Planet Fitness (PLNT) Tops Q2 EPS by 5c ; Provides Outlook

Planet Fitness (NYSE: PLNT) reported Q2 EPS of $0.71, $0.05 better than the analyst estimate of $0.66. Revenue for the quarter came in at $300.9 million versus the consensus estimate of $290.18 million.

2024 Outlook

For the year ending December 31, 2024, the Company is reiterating the following expectations:

New equipment placements of approximately 120 to 130 in franchisee-owned locations
System-wide new store openings of approximately 140 to 150 locations

The Company is also reiterating the following growth expectations over its 2023 results:

System-wide same store sales in the 3% to 5% percentage range
Revenue to increase in the 4% to 6% range
Adjusted EBITDA to increase in the 7% to 9% range
Adjusted net income to increase in the 4% to 6% range
Adjusted net income per share, diluted to increase in the 7% to 9% range, based on adjusted diluted weighted-average shares outstanding of approximately 86.5 million, inclusive of the shares expected to be repurchased as part of the ASR Agreement.

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

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