Planet Fitness, Inc. (PLNT - Free Report) just released its latest quarterly financial results, posting adjusted earnings of $0.27 per share and revenues of $121.3 million.
Currently, Planet Fitness is a Zacks Rank #3 (Hold), but that could change based on today’s results. Shares of the company have gained 7.9% in the past month, encompassing a slight loss of 1.7% on the day.
The stock is currently down 3.4%% to $39.26 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted adjusted earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.26. Investors should note that this consensus projection has trended upward over the duration of the quarter.
Beat revenue estimates. The company saw revenue figures of $121.3 million, beating our consensus estimate of $113.28 million.
The company’s three operating segments—franchise segment revenue, coroporate-owned stores segment revenue, and equipment segment revenue—all posted double-digit percentage revenue gains. Franchise segment revenue, composed of commission income and national advertising fund revenue, saw the largest percentage increase at 48.4%.
“Our success is being fueled by expansion…in existing and new markets combined with growing brand awareness from increased investments in national and local advertising We continue to explore ways to strengthen our offering, including utilizing technology to provide more immersive workout experiences and personalized workout recommendations,” CEO Chris Rondeau said.
Looking forward, Planet Fitness expects a 20% increase in total revenue this year as compared to the year ended December 31, 2017.
Here’s a graph that looks at Planet Fitness’s recent earnings performance:
Planet Fitness, Inc. franchises and operates fitness centers through its subsidiaries. It is engaged in licensing and selling franchises under the Planet Fitness trade name, owning and operating fitness centers under the Planet Fitness trade name, and selling fitness-related equipment to franchisee-owned stores.
Check back later for our full analysis on Planet Fitness’ earnings report!
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