Planet Fitness Inc Stock Price, News & Analysis

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.

Planet Fitness, Inc. (NYSE: PLNT) will report its first quarter results on May 10, 2022, prior to market opening. A conference call to discuss the financial results is scheduled for 8:00 a.m. ET on the same day. Investors can access the call via webcast or by dialing (844) 200-6205 or (929) 526-1599, with conference number 920672. An audio replay will be available within two hours post-call and last for a year. As of December 31, 2021, Planet Fitness had 15.2 million members and 2,254 locations globally.

Planet Fitness invites everyone to de-stress this tax season with a free workout and HydroMassage from April 15 to 18 at over 2,200 locations nationwide. This offer, available to members and non-members, allows participants to relax with HydroMassage, which provides customizable massage experiences. The initiative highlights Planet Fitness's commitment to member safety with enhanced COVID-19 protocols, earning the WELL Health-Safety Rating for its facilities. Interested individuals can find their nearest club at PlanetFitness.com.

Planet Fitness, Inc. (NYSE: PLNT) announced its participation in the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on March 7, 2022, at 8:00 am Pacific Time. A live webcast of the presentation will be available on their investor website. As of December 31, 2021, Planet Fitness had 15.2 million members and operates 2,254 stores across multiple regions, including the U.S., Canada, and Mexico. The company's mission is to provide a welcoming fitness experience in a non-intimidating environment.

Planet Fitness, Inc. (PLNT) reported strong fourth-quarter results for 2021, with total revenue rising by 37.3% to $183.6 million. The company surpassed its pre-pandemic membership peak, reaching 15.6 million members. Adjusted net income also grew 49.6% to $22.5 million, or $0.26 per diluted share. The fiscal year saw total revenue increase 44.4% to $587 million, with a net income of $42.8 million. The acquisition of Sunshine Fitness adds over 100 locations to their portfolio, enhancing growth opportunities.

Planet Fitness has successfully completed the acquisition of Sunshine Fitness Growth Holdings, which includes 114 fitness locations across several southeastern states. This move, valued at up to $325 million, aligns with Planet Fitness's strategy to increase its corporate store ownership to 10 percent of its portfolio, enhancing its asset-light model. Additionally, the Company issued $900 million in Senior Secured Notes to finance the acquisition and refinance existing debt. CEO Chris Rondeau emphasized the long-term opportunities for growth within the fitness industry amidst current market challenges.

Planet Fitness, Inc. (NYSE: PLNT) announced its fourth quarter results for 2021 will be reported on February 24, 2022, before market opening. A conference call for discussing these results is set for 8:00 a.m. ET that same day, accessible via webcast or dial-in at (844) 200-6205. As of December 31, 2021, Planet Fitness boasted 15.2 million members across 2,254 locations globally. The company aims to provide a Judgement Free Zone® experience to enhance fitness accessibility.

On February 7, 2022, Planet Fitness announced a study revealing that Americans typically abandon New Year's resolutions after just 41 days. To combat this, the company has declared February 11 as "Resolution Reset Day," encouraging individuals to renew their fitness commitments. The study highlights that 91% of resolution-setters have fitness goals, primarily aimed at improving health and self-image. Planet Fitness is promoting a limited-time offer with $0 enrollment and $10 monthly fees from February 7 to 16. The brand also emphasizes its commitment to member safety with enhanced COVID-19 protocols.

Planet Fitness, Inc. has priced $900 million of Series 2022-1 Class A-2 Fixed Rate Senior Secured Notes, consisting of two tranches: $425 million due in five years with a 3.251% interest rate, and $475 million due in ten years with a 4.008% interest rate. Proceeds will be used to repay approximately $556.3 million of existing notes and fund part of the $325 million acquisition of Sunshine Fitness. The transactions are expected to close around February 10, 2022, subject to certain conditions.