Planet Fitness Q1 revenue up 11.6% to $248M, but lowers FY2024 outlook; appoints new CEO

Planet Fitness, Inc.

Q1 revenue $248.0M (+11.6% YoY); GAAP diluted EPS $0.39, adjusted diluted EPS $0.53.
System-wide same-store sales +6.2%; total members ~19.6M; 25 new stores opened in Q1.
Full-year 2024 outlook lowered due to consumer savings shift, illness headwinds, and ad campaign underperformance.
Repurchased 313,834 shares for $20.0M in Q1; cash and marketable securities $486.4M.
Colleen Keating to become CEO in June, replacing interim CEO Craig Benson.

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