PLNT - Planet Fitness gains after strong member growth helps boost revenue

Planet Fitness (NYSE:PLNT) says it returned to positive system-wide same store sales growth in Q3 and recorded the highest sequential net member growth of any third quarter in the history of the company. System-wide same store sales increased 7.2% during the quarter and adjusted net income was $22.0M vs. $1.6M last year. Planet Fitness (PLNT) also continues to expand, adding 24 new Planet Fitness stores in Q3 to bring its system-wide total store count to 2,193. Looking ahead, PLNT sees full-year revenue of $570M to $580m vs. $538M consensus and adjusted EBITDA of $210M to $220M. EPS of $0.75 to $0.80 is anticipated vs. $0.73 consensus. The gym operator expects to add 110 to 120 new stores this year. Shares of Planet Fitness (PLNT) are up 1.55% after the earnings topper.

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Planet Fitness gains after strong member growth helps boost revenue