PLNT - Planet Fitness: Growth Continues But We Cannot Get Behind The Stock
2024-05-09 13:51:54 ET
Summary
- Planet Fitness, Inc. Q1 earnings show 11.6% revenue growth, in line with expectations.
- Franchise segment revenue and corporate-owned store sales both increased, but equipment sales declined.
- Adjusted EBITDA and net income grew, but guidance for future growth was reduced, leading to a cautious outlook.
- Why we cannot get behind Planet Fitness, Inc. stock here.
As many of our readers know, we have traded Planet Fitness, Inc. (PLNT) stock several times . Recently, shares have been mixed between a weak market in April, as well as Planet Fitness being entrenched in a bit of a social rights snafu for its bathroom policies , leading to many to boycott the gym chain due to its open bathroom type policy. While intended to be inclusive, there are many examples of the policy seemingly being abused, and even if these were not the case, it harkens back to the bathroom policies of many states that were a subject of controversy....
Planet Fitness: Growth Continues, But We Cannot Get Behind The Stock