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Dec 31, 2021
Planet Fitness Q4 2021 Earnings Report
Planet Fitness reported strong Q4 2021 results, exceeding expectations for membership and new store growth.
Key Takeaways
Planet Fitness, Inc. reported a 37.3% increase in total revenue to $183.6 million for the fourth quarter ended December 31, 2021. System-wide same-store sales increased by 12.3%. The company ended the year with 15.2 million members and opened 62 new stores during the quarter.
Total revenue increased by 37.3% to $183.6 million.
System-wide same store sales increased 12.3%.
Adjusted EBITDA increased 23.3% to $63.0 million.
62 new Planet Fitness stores were opened system-wide.
Revenue by Segment
Forward Guidance
For the year ending December 31, 2022, the Company expects revenue to increase in the mid-50 percent range and adjusted EBITDA to increase in the high-50 percent range.
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 $89 million as a result of its recent debt refinancing and upsizing
- Adjusted earnings per share to increase in the mid-80 percent range, based on Adjusted diluted shares outstanding of approximately 91.1 million, inclusive of the issuance of equity as part of the Sunshine Fitness acquisition
Historical Earnings Impact
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Avg. Return Before/After Earnings
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