Skip to content
Tuesday, Jul 5, 2022
scieron scieron

Health know-how

July 4, 2022

This 30-Second Shower Trick Kills Toenail Fungus

June 30, 2022

Dema Meaning – What Does This Chinese Name Mean?

June 30, 2022

How to Optimize Your Website for ICO SEO

Primary Menu
  • Medical Treatment
  • Fitness Equipment
  • Medical Insurance
  • Medical Assistant
  • Medical Supplies
  • Healthy Live
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Planet Fitness Sees Same-Store Sales Climb 16 Percent In First Quarter
Fitness Equipment

Planet Fitness Sees Same-Store Sales Climb 16 Percent In First Quarter

May 15, 2022
Melody G. Gillette
Read Time : 8 Minutes


Planet Fitness, Inc. reported earnings tripled on a 67 percent revenue gain for its first quarter ended March 31. System-wide, same-store sales increased 15.9 percent, and the fitness chain ended the period with more than 16.2 million members, up from 14.1 million a year ago.

“Over the past two-plus years of operating during the pandemic, we’ve learned to be nimble and resilient while staying true to our mission of providing a high-quality, affordable fitness experience in a welcoming, non-intimidating environment. During the first quarter, we completed the acquisition of Sunshine Fitness, one of our best-performing franchisees as well as a successful refinancing of a portion of our debt. We are bullish on the future and believe that the acquisition strengthens our powerful business model by enhancing our corporate store team and diversifying the geographic profile of our corporate-owned stores, and the refinancing further supports our business model, by locking in low rates on a significant portion our debt,” said Chris Rondeau, chief executive officer. “We are looking forward to the upcoming launch of the High School Summer Pass that offers teens a chance to workout for free at our gyms over the summer—an extremely important initiative given the alarming teen mental health crisis in the U.S. Additionally, we are excited about our entry into new markets such as New Zealand and the opening of our first stores in Mexico under the new development agreement we signed last year.”

First Quarter Fiscal 2022 results

Related Posts:

  • Planet Fitness (PLNT) Q1 Earnings Top Estimates, Revenues Lag
  • Total revenue increased from the prior-year period by 66.9 percent to $186.7 million;
  • System-wide same-store sales increased 15.9 percent;
  • System-wide sales increased $196 million to $961 million, from $765 million in the prior-year period;
  • Net income attributable to Planet Fitness, Inc. was $16.5 million, or $0.19 per diluted share, compared to $5.6 million, or $0.07 per diluted share, in the prior-year period;
  • Net income increased $12.2 million to $18.4 million, compared to $6.2 million in the prior-year period;
  • Adjusted net income increased $20.0 million to $29.0 million, or $0.32 per diluted share, compared to $9.1 million, or $0.10 per diluted share, in the prior-year period;
  • Adjusted EBITDA increased $33.6 million to $77.3 million from $43.7 million in the prior-year period;
  • 37 new Planet Fitness stores opened during the period, bringing system-wide total stores to 2,291 as of March 31, 2022; and
  • Cash of $536.7 million, which includes cash and cash equivalents of $471.2 million and restricted cash of $65.5 million.

Operating Results for the First Quarter Ended March 31, 2022
For the first quarter of 2022, total revenue increased by $74.8 million, or 66.9 percent, to $186.7 million from $111.9 million in the prior-year period, which included system-wide same-store sales growth of 15.9 percent. 

By segment:

  • Franchise segment revenue increased by $16.0 million, or 25.0 percent, to $80.1 million from $64.1 million in the prior-year period. The increase in franchise segment revenue for the first quarter of 2022 was primarily due to a $9.9 million increase in franchise royalty revenue, a $2.4 million increase in National Advertising Fund (NAF) revenue, a $2.0 million increase in franchise and other fees, and a $1.5 million increase in placement revenue. Of the $9.9 million increase in royalty revenue, $5.7 million was primarily attributable to a same-store sales increase of 15.8 percent in franchisee-owned stores, $4.5 million was attributable to new stores opened since January 1, 2021 and stores that were not open for all of the prior-year period due to COVID-related temporary closures, and $1.2 million was from higher royalties on annual fees. Partially offsetting the royalty revenue increases was a decrease of approximately $1.6 million as a result of 114 franchisee-owned stores becoming corporate-owned stores as a result of the acquisition of Sunshine Fitness Growth Holdings, LLC in the first quarter of 2022 (“Sunshine Acquisition”);
  • Corporate-owned stores segment revenue increased by $38.3 million, or 101.1 percent, to $76.2 million from $37.9 million in the prior-year period. Of the increase, $28.7 million was attributable to the acquisition of 114 stores in the Sunshine Acquisition, $5.0 million was from new stores opened since January 1, 2021 and stores that were not open for all of the prior-year period due to COVID-related temporary closures and $4.6 million was from the corporate-owned store same-store sales increase of 17.0 percent; and
  • Equipment segment revenue increased $20.5 million, or 206.2 percent,t to $30.4 million from $9.9 million in the prior-year period, driven by higher equipment sales to new and existing franchisee-owned stores in the three months ended March 31, 2022 compared to the three months ended March 31, 2021. In the three months ended March 31, 2022, the company had equipment sales to 33 new franchisee-owned stores compared to 18 in the prior-year period.

