Planet Fitness (NYSE: PLNT) reported Q2 EPS of $0.65, $0.10 better than the analyst estimate of $0.55. Revenue for the quarter came in at $285.5 million versus the consensus estimate of $252.31 million.

GUIDANCE:

For the year ending December 31, 2023, the Company is updating or reiterating the following expectations as compared to the Company\'s 2022 results, which assumes there are no material new supply chain disruptions:

• It now expects new equipment placements of approximately 140 in franchisee-owned locations (previously it expected approximately 160)
• It now expects system-wide new store openings of approximately 160 locations
• It continues to expect system-wide same store sales in the high single-digit percentage range

The following are 2023 growth expectations over the Company\'s 2022 results:

• It now expects revenue to increase approximately 12% (previously it expected 13% to 14% growth)
• It now expects Adjusted EBITDA to increase approximately 17% (previously it expected 17% to 18% growth)
• It now expects Adjusted net income to increase approximately 30% (previously it expected 30% to 33% growth)
• It now expects Adjusted earnings per share to increase approximately 34% (previously it expected 33% to 36% growth), based on Adjusted diluted shares outstanding of approximately 89 million, inclusive of the nearly 1.7 million shares repurchased through June 30, 2023.

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