11/7/2024

speaker
Operator
Call Operator

After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, again, press the star and one. I would now like to turn the call over to Stacey Caravella, Vice President of Investor Relations. You may begin.

speaker
Stacey Caravella
Vice President of Investor Relations

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. Also joining us is Jay Stas, our newly appointed CFO, effective on November 15th. They will all 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.

speaker
Colleen Keating
Chief Executive Officer

Thank you, Stacy, and thank you everyone for joining us for the Planet Fitness Q3 earnings call. I'm thrilled to be here speaking with you this morning to talk about our quarterly results and the strength of our business. During the third quarter, we grew same club sales by 4.3%, delivered 5.3% revenue growth, and increased adjusted EBITDA by 10%. We ended the quarter with approximately 19.6 million members. I'm proud of our performance and of the important work our team has done to execute on our near-term focus areas while laying the foundation for our longer-term ambitions. We also announced last week that we appointed Jay Stas as Chief Financial Officer effective November 15th. Jay joined us on Monday and is working with Tom to ensure a smooth transition. Tom will be staying with us through the end of December and will remain as a consultant until the end of the first quarter. Jay brings more than 25 years of experience developing high performing collaborative finance teams and supporting meaningful growth and value creation. I'm eager to work closely with Jay to support our team members and franchisees as we provide high quality and accessible fitness experiences for our members, and to ultimately increase value for shareholders. Before I address our Q3 performance, I'd like to give Jay a chance to introduce himself. Jay?

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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