Planet Fitness Inc Stock Price, News & Analysis

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.

On January 11, 2022, Planet Fitness (NYSE: PLNT) announced a definitive agreement to acquire Sunshine Fitness Growth Holdings, which operates over 100 Planet Fitness clubs in the Southeastern United States, in a cash and stock deal valued at $800 million. The acquisition is expected to enhance Planet Fitness' corporate store portfolio, growing from approximately 10% of total stores to over 200 locations. The transaction, anticipated to close in Q1 2022, is projected to be accretive to the company's adjusted net income per diluted share in the low double-digit percent range.

Planet Fitness has been ranked #7 overall in Entrepreneur magazine's Franchise 500®, leading the fitness category for its impressive performance in unit growth, financial strength, and brand power. This recognition marks the fourth consecutive year the company has achieved this honor. With over 15 million members and 2,193 locations as of September 30, 2021, Planet Fitness offers affordable memberships starting at $10. Their mission focuses on providing a welcoming, non-intimidating fitness experience, contributing to their growth and market presence.

Planet Fitness, a leading fitness center franchisor, will participate in the ICR Conference 2022 on January 11, 2022, at 11:30 am Eastern Time. The company is known for its Judgement Free Zone® philosophy and has grown rapidly, boasting over 15 million members and 2,193 locations across the U.S., Canada, and other countries as of September 30, 2021. A live webcast of the presentation can be accessed via their investor relations page.

Planet Fitness has become the first fitness brand to earn the WELL Health-Safety Rating from the International WELL Building Institute (IWBI), highlighting its commitment to safety and health in its nearly 2,200 clubs worldwide. This rating, awarded after rigorous third-party verification, recognizes Planet Fitness for adopting science-backed measures to enhance air quality, hygiene, and emergency preparedness. The WELL Health-Safety seal will soon be displayed at all locations, assuring members of a safe workout environment as the company continues to prioritize health and wellness.

Planet Fitness has announced a limited-time holiday promotion inviting new members to join for just $1 down and $10 per month from December 13 to 15. The campaign emphasizes the importance of mental and physical health and promotes their Judgement Free Zone environment, appealing to individuals of all fitness levels. Enhanced COVID-19 safety measures are in place, including touchless check-ins and increased sanitization. As of September 30, 2021, Planet Fitness reported over 15 million members and 2,193 clubs across several countries.