For the first quarter of 2022, net income attributable to Planet Fitness, Inc. was $16.5 million, or $0.19 per diluted share, compared to $5.6 million, or $0.07 per diluted share, in the prior-year period. Net income was $18.4 million in the first quarter of 2022 compared to $6.2 million in the prior-year period. Adjusted net income increased $20.0 million to $29.0 million, or $0.32 per diluted share, from $9.1 million, or $0.10 per diluted share, in the prior-year period. Adjusted net income has been adjusted to reflect a normalized federal income tax rate of 26.2 percent and 26.6 percent for the current and prior-year period, respectively, and excludes certain non-cash and other items that we do not consider in the evaluation of ongoing operational performance (“Non-GAAP Financial Measures”).

Adjusted EBITDA, which is defined as net income before interest, taxes, depreciation and amortization, adjusted for the impact of certain non-cash and other items that it does not consider in the evaluation of ongoing operational performance (“Non-GAAP Financial Measures”), increased $33.6 million to $77.3 million from $43.7 million in the prior-year period.

Segment EBITDA represents its Total Segment EBITDA broken down by the company’s reportable segments. Total Segment EBITDA is equal to EBITDA, which is defined as net income before interest, taxes, depreciation and amortization (“Non-GAAP Financial Measures”).

  • Franchise segment EBITDA increased $18.9 million to $60.1 million. The increase in franchise segment EBITDA for the first quarter of 2022 was primarily due to the revenue increases described above. Additionally, the franchise selling general and administrative expense was $2.9 million lower than the prior-year period as a result of lower franchise selling general and administrative spend to support its franchisees compared to the prior year. Partially offsetting these EBITDA increases, NAF expense was $1.8 million higher in the three months ended March 31, 2022 than in the prior-year period;
  • Corporate-owned stores segment’s EBITDA increased $12.7 million to $23.4 million. The increase was primarily attributable to higher corporate-owned store four-wall EBITDA, partially offset by a higher corporate-owned store selling general and administrative expenses, both as a result of the Sunshine Acquisition; and
  • Equipment segment EBITDA increased by $6.8 million to $8.7 million driven by higher equipment sales to new and existing franchisee-owned stores in the three months ended March 31, 2022 compared to the three months ended March 31, 2021, as described above.

2022 Outlook
For the year ending December 31, 2022, the company is reiterating the following expectations as compared to the company’s 2021 results, which include the impact of the Sunshine Acquisition and assumes there is no significant worsening of the pandemic that seriously impacts performance, including prolonged store closures or other mandated operational restrictions:

  • New equipment placements of approximately 170 in franchisee-owned locations; and
  • System-wide same-store sales in the low double-digit percentage range.

The following are 2022 growth expectations over the company’s 2021 results:

  • 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; and
  • 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 Acquisition.

The company continues to expect 2022 net interest expense to be approximately $89 million as a result of its recent debt refinancing and upsizing.

