Planet Fitness Inc
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Consumer Discretionary : Hotels, Restaurants & Leisure | Small Cap Growth
Company profile

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 and Canada. The Equipment segment primarily includes the sale of equipment to franchisee-owned stores in the United States, Canada and Mexico. Its subsidiaries operate three lines of business, which include licensing and selling franchises, owning and operating fitness centers, and selling fitness-related equipment to franchisee-owned stores. The Company has approximately 2,446 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia.

Day's Change
-0.13 (-0.28%)
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Today's volume of 816,308 shares is on pace to be much lighter than PLNT's 10-day average volume of 3,763,461 shares.


Planet Fitness misses profit and revenue expectations, but provides in-line full-year outlook

6:49 am ET May 4, 2023 (MarketWatch)

Planet Fitness Inc. (PLNT) reported Thursday first-quarter profit and revenue that rose less than expected, but provided an in-line full-year growth outlook, with "all generational groups back to pre-pandemic population penetration levels." The fitness center operator's stock was still inactive in premarket trading. Net income increased to $22.7 million, or 27 cents a share, from $16.5 million, or 19 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 41 cents missed the FactSet consensus of 46 cents. Revenue grew 19.0% to $222.23 million, but was below the FactSet consensus of $238.3 million. "Our business continues to rebound from the impact of COVID-19 shutdowns with more than 50 percent of our U.S. stores opened prior to 2019 back to or above pre-pandemic membership levels, with member growth driving our 9.9 percent increase in system-wide same stores sales," said Chief Executive Officer Chris Rondeau. Same-store sales beat expectations of a 9.5% rise. For 2023, the company expects adjusted EPS growth of 33% to 36%, while the FactSet EPS consensus of $2.21 implies 34.8% growth. The company also expects 2023 revenue to rise 13% to 14%, while the FactSet revenue consensus of $1.07 billion implies 13.8% growth. The stock has gained 3.5% year to date, while the S&P 500 has tacked on 6.5%.

-Tomi Kilgore

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

May 04, 2023 06:49 ET (10:49 GMT)

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