Planet Fitness Q3 Adjusted Net Income, Revenue Gain; Updates 2024 Guidance

MT Newswires Live

2024-11-07

Planet Fitness (PLNT) reported Q3 adjusted net income Thursday of $0.64 per diluted share, up from $0.59 a year earlier.

Analysts polled by Capital IQ expected $0.58.

Revenue for the quarter ended Sept. 30 was $292.2 million, up from $277.6 million a year earlier.

Analysts surveyed by Capital IQ expected $285.3 million.

The company said it now expects 2024 adjusted EPS to grow 11% to 12%, compared with 7% to 9% previously. Analysts surveyed by Capital IQ expect 2024 normalized earnings per share of $2.44.

The company now expects 2024 revenue to increase 8% to 9%, compared with 4% to 6% previously. Analysts polled by Capital IQ expect full-year revenue of $1.13 billion.

The company's shares were up 8.1% in premarket activity Thursday.

Price: 83.96, Change: -0.69, Percent Change: -0.82

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