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Jun 30, 2022
Planet Fitness Q2 2022 Earnings Report
Planet Fitness reported strong Q2 2022 results driven by membership growth and increased revenue across all segments.
Key Takeaways
Planet Fitness, Inc. announced its second quarter 2022 financial results, highlighted by a 63.5% increase in total revenue to $224.4 million compared to the prior year period. System-wide same store sales increased by 13.6%, and the company ended the quarter with over 16.5 million members. Net income attributable to Planet Fitness, Inc. was $22.3 million, or $0.26 per diluted share.
Total revenue increased by 63.5% to $224.4 million.
System-wide same store sales increased by 13.6%.
Net income attributable to Planet Fitness, Inc. was $22.3 million, or $0.26 per diluted share.
The company ended the quarter with more than 16.5 million members.
Revenue by Segment
Forward Guidance
For the year ending December 31, 2022, the Company is reiterating the following expectations as compared to the Company’s 2021 results, which includes the impact from the Sunshine Acquisition and assumes there is no significant worsening of the COVID-19 pandemic that seriously impacts performance, including prolonged store closures or other mandated operational restrictions
Positive Outlook
- New equipment placements of approximately 170 in franchisee-owned locations
- System-wide same store sales in the low double-digit percentage range
- Revenue to increase in the mid-50 percent range
- Adjusted EBITDA to increase in the high-50 percent range
- Adjusted Net Income to increase in the low-90 percent range
Challenges Ahead
- Assumes there is no significant worsening of the COVID-19 pandemic that seriously impacts performance, including prolonged store closures or other mandated operational restrictions
- 2022 net interest expense to be approximately $86 million as a result of its recent debt refinancing and upsizing.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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