Planet Fitness Q1 2024 Earnings Report

For the year ending December 31, 2024, the Company is updating or reiterating the following expectations: •It continues to expect new equipment placements of approximately 120 to 130 in franchisee-owned locations •It continues to expect system-wide new store openings of approximately 140 to 150 locations •It now expects system-wide same store sales in the 3% to 5% percentage range (previously it expected 5% to 6%) The following are 2024 growth expectations over the Company’s 2023 results: •It now expects revenue to increase in the 4% to 6% range (previously it expected 6% to 7%) •It now expects adjusted EBITDA to increase in the 7% to 9% range (previously it expected 10% to 11%) •It now expects adjusted net income to increase in the 6% to 8% range (previously it expected 9% to 10%) •It now expects adjusted net income per share, diluted to increase in the 7% to 9% range (previously it expected 10% to 11%), based on adjusted diluted weighted-average shares outstanding of approximately 88.0 million, inclusive of one million shares repurchased in 2024. The Company continues to expect 2024 net interest expense to be approximately $70.0 million. It also expects capital expenditures to increase approximately 25% driven by additional stores in our corporate-owned portfolio and depreciation and amortization to increase in the 11% to 12% range.