By Sabela Ojea
Planet Fitness Inc. said Tuesday that it expects to achieve revenue growth in the next three years as it draws a plan to increase its international presence and double its membership base.
The operator of fitness franchises is targeting annual revenue percentage growth in low to mid-teens by 2025.
The company also expects to achieve low-to-mid 20% growth in annual adjusted earnings per share by 2025, saying the higher end of the range would be achieved through share buyback programs.
Last week, Planet Fitness said its board of directors authorized a new $500 million share repurchase program
“We are operating from a position of solid financial and balance sheet strength, with tailwinds that support market penetration and strengthen our growth trajectory,” Finance Chief Tom Fitzgerald said.
Write to Sabela Ojea at email@example.com; @sabelaojeaguix