revenue increased by 11.6% to $248.0 million, with net income growing to $34.3 million. Adjusted net income and EBITDA also saw positive growth, supporting the company's strategic priorities and franchisee support. The future outlook remains optimistic with expected revenue growth and new store openings.
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