Planet Fitness, Inc. (PLNT) reported stellar second-quarter 2024 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate and increasing year over year. The quarter's performance was driven by contributions from new store openings, higher royalty revenues and an asset-light growth model. The strength in the contributions from these factors was reflected in the year-overyear increase in system-wide same-store sales. The company aims to define its growth prospects by capitalizing on m ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Planet Fitness (PLNT) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.65 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 9.23%. A quarter ago, it was expected that this fitness center operator would post earnings of $0.49 per share when it actually produced earnings of $0.53, delivering a surprise of 8.16%. Over the last four quarter ...

1 IF D H HT T 100 - 100 1 i T 1 Pgiam/iStock via Getty Images Investment Thesis Planet Fitness (NYSE:PLNT) is a leading franchisor and operator of fitness centers that could benefit from the growing demand for affordable and accessible fitness solutions. PLNT has achieved significant growth in its membership base and store footprint over the years, given its slightly differentiated model that attracts a more unique gym 'customer'. The company operated -2,600 stores across at the end of Q. Its footprint is i ...

Core Viewpoint - The article emphasizes the importance of the VGM Score, which combines value, growth, and momentum styles to identify attractive investment opportunities, particularly in conjunction with the Zacks Rank [1][15]. Company Overview - Planet Fitness (PLNT) is a leading franchisor and operator of fitness centers in the United States, with approximately 19.6 million members and 2,599 stores across various regions, including the U.S., Canada, and Australia as of March 31, 2024 [8]. - As of December 31, 2023, about 90% of all franchise stores were owned and operated by franchisee groups [8]. Earnings Estimates - For fiscal 2024, three analysts have revised their earnings estimates upwards in the last 60 days, with the Zacks Consensus Estimate increasing to $2.43 per share [5]. Zacks Rank and Style Scores - The Zacks Rank utilizes earnings estimate revisions to help investors build successful portfolios, with a focus on stocks rated 1 (Strong Buy) or 2 (Buy) [6][7]. - Stocks with a 3 (Hold) rank should also have Style Scores of A or B to maximize upside potential [7]. - The Zacks Style Scores categorize stocks based on value, growth, and momentum characteristics, assigning ratings from A to F, where A indicates the best chance of outperforming the market [15][16]. Investment Recommendation - Planet Fitness is currently rated 3 (Hold) on the Zacks Rank but has a VGM Score of A, indicating strong potential for investors [19]. - The stock has a Momentum Style Score of A, with shares increasing by 1.9% over the past four weeks, making it a noteworthy option for momentum investors [21][22].

The shares of Planet Fitness Inc (NYSE:PLNT) are up 3.1% before the bell, after TD Cowen upgraded the recreation stock to "buy" from "hold" and raised its price target to $92 from $66. The analyst in coverage called PLNT a "top pick" and an "early turnaround play," saying its catalyst path is hard to ignore and pointed towards the upside to valuation. This bull note could cause a sentiment shift in the options pits. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX ...

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Core Viewpoint - Planet Fitness has entered into a $280 million accelerated share repurchase agreement with Citibank as part of its $500 million share repurchase authorization, indicating a strong commitment to returning capital to shareholders [1][4]. Share Repurchase Program - The company will pay Citibank $280 million in cash and will initially receive approximately 3.1 million shares of its Class A common stock, representing about 80% of the expected repurchases under the agreement [4]. - A new share repurchase program of up to $500 million has been authorized, which will replace the existing 2022 program upon completion of the ASR Agreement [5]. Financial Outlook for 2024 - Adjusted net income is now expected to increase in the range of 4% to 6%, down from a previous expectation of 6% to 8% [7]. - Adjusted net income per share, diluted, is anticipated to rise by 7% to 9%, based on approximately 86.5 million diluted weighted-average shares outstanding [7]. - The company now expects net interest expense for 2024 to be around $75 million, an increase from the previous estimate of $70 million [8]. Company Overview - Planet Fitness, founded in 1992, is one of the largest and fastest-growing fitness center operators globally, with approximately 19.6 million members and 2,599 locations as of March 31, 2024 [9]. - The company's mission is to provide a high-quality fitness experience in a welcoming environment, known as the Judgement Free Zone [9].

Core Viewpoint - Planet Fitness, Inc. has completed a refinancing transaction involving the issuance of $800 million in securitized notes, aimed at improving its financial structure and supporting corporate activities [4][5]. Group 1: Details of the 2024 Notes - The 2024 Notes consist of $800 million Class A-2 Senior Secured Notes, issued in two tranches: Class A-2-I with a principal amount of $425 million and a fixed interest rate of 5.765% per annum, and Class A-2-II with a principal amount of $375 million and a fixed interest rate of 6.237% per annum [3]. Group 2: Use of Proceeds - Proceeds from the 2024 Notes will be utilized to repay the Series 2018-1 Class A-2-II Notes, which had a principal balance of approximately $591 million as of March 31, 2024 [5]. - Additional uses include covering transaction costs, funding reserve accounts related to the securitized financing facility, and general corporate purposes, which may encompass share repurchases [5]. Group 3: Company Overview - Founded in 1992, Planet Fitness is one of the largest and fastest-growing fitness center franchisors and operators globally, with approximately 19.6 million members and 2,599 locations as of March 31, 2024 [6]. - The company's mission focuses on providing a high-quality fitness experience in a welcoming environment, termed the Judgement Free Zone® [6].

Key Takeaways Planet Fitness (PLNT) shares rose in intraday trading Monday following an upgrade from Jefferies, which was optimistic about new leadership and the potential gain in the number of franchises for the gym operator. The strategists explained that the company's long-term opportunity "is attractive and risk skews to the upside at current levels." Jefferies noted that the comments it received about new Chief Executive Officer (CEO) Colleen Keating, who took the helm today, were positive, and that "w ...