Planet Fitness(PLNT)

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Planet Fitness(PLNT) - 2023 Q1 - Quarterly Report
2023-05-07 16:00
Membership and Store Growth - As of March 31, 2023, Planet Fitness had over 18.1 million members and 2,446 stores across various regions, including the U.S., Canada, and Australia[128] - The company opened 36 new stores during the three months ended March 31, 2023, compared to 37 new stores in the same period of 2022[135] - Planet Fitness had commitments to open more than 1,000 new stores under existing agreements, indicating strong future growth potential[128] - The number of franchisee-owned stores increased to 2,211 as of March 31, 2023, from 2,062 a year earlier, demonstrating effective expansion strategies[135] Financial Performance - Total revenue for the three months ended March 31, 2023, was $222.2 million, a 19.0% increase from $186.7 million in the same period of 2022[130] - Net income for the three months ended March 31, 2023, was $24,769,000, compared to $18,376,000 for the same period in 2022, representing a year-over-year increase of 35.0%[149] - Adjusted net income for the three months ended March 31, 2023, was $36,391,000, compared to $28,548,000 in the prior year, indicating a 27.5% increase[149] - Net income attributable to Planet Fitness, Inc. was $22.7 million, an increase from $16.5 million in the prior year, reflecting a net income margin of 10.4%[158] Revenue Breakdown - Franchise revenue increased to $75.9 million, up $9.8 million or 14.8% from $66.1 million in the prior year, driven by a same-store sales increase of 9.7%[160] - Revenue from corporate-owned stores rose to $105.9 million, a 39.0% increase from $76.2 million, with $23.5 million attributed to the acquisition of 114 stores[162] - Equipment segment revenue decreased to $23.7 million, down $6.8 million or 22.3% due to lower equipment sales to new franchisee-owned stores[163] EBITDA and Operational Efficiency - Segment EBITDA for the Franchise segment was $64.7 million, up from $60.1 million year-over-year, while Corporate-owned stores segment EBITDA increased to $33.5 million from $23.4 million[130] - EBITDA for the three months ended March 31, 2023, was $88.0 million, an increase from $78.2 million in the same period of 2022, highlighting improved operational efficiency[130] - Adjusted EBITDA for Q1 2023 was $90,211,000, up from $76,687,000 in Q1 2022, reflecting a growth of 17.6%[149] Cash Flow and Capital Expenditures - For the three months ended March 31, 2023, net cash provided by operating activities was $97.9 million, an increase of $39.9 million compared to $58.0 million in the same period of 2022[183] - Net cash used in investing activities decreased to $23.0 million from $449.7 million in the prior year, primarily due to a $425.8 million cash outflow for the Sunshine Acquisition in the previous period[184] - Total capital expenditures for the three months ended March 31, 2023, were $22.997 million, slightly down from $23.872 million in the same period of 2022[184] Legal and Financial Liabilities - The company recorded a legal liability increase of $3,300,000 related to a settlement agreement, bringing the total estimated liability to $11,850,000 as of March 31, 2023[147] - Interest expense for Q1 2023 was $21,599,000, slightly down from $22,631,000 in Q1 2022, showing a decrease of 4.6%[149] - The provision for income taxes was $9,567,000 in Q1 2023, compared to $11,711,000 in Q1 2022, representing a decrease of 18.3%[149] Market and Economic Conditions - Future operating performance and ability to service debt will be influenced by economic conditions and various uncontrollable factors[180] - The company is exposed to foreign exchange fluctuations, particularly with the Canadian dollar, Mexican peso, and Australian dollar, but a 10% change in exchange rates would have a negligible impact on net income[192]
Planet Fitness(PLNT) - 2023 Q1 - Earnings Call Transcript
2023-05-04 17:00
Planet Fitness, Inc. (NYSE:PLNT) Q1 2023 Earnings Conference Call May 4, 2023 8:00 AM ET Company Participants Stacey Caravella - Vice President, Investor Relations Chris Rondeau - Chief Executive Officer Tom Fitzgerald - Chief Financial Officer Edward Hymes - President & Chief Operating Officer Conference Call Participants Randy Konik - Jefferies Simeon Siegel - BMO Capital Markets Maksim Rakhlenko - Cowen Chris O'Cull - Stifel Jonathan Komp - Baird Rahul Krotthapalli - JPMorgan John Heinbockel - Guggenheim ...
