PLNT - Planet Fitness Inc. (PLNT) Q4 2023 Earnings Call Transcript

2024-02-22 12:08:03 ET

Planet Fitness, Inc. (PLNT)

Q4 2023 Earnings Conference Call

February 22, 2024 8:00 AM ET

Company Participants

Stacey Caravella – Vice President-Investor Relations

Craig Benson – Interim Chief Executive Officer

Tom Fitzgerald – Chief Financial Officer

Conference Call Participants

Simeon Siegel – BMO Capital Markets

Megan Alexander – Morgan Stanley

John Heinbockel – Guggenheim

Jonathan Komp – Baird

Max Rakhlenko – TD Cowen

Rahul Krotthapalli – JPMorgan

Joe Altobello – Raymond James

Sharon Zackfia – William Blair

Alex Perry – Bank of America

Presentation

Operator

Good morning, and welcome to the Planet Fitness Q4 2023 Earnings Conference Call. Please note that today's call is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

I will now turn the call over to Stacey Caravella, VP Investor Relations. You may begin your conference.

Stacey Caravella

Thank you, operator, and good morning, everyone. Speaking on today's call will be Interim Planet Fitness Chief Executive Officer, Craig Benson; and Chief Financial Officer, Tom Fitzgerald. Both will 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 Craig, 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 this 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'll turn the call over to Craig.

Craig Benson

Thank you, Stacey, and thank you, everyone, for joining us for the Planet Fitness Q4 earnings call. Before I review our fourth quarter results, I want to take a moment to discuss the announcement we made today that Tom Fitzgerald, our CFO, has decided to retire at the end of August 2024. Since joining Planet Fitness four years ago, Tom has been a tremendous asset to our team, bringing 40 years of corporate finance and executive leadership experience to the business.

Now I'm going to turn it over to Tom to discuss his decision.

Tom Fitzgerald

Thanks, Craig. It's been a privilege to serve as CFO of Planet Fitness and work alongside such a dedicated and passionate team. I really can't think of a better way to end my career than working for a brand that does so well and also does so much good. After 40 years in business, I've made a decision to retire at the end of August 2024 and focus on some of my interest outside of work. I look forward to handing over the reins to new leadership that will guide Planet Fitness' next chapter. I am proud of the work we have done during my time at Planet Fitness to deliver value to our franchisees and our shareholders. I know that we have a lot more work to do. And over the next several months, I will be focused as I always have on our key strategic and financial objectives and on ensuring a smooth transition to new leadership....

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