Planet Fitness, Inc. PLNT, one of the largest and fastest-growing franchisors and operators of fitness centers, revealed key operational metrics for 2024-end. Following this announcement, shares of PLTN gained 0.1% during the trading session and 3.1% in after-hours trading yesterday.
The company plans to release its full fiscal year results and provide a 2025 outlook on Feb. 25, 2025.
PLNT’s 2024 Performance Highlights & Strategic Initiatives
The company reported solid results for 2024, meeting growth objectives set at the start of the year. As of Dec. 31, 2024, the company increased its membership base to approximately 19.7 million, with system-wide same-club sales growing 5% year over year. The company placed equipment in 124 new franchised locations during the year. It also opened 150 new clubs, including 21 corporate-owned locations, bringing the total number of clubs to 2,722.
The company also focused on key initiatives, such as introducing a new economic model for club operations and refinancing a portion of its debt. PLNT initiated a share repurchase program, raised the Classic Card membership price for the first time in 25 years, and implemented an updated brand strategy as part of its year-end marketing campaign.
PLNT Leadership Appointments & 2025 Plans
The company continued its momentum by strengthening PLNT’s leadership team with the appointment of Chip Ohlsson as chief development officer and Brian Povinelli as chief marketing officer. Both executives bring extensive experience in leading consumer-facing brands and have a proven track record of collaborating with franchisees to drive growth.
Planet Fitness is focused on executing its strategic objectives as the company moves into 2025. These priorities include redefining the brand, improving the member experience, refining the product offering and increasing the pace of club openings. The company aims to enhance value for all stakeholders, including franchisors, franchisees and members, while driving increased returns for its shareholders by achieving these goals.
PLNT Stock’s Price Performance
Image Source: Zacks Investment Research
Shares of Planet Fitness have gained 38.3% in the past year compared with the Zacks Leisure and Recreation Services industry’s rise of 18.2%. The company has been benefiting from the effective implementation of its new low-cost business model, favorable pricing initiatives across PLNT’s different membership plans and global expansion efforts.
PLNT’s Zacks Rank & Other Key Picks
Planet Fitness currently has a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the Zacks Consumer Discretionary sector are:
Norwegian Cruise Line Holdings Ltd. NCLH currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
NCLH delivered a trailing four-quarter earnings surprise of 4.2%, on average. The stock has surged 53% in the past year. The Zacks Consensus Estimate for NCLH’s 2025 sales and earnings per share (EPS) indicates growth of 8.4% and 25.7%, respectively, from the year-ago levels.
Carnival Corporation & plc CCL currently carries a Zacks Rank #2. CCL delivered a trailing four-quarter earnings surprise of 326.4%, on average. The stock has surged 40.9% in the past year.
The Zacks Consensus Estimate for CCL’s fiscal 2025 sales and EPS indicates growth of 4.1% and 24.7%, respectively, from the year-ago levels.
Royal Caribbean Cruises Ltd. RCL currently carries a Zacks Rank #2. RCL delivered a trailing four-quarter earnings surprise of 16.2%, on average. The stock has surged 87.5% in the past year.
The Zacks Consensus Estimate for RCL’s 2025 sales and EPS indicates growth of 9.5% and 23.8%, respectively, from the year-ago levels.
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