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Planet Fitness, Inc. (NYSE:PLNT), a franchisor and operator of fitness centers with a market capitalization of $7.91 billion and impressive gross margins of nearly 60%, announced several key updates following its annual meeting of stockholders on May 6, 2025. According to InvestingPro data, the company, headquartered in Hampton, New Hampshire, has maintained strong revenue growth of 10.26% over the last twelve months. The company filed an 8-K with the Securities and Exchange Commission detailing the outcomes of the meeting.
At the annual meeting, stockholders voted in favor of the Planet Fitness, Inc. 2025 Omnibus Incentive Plan, which aims to provide flexible and competitive incentive compensation to attract, retain, and motivate employees, directors, and consultants. The plan was thoroughly described in the definitive proxy statement filed on March 28, 2025.
Additionally, amendments to the company’s Second Restated Certificate of Incorporation were approved. These amendments include the removal of supermajority voting requirements, deletion of certain obsolete provisions, and limitation of liability for certain officers. The Restated Charter containing these changes was filed with the Secretary of State of Delaware on May 8, 2025, and became effective immediately.
The election of directors was another significant matter addressed at the meeting. Three nominees were elected to serve as directors, each for a three-year term. The stockholders also ratified the appointment of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025.
A non-binding advisory vote indicated stockholder approval of the compensation of the company’s named executive officers. However, a stockholder proposal regarding the adoption of an EEO-1 report disclosure policy did not receive approval.
These actions reflect Planet Fitness’s ongoing efforts to align its corporate governance with stockholder interests and current best practices. The company’s SEC filing on May 12, 2025, provides further details on the results of the meeting and the full text of the Restated Charter and Omnibus Incentive Plan. Trading near its Fair Value according to InvestingPro analysis, Planet Fitness shows strong financial health with multiple positive indicators. Discover 10+ additional exclusive ProTips and comprehensive financial analysis in the Pro Research Report, available to InvestingPro subscribers.
In other recent news, Planet Fitness has reported its first-quarter 2025 earnings, revealing a revenue of $276.7 million, marking an 11.5% increase year-over-year. However, the company missed its earnings per share (EPS) forecast, reporting an EPS of $0.59 compared to the expected $0.62. Despite this, Planet Fitness continues to expand, opening 19 new clubs globally and bringing the total club count to 2,741. Analyst Max Rakhlenko from TD Cowen maintained a Buy rating on the stock, with a price target of $125, citing strong membership growth and a Black Card membership mix reaching 65%. Rakhlenko also noted that the company’s first-quarter member growth exceeded expectations, despite a 50% price increase for the Classic Card. The analyst expressed confidence in Planet Fitness’s ability to navigate economic pressures and suggested potential for the company to surpass its full-year guidance. Additionally, the company anticipates opening 160 to 170 new clubs in 2025, projecting revenue growth of approximately 10% and adjusted EBITDA growth of around 10%.
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