Planet Fitness (NYSE: PLNT) reported Q4 EPS of $0.44, $0.03 better than the analyst estimate of $0.41. Revenue for the quarter came in at $191.5 million versus the consensus estimate of $189.62 million.

Fourth Quarter Fiscal 2019 Highlights

• Total revenue increased from the prior year period by 9.8% to $191.5 million.
• System-wide same store sales increased 8.6%.
• Net income attributable to Planet Fitness, Inc. was $29.7 million, or $0.36 per diluted share, compared to net income attributable to Planet Fitness, Inc. of $24.8 million, or $0.29 per diluted share, in the prior year period.
• Net income was $34.3 million, compared to net income of $28.8 million in the prior year period.
• Adjusted net income(1) increased 20.6% to $39.2 million, or $0.44 per diluted share, compared to $32.5 million, or $0.34 per diluted share, in the prior year period.
• Adjusted EBITDA(1) increased 23.0% to $76.6 million from $62.3 million in the prior year period.
• 102 new Planet Fitness stores were opened system-wide during the period, bringing system-wide total stores to 2,001 as of December 31, 2019.

"2019 was filled with many important milestones and financial achievements," said Chris Rondeau, Chief Executive Officer. "We opened a company record 261 new stores system-wide and ended the year with 2,001 Planet Fitness locations and approximately 14.4 million members. Our ability to attract casual, first time gym users to our welcoming, non-intimidating fitness concept, combined with higher black card pricing, fueled an 8.8% improvement in system-wide same store sales on top of a 10.2% increase in 2018. Revenue in all three of our operating segments - Franchise, Corporate-Owned Stores and Equipment - grew double-digits in 2019, with Franchise, our highest margin segment, growing the fastest, which along with the repurchase of 6.1 million shares, helped drive a 30% increase in Adjusted net income per share, diluted(1) year-over-year. We begin 2020 with great momentum in our business, a long runway for growth, and an experienced group of franchisees eager to capitalize on the many opportunities that still lie ahead."

2020 Outlook

For the year ending December 31, 2020, the Company expects:

• Total revenue increase of approximately 12% as compared to the year ended December 31, 2019;
• System-wide same store sales of approximately 8%;
• Adjusted net income to increase approximately 10% as compared to the year ended December 31, 2019; and
• Adjusted net income per diluted share to increase approximately 16% as compared to the year ended December 31, 2019.

For earnings history and earnings-related data on Planet Fitness (PLNT) click here.