Planet Fitness has reported a revenue rise of 5.3 per cent for its third quarter ending 30 September; revenue increased to US$292.2m.
System-wide sales rose from US$1.1bn in the prior year period to US$1.2bn, and same-store-sales (now called club sales) lifted 4.3 per cent
The gym chain opened 21 new clubs during the quarter, nine of these corporate and 12 franchisee-owned. Planet Fitness now has a footprint of 2,637 gyms.
Franchise segment revenue rose from US$98.2m in the previous corresponding period to US$102.4m.
Planet Fitness CEO Colleen Keating said “We delivered solid results in the quarter, including more than 5 per cent revenue growth, approximately 3 per cent net income growth and approximately 10 per cent adjusted EBITDA growth, and are raising our outlook for certain key financial targets.
“We also achieved a significant milestone by raising the price of our Classic Card membership to $15 for new members, marking the first increase in over 25 years, underscoring the tremendous value that we continue to offer our members,” Keating said.
For the year ending 31 December 2024, Planet Fitness expects to open between 140 and 150 clubs and new equipment placements of approximately 120 to 130 in franchisee-owned locations.
It predicts a revenue increase of 8-9 per cent, and a boost to same club sales of 4-5 per cent.
