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Planet Fitness jumps on earnings, revenue beat

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Planet Fitness jumps on earnings, revenue beat

) shares surged in early Tuesday trading after the gym franchise reported third-quarter earnings that impressed investors and raised its full-year 2023 guidance.

The company's Q3 EPS was $0.59, $0.04 better than the analysts' estimate of $0.55, while revenue for the quarter came in at $277.6 million, up 13.6% YoY and above the consensus estimate of $268.26 million. "With our industry-leading results, we're adjusting our store-level return model to further improve the attractiveness of opening and operating Planet Fitness stores in a new macro-environment," revealed Governor Craig Benson, PLNT's interim Chief Executive Officer.

 

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