Planet Fitness Q4 2024 Earnings Report
Key Takeaways
Planet Fitness delivered solid fourth-quarter results, with revenue growing 19.4% year-over-year to $340.5 million. Net income increased to $47.1 million, while adjusted net income rose to $59.7 million. The company expanded its footprint with 86 new club openings, bringing total locations to 2,722. Equipment segment revenue saw the highest growth at 49.2%, reflecting strong demand for fitness upgrades.
Total revenue increased 19.4% to $340.5 million, driven by franchise and equipment sales growth.
Net income attributable to Planet Fitness rose to $47.1 million, or $0.56 per diluted share.
Adjusted EBITDA grew 14.4% to $130.8 million, highlighting operational efficiency.
86 new clubs opened in Q4, contributing to a total of 2,722 locations worldwide.
Planet Fitness Revenue
Planet Fitness EPS
Planet Fitness Revenue by Segment
Planet Fitness Revenue by Geographic Location
Forward Guidance
Planet Fitness expects continued growth in 2025, with projected revenue increasing by 10% and system-wide same-club sales growing 5-6%.
Positive Outlook
- Revenue expected to grow by approximately 10% in FY 2025.
- System-wide same-club sales projected to increase 5-6%.
- Adjusted EBITDA anticipated to rise by 10%.
- 160-170 new club openings planned for the year.
- Expansion in high-margin equipment sales supporting profitability.
Challenges Ahead
- Higher capital expenditures expected to increase by 25%.
- Net interest expense projected at approximately $86 million.
- Potential macroeconomic headwinds may impact discretionary spending.
- Increased operational costs from corporate-owned club expansion.
- Competitive pressure in the fitness industry remains a challenge.