Planet Fitness(PLNT) - 2022 Q4 - Annual Report
2023-02-28 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-37534 PLANET FITNESS, INC. (Exact name of Registrant as specified in its Charter) (State or Other Jurisdiction of Incorporation or Organ ...
Planet Fitness(PLNT) - 2022 Q4 - Earnings Call Transcript
2023-02-23 18:57
Planet Fitness, Inc. (NYSE:PLNT) Q4 2022 Earnings Conference Call February 23, 2023 8:00 AM ET Company Participants Stacey Caravella - Vice President of Investor Relations Chris Rondeau - Chief Executive Officer Tom Fitzgerald - Chief Financial Officer Edward Hymes - President and Chief Operating Officer Conference Call Participants Simeon Siegel - BMO Capital Markets John Heinbockel - Guggenheim Brian Harbour - Morgan Stanley Alex Perry - Bank of America Jonathan Komp - Baird Joe Altobello - Raymond James ...
Planet Fitness(PLNT) - 2022 Q3 - Earnings Call Transcript
2022-11-08 19:43
Planet Fitness, Inc. (NYSE:PLNT) Q3 2022 Earnings Conference Call November 8, 2022 8:00 AM ET Company Participants Stacey Caravella - Vice President of Investor Relations Chris Rondeau - Chief Executive Officer Tom Fitzgerald - Chief Financial Officer Conference Call Participants Randy Konik - Jefferies Brian Harbour - Morgan Stanley Joe Altobello - Raymond James Alex Perry - Bank of America Warren Cheng - Evercore ISI Max Rakhlenko - Cowen & Company Jonathan Komp - Robert W. Baird & Co. Simeon Siegel - BMO ...
Planet Fitness(PLNT) - 2022 Q2 - Earnings Call Transcript
2022-08-09 16:06
Planet Fitness, Inc. (NYSE:PLNT) Q2 2022 Results Conference Call August 9, 2022 8:00 AM ET Company Participants Stacey Caravella - VP, IR Chris Rondeau - CEO Tom Fitzgerald - CFO Dorvin Lively - President Conference Call Participants Randy Konik - Jefferies John Heinbockel - Guggenheim Partners Brian Harbour - Morgan Stanley Max Rakhlenko - Cowen & Company Sharon Zackfia - William Blair Jonathan Komp - Baird John Ivankoe - JP Morgan Garrett Klingshirn - BMO Capital Alex Perry - Bank of America Chris O'Cull ...
Planet Fitness(PLNT) - 2022 Q2 - Quarterly Report
2022-08-08 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________to ______________ Commission file number: 001-37534 PLANET FITNESS, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of ...
Planet Fitness(PLNT) - 2022 Q1 - Earnings Call Transcript
2022-05-10 16:28
Planet Fitness, Inc. (NYSE:PLNT) Q1 2022 Earnings Conference Call May 10, 2022 8:00 AM ET Company Participants Stacey Caravella - Investor Relations Chris Rondeau - Chief Executive Officer Tom Fitzgerald - Chief Financial Officer Conference Call Participants Randy Konik - Jefferies Brian Harbour - Morgan Stanley Max Rakhlenko - Cowen and Company Sharon Zackfia - William Blair Simeon Siegel - BMO Capital Markets John Ivankoe - JPMorgan Jonathan Komp - Baird John Heinbockel - Guggenheim Warren Cheng - Evercor ...
Planet Fitness(PLNT) - 2022 Q1 - Quarterly Report
2022-05-09 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________to ______________ Commission file number: 001-37534 PLANET FITNESS, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction o ...
Planet Fitness(PLNT) - 2021 Q4 - Annual Report
2022-02-28 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-37534 PLANET FITNESS, INC. (Exact name of Registrant as specified in its Charter) (State or Other Jurisdiction of Incorporation or Organ ...