PLNT - Planet Fitness Feels The Burn: Lowers Outlook Amid Tough Q1 Eyes Recovery | Benzinga
Planet Fitness, Inc. (NYSE:PLNT) shares are trading higher on Thursday after reporting first-quarter results.
The company reported adjusted earnings per share of 41 cents, missing the street view of 50 cents.
Quarterly revenues of $248 million missed the analyst consensus of $249.48 million. Total revenue increased from the prior year period by 11.6%, while system-wide same-store sales increased by 6.2%.
Franchise segment revenue increased 12.2% to $104.0 million, Corporate-owned stores segment revenue increased 15.6% to $122.4 million, and Equipment segment revenue decreased 8.6% to $21.6 million.
Adjusted EBITDA increased $16.1 million to $106.3 million from $90.2 million in the prior year period.
Planet Fitness said 25 new stores ...