Planet Fitness, Inc. (NYSE:PLNT) Q2 2024 Earnings Conference Call August 6, 2024 8:00 AM ET

Company Participants

Stacey Caravella - Vice President of Investor Relations
Colleen Keating - Chief Executive Officer
Thomas Fitzgerald - Chief Financial Officer

Conference Call Participants

Randy Konik - Jefferies
Simeon Siegel - BMO Capital Markets
Sharon Zackfia - William Blair
Jonathan Komp - Baird
Joseph Altobello - Raymond James
Christopher O'Cull - Stifel Financial Group
Rahul Krotthapalli - JPMorgan
Maksim Rakhlenko - TD Cowen

Operator

Hello and thank you for standing by. This time I would like to welcome you to the Planet Fitness Q2 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Stacey Caravella. Please go ahead.

Stacey Caravella

Thank you, operator and good morning, everyone. Speaking on today's call will be Planet Fitness Chief Executive Officer, Colleen Keating; and Chief Financial Officer, Tom Fitzgerald. Both will be available for questions during the Q&A session following the prepared remarks.

Today's call is being webcast live and recorded for replay. Before I turn the call over to Colleen, I'd like to remind everyone that the language on forward-looking statements included in our earnings release also applies to our comments made during the call. Our release can be found on our investor website along with any reconciliation of non-GAAP financial measures mentioned on the call with their corresponding GAAP measures.

Now, I will turn the call over to Colleen.

Colleen Keating

Thank you, Stacey and thank you, everyone, for joining us for the Planet Fitness Q2 Earnings Call. I'm thrilled to be here speaking with you. During the second quarter, we eclipsed the 2,600 store mark, grew same-store sales by 4.2%, delivered 5.1% revenue growth and increased adjusted EBITDA by 7.2%.

As I consider the opportunity to join Planet Fitness, I was drawn to 2 things. First, growing businesses is one of my passions. I believe I could not only contribute to the tremendous potential of our next chapter but that I could have a real impact on it. With 30-plus years of experience in franchise businesses, real estate, operations and marketing, I've led high-growth consumer businesses at scale. I believe that I have a unique perspective on our growth opportunities and the actions we need to take to capitalize on them. And second was the franchise model and the opportunity to continue to work with franchisees. Throughout my career, I've worked extensively in franchise businesses within the hospitality industry. There are many similarities between hospitality and fitness. Foundationally, both are focused on bringing an experience to life for guests or members and that they leave feeling better than when they came.