Planet Fitness shares surge as company raises revenue outlook

The gym chain also boosted its revenue outlook for the year.Follow your favorite stocksA person works out at Planet Fitness as they re-open at 25 percent capacity in Boston's Dorchester on Feb. 1, 2021.shares surged double-digits after beating expectations on both lines for the third quarter and raising its outlook for the year.

Interim CEO Craig Benson led the company's quarterly earnings call with analysts and investors following thein mid-September, stunning both investors and employees. The company didn't share additional details on his departure during the earnings call, but Benson confirmed the search for his replacement is "going well." Shares have recovered since Rondeau's departure, but remain down over 20% year-to-date.

an increased franchise agreement from 10 years to 12 years to eliminate the initial $20,000 franchise feesre-equip periods extended to free up capital and reduce store spending

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