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. operates and franchises fitness clubs under a subscription-based model and reports developments across its Franchise, Corporate-owned clubs and Equipment segments. News commonly covers quarterly and annual results, system-wide same-club sales, membership trends, club openings, equipment placements in franchisee-owned locations and updates to operating outlook.
The company’s updates also address its club network in the United States and select international markets, franchisee activity, membership initiatives, board appointments and executive finance leadership changes.
Planet Fitness, Inc. (NYSE: PLNT) has launched a redesigned version of its mobile app, aimed at enhancing the user experience for both members and non-members. The app features a new home screen design, a 'Member Perks' section for exclusive discounts, and an upgraded 'Workouts' section offering hundreds of on-demand digital workouts. Additionally, the app introduces the 'My Journey' feature to help users track fitness activities. The updated app continues Planet Fitness's mission to make fitness accessible and convenient for everyone, fostering engagement both inside and outside gym facilities.
Planet Fitness announced it and its community have collectively raised over $8 million since 2016 for the Boys & Girls Clubs of America through The Judgement Free Generation® initiative. In October, $500,000 was raised during a fundraising effort for National Bullying Prevention Month. The funds support youth programming and scholarships, promoting kindness and inclusion. CEO Chris Rondeau emphasized the company's commitment to mental and physical wellness, while BGCA President Jim Clark expressed gratitude for the partnership.
Planet Fitness (NYSE: PLNT) held its inaugural Investor Day on November 15, 2022, in New York City, showcasing its robust asset-light franchise model. The company aims to double its member base, grow store count, and enhance digital engagement through its app. Financial targets include annual revenue growth in the low-to-mid teens, adjusted EBITDA growth in the high teens, and adjusted EPS growth of low-to-mid 20%, supported by a $500 million share repurchase authorization. CEO Chris Rondeau emphasized the company’s strong position post-pandemic.
Planet Fitness reported strong third quarter 2022 results, with total revenue up 58.4% to $244.4 million. The company ended the quarter with a record membership of over 16.6 million. System-wide same store sales increased by 8.2%. Adjusted net income rose to $38.2 million, or $0.42 per diluted share, while Adjusted EBITDA also increased to $93.9 million. The board authorized a $500 million share repurchase program, replacing the previous one. The outlook for 2022 includes revenue growth in the high-50% range and adjusted EBITDA growth of approximately 60%.
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.