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Planet Fitness 2018 financials Photo courtesy Planet Fitness.
Planet Fitness added 230 locations in 2018, 98 of which opened in the fourth quarter. The company claimed 1,742 health clubs as of Dec. 31, 2018.

Planet Fitness Opens 230 New Clubs, Reports 33 Percent Growth in 2018 Revenue

Planet Fitness reported its 48th consecutive quarter of positive system-wide same-store sales growth in 2018. The opening of 230 clubs in 2018 drove increases of more than 30 percent in the company's quarterly and year-end sales.

Planet Fitness, Hampton, New Hampshire, reported fourth quarter revenue of $174.4 million, a 30.1 percent increase from the same period last year, according to financials released by the company on Feb. 25. This fueled a 33.3 percent increase in total 2018 revenue to $572.9 million.

The company reported its same-store sales grew 10.1 percent during the quarter and 10.2 percent for the year. In total, Planet Fitness added 230 locations in 2018, 98 of which opened in the fourth quarter. As of Dec. 31, 2018, the company claimed 1,742 clubs globally.

Te fourth quarter of 2018 marks 48 consecutive quarters of positive system-wide same-store sales growth for Planet Fitness, CEO Chris Rondeau said in the earnings report.

“From our group of experienced franchisees who are eager to expand their footprints to increasingly favorable real estate trends, our growing national and local advertising budgets and our initiatives aimed at enhancing the member experience, we believe there are tremendous opportunities to build on our recent accomplishments,” Rondeau said. “I am confident that we have the right franchisees in place to more than double our U.S. presence and attract more casual and first-time gym users to our welcoming, non-intimidating fitness offering, and do it in a manner that generates increased value for our shareholders over the long-term."

Quarterly franchise segment revenue grew 41.4 percent to $56.6 million, corporate segment revenue increased 28.4 percent to $36.2 million and equipment segment revenue increased 24 percent to $81.6 million.

Planet Fitness’ adjusted EBITDA increased 20.8 percent to $223.2 million in 2018.

In January, Planet Fitness ranked No. 7 on Entrepreneur's 2019 Franchise 500 list, analyzing franchisors based on size and growth, brand strength, and financial strength and stability.

Planet Fitness ranked sixth on Club Industry's Top 100 Health Clubs of 2018. The company is the highest-ranking franchisor on the list.

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