Here are the specific viewpoints from earnings call
Bullish Points:
1. Ended the first quarter with approximately 19.6 million members and same-store sales growth of 6.2%.
2. Nearly 18% adjusted EBITDA growth.
3. Opened 25 new units, ending the quarter with 2,599 Planet Fitness locations globally.
4. Consideration of Planet Fitness is trending upwards and is the highest it's been in years.
5. Classic Card price increase to $15 is expected to significantly increase average unit volumes with minimal impact on join rates.
6. Announcement of a new CEO, Colleen Keating, who brings over three decades of experience.
7. Ahead of schedule to reduce new unit and remodel build costs by at least 10% before the end of the year.
8. Total revenue for the first quarter was $248.0 million, up from $222.2 million the previous year.
9. Franchise segment revenue increased by 12.2%.
10. Corporate store adjusted EBITDA margin was 34.6%.
Bearish Points:
1. Net new members in the first quarter were below expectations.
2. National media headlines about rising cases of COVID and other respiratory infections may have made people hesitant to join gyms.
3. Double-digit decreases in website traffic.
4. Effectiveness of advertising campaign was lower than anticipated due to lack of resonating messaging.
5. An incident regarding nondiscrimination policy may have contributed to softness in joins and some increase in cancels.
6. Updating 2024 guidance targets due to the headwinds faced in Q1.
7. Equipment segment revenue decreased by 8.6% due to fewer new store placements.
8. Providing wider ranges for targets due to current choppy environment.
9. Shift to more strength equipment versus cardio will bring down overall sales on a per-store basis.
10. Systemwide same-store sales growth projections reduced from 5-6% to 3-5%.
For more information about Planet Fitness(PLNT)'s earnings call, you can read the relevant news: Planet Fitness (PLNT) Q1 2024 Earnings Call Transcript.
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