Photo courtesy Planet Fitness



Source link

Tagged in : 24 Fitnes Laura Xxvi 24 Hiur Fitnes 24 Hour Fitnes 89134 24 Hour Fitnes Alamo 24 Hour Fitnes Florida 24 Hour Fitnes Stadium Amatuer Fitnes Girls On Pornhub Anytime Fitnes Phone # Blue Moon Fitnes Bokep Fitnes Jepang Buds Fitnes Progression Carinean Fitnes Center Club Access Fitnes Cornell Fitnes Classes Dan Cooper Nude Fitnes Dance Fitnes Names Dance Fitnes Satya Niketan Delta Colorado Fitnes Center Diy Industrial Pipe Fitnes Executive Fitnes Center Fitnes Center Bellingham Wa Fitnes Goal Pictures Fitnes Klub Fit Skopje Fitnes Vodnikova 155 Flat Stomach Planet Fitnes Florina Fitnes Patreo Fresno Stripper Pole Fitnes Haneen Rababa La Fitnes Harga Alat Fitnes Rumahan Hot Springs Health And Fitnes Instituto Fitnes En Florida Khloe Kardashian Fitnes La Fitnes Pearl Musel Fitnes Gilrs Porn Pics My Fitnes Pal Blog Nadia Garota Fitnes Naked Selfie Fitnes Girl Ortho Montana At Granite Fitnes Planet Fitnes Pizza Monday Presidents Fitnes Award Program Fitnes Menurunkan Berat Badan Roku Figure Fitnes Roller Blading Fitnes Smooth Fitnes 9.45 Treadmill Sq Foot Of Anytime Fitnes Tempe Life Time Fitnes Westside Strength And Fitnes Facebooks Whoop Fitnes Band Women Fitnes Boston Xsport Fitnes Niles

Related Articles

February 5, 2021

Gym owners still adjusting to shift in fitness industry created by the pandemic

February 3, 2021

7 Household Items That Are Fitness Equipment in Disguise

May 25, 2022

Q2 2022 Earnings Estimate for Planet Fitness, Inc. Issued By DA Davidson (NYSE:PLNT)

Post navigation

Previous Previous post: UB receives $550,000 grant to provide dental care to people who are homeless, uninsured in WNY – UB Now: News and views for UB faculty and staff
Next Next post: GB divers face international competition at Futures Cup | Diving News
July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    

Categories

  • Dental Clinic
  • Fitness Equipment
  • Healthy Live
  • Medical Assistant
  • Medical Insurance
  • Medical Supplies
  • Medical Treatment
  • sales

Archives

  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • March 2020
  • November 2018
  • October 2018
  • January 2017

Recent Posts

  • NY health insurers seek 19% rate hike – InsuranceNewsNet
  • Lindbrook Capital LLC Sells 1,163 Shares of Planet Fitness, Inc. (NYSE:PLNT)
  • As state expands access to care, Maine’s dental school to train more students
  • Brewers host free dental clinic for hundreds of kids in Milwaukee
  • This 30-Second Shower Trick Kills Toenail Fungus

Tags

6 Day Workout Tiget Fitness 24 Hour Fitness Hr Email 24hr Fitness 1 Day Pass Aparelhos Life Fitness Bishkek Kyrgyzstan Fitness Competition 2016 Business Daily Fitness For Duty Test Dan Hannum Fitness Healthy Fitness Advertisements Healthy Fitness Zon For Mile How To Workout Planet Fitness Julia Body Faction Fitness Club Melissa La Fitness Body Combat Military Fitness Testing Miss Universe Fitness Model Montvale Training Fitness Moon Now Fitness Tracker Morepro X Core Fitness Tracker Orangetheory Fitness Nick Peak Fitness Davidson Nc Pearl Barley Fitness Physical Fitness Meribadge Class Diadactic Planet Fitness Beebe Planet Fitness Commercial Rich Piana Planet Fitness Courtland Avenue Planet Fitness Hickory Hills Il Planet Fitness In Williamsport Pa Planet Fitness Jackson Reviews Planet Fitness Mchenry Opening Date Planet Fitness Near 85044 Planet Fitness Pacific Highway Planet Fitness Pomona Grand Opening Planet Fitness Shreveport Locations Planet Fitness Stock Opffering Plantet Fitness Didnt Pay Prenatal Fitness Chicago Sascha Fitness Feet Scalar And Vector Fitness Scc Fitness Classes Scottsdale Personal Fitness Training Set Greutati Fitness Tactical Fitness For Beginners Tribe Fitness Resistance Bands Exercises Walmart Electronics Fitness Trackers Display Zumba Fitness World Party Puttin

 

F/20/5'3 [175 > 133lb< 145lb = -50lb + 12lb] (+ 3yrs) didn't realize how  much body my changed until recently. I'm so proud of how far I've come. :  progresspics

Let you quickly restore a slim figure

bayar.ooo

Visit Now

dell business laptops
Intellifluence Trusted Blogger

BL

TL

scieron.com All rights reserved Theme: News Base by Themematic
Sunday May 15, 2022
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT