PLNT - Planet Fitness Non-GAAP EPS of $0.41 misses by $0.05 revenue of $222.2M misses by $16.1M

2023-05-04 06:41:58 ET

• Planet Fitness press release ( NYSE: PLNT ): Q1 Non-GAAP EPS of $0.41 misses by $0.05 .
• Revenue of $222.2M (+19.0% Y/Y) misses by $16.1M .
• Adjusted EBITDA increased $13.5 million to $90.2 million from $76.7 million in the prior year period.
• Cash of $523.0 million, which includes cash and cash equivalents of $460.4 million and restricted cash of $62.6 million.

• The following are 2023 growth expectations over the Company's 2022 results:

• Revenue to increase in the 13% to 14% range

• Adjusted EBITDA to increase in the 17% to 18% range

• Adjusted net income to increase in the 30% to 33% range

• Adjusted earnings per share to increase in the 33% to 36% range, based on Adjusted diluted shares outstanding of approximately 89.5 million, inclusive of one million shares repurchased.

• $25 million in shares repurchased in first quarter and an additional $25 million repurchased in the second quarter

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