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Planet Fitness (PLNT) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates (Revised)
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For the quarter ended June 2023, Planet Fitness (PLNT - Free Report) reported revenue of $286.46 million, up 27.6% over the same period last year. EPS came in at $0.65, compared to $0.38 in the year-ago quarter.
The reported revenue represents a surprise of +15.00% over the Zacks Consensus Estimate of $249.1 million. With the consensus EPS estimate being $0.54, the EPS surprise was +20.37%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Planet Fitness performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Same-store sales: 8.7% compared to the 8.87% average estimate based on seven analysts.
Total Stores - End of period: 2472 versus 2478.86 estimated by seven analysts on average.
Corporate-owned same store sales: 12.1% versus the five-analyst average estimate of 9.53%.
Franchisee-owned same store sales: 8.6% versus 8.93% estimated by five analysts on average.
Total Stores - New stores opened: 26 versus the four-analyst average estimate of 34.5.
Franchisee-owned stores - New stores opened: 23 compared to the 30.25 average estimate based on four analysts.
Corporate-owned stores - New stores opened: 3 versus the three-analyst average estimate of 4.
Revenue- National advertising fund: $18 million versus the seven-analyst average estimate of $17.13 million. The reported number represents a year-over-year change of +23.4%.
Revenue- Franchise: $80.85 million versus $78.55 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +19% change.
Revenue- Equipment segment: $73.86 million versus the seven-analyst average estimate of $41.25 million. The reported number represents a year-over-year change of +82.6%.
Revenue- Corporate-owned stores segment: $113.76 million compared to the $113.97 million average estimate based on seven analysts. The reported number represents a change of +12.1% year over year.
Revenue- Franchise segment: $98.80 million versus $101.93 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +19.8% change.
Shares of Planet Fitness have returned +0.4% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
(We are reissuing this article to correct a mistake. The original article, issued on August 3, 2023, should no longer be relied upon.)
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Planet Fitness (PLNT) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates (Revised)
For the quarter ended June 2023, Planet Fitness (PLNT - Free Report) reported revenue of $286.46 million, up 27.6% over the same period last year. EPS came in at $0.65, compared to $0.38 in the year-ago quarter.
The reported revenue represents a surprise of +15.00% over the Zacks Consensus Estimate of $249.1 million. With the consensus EPS estimate being $0.54, the EPS surprise was +20.37%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Planet Fitness performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for Planet Fitness here>>>
Shares of Planet Fitness have returned +0.4% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
(We are reissuing this article to correct a mistake. The original article, issued on August 3, 2023, should no longer be relied upon.)