Planet Fitness, Inc. announces an Equity Buyback for $500 million worth of its shares.
Published on 2024-06-13 at 06:49
Share
Planet Fitness, Inc. (NYSE:PLNT) announces a share repurchase program. Under the program, the company will repurchase up to $500 million worth of its shares. The repurchase program is contingent upon, and effective at the completion of the ASR agreement, to replace the existing 2022 share repurchase program.
Planet Fitness, Inc. is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise, Corporate-owned stores, and Equipment. The Franchise segment includes operations related to its franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia. The Corporate-owned stores segment includes operations with respect to all corporate-owned stores throughout the United States, Canada and Spain. The Equipment segment primarily includes the sale of equipment to franchisee-owned stores in the United States, Canada, and Mexico. The Company's subsidiaries operate three lines of business, which include licensing and selling franchises under the Planet Fitness trade name, owning, and operating fitness centers, and selling fitness-related equipment to franchisee-owned stores. The Company has approximately 2,617 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico, and Australia.
