It has been about a month since the last earnings report for Planet Fitness (PLNT) . Shares have added about 4.3% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Planet Fitness due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Planet Fitness Q2 Earnings & Revenues ...

Peloton sets the bar really low for another industry stock attracting investor attention. Peloton Interactive (PTON 0.65%) seems to get all the attention these days, at least when it comes to the exercise industry. It thrived before and during the pandemic. But in the past couple of years, the business has been fighting for its survival. Its most recent financial update was cheered by investors, as maybe things will start to trend in the right direction. If you're considering buying this consumer discretion ...

Baird named Planet Fitness Inc (NYSE:PLNT) a "bullish fresh pick" through the end of the year, and maintained its "overweight" rating on the stock. The analyst in question also noted the company could buck a cooler growth environment. At last glance, shares were up 0.8% to trade at $81.75. The equity is trading at its highest level since May 2023, and moved back above its 20-day moving average. PLNT also toppled resistance at the $79 level, which capped a July rally. Fresh off their third-straight weekly wi ...

Shares of Planet Fitness, Inc. (PLNT) gained 35.6% in the past year, outperforming the Zacks Leisure and Recreation Services industry's 1.9% growth. The uptrend is most likely attributable to the efficient execution of its new growth model, favorable pricing strategies across its different membership cards, and international expansion initiatives. Image Source: Zacks Investment Research However, ongoing market uncertainties and inflationary pressures remain headwinds. Let us discuss the factors that highlig ...

Shauntil Cox lifts weights with the help of her trainer, Deano Troost, at a Planet Fitness in New Caney, Texas, on Sept. 19, 2023. A growing share of gym users is looking to build muscle, leading major fitness companies to refocus their efforts beyond cardio workouts. In fact, building muscle was the No. 1 goal for 2024, ahead of weight loss and general movement, according to Life Time's annual survey of 3,000 respondents. Now, both Peloton and Planet Fitness are expanding their investments in strength. Pla ...

The Good Brigade Summary Following my coverage of Planet Fitness (NYSE:PLNT) in Mar'23, which I recommended a hold rating as I saw no fundamental improvements and that there were no catalysts that would have driven a strong recovery in the near term, this post is to provide an update on my thoughts on the business and stock. I believe PLNT has shown improvement over the past few months, and there are visible catalysts that could drive growth acceleration in the coming quarters (most likely in FY25). I also ...

For the quarter ended June 2024, Planet Fitness (PLNT) reported revenue of $300.94 million, up 5.1% over the same period last year. EPS came in at $0.71, compared to $0.65 in the year-ago quarter. The reported revenue represents a surprise of +2.93% over the Zacks Consensus Estimate of $292.39 million. With the consensus EPS estimate being $0.65, the EPS surprise was +9.23%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stree ...

Financial Performance - Total revenue for Q2 2024 reached $300,941, an increase of 5.2% compared to $286,463 in Q2 2023[11]. - Net income attributable to Planet Fitness, Inc. for Q2 2024 was $48,640, up 18.3% from $41,135 in Q2 2023[11]. - Basic net income per share for Q2 2024 was $0.56, compared to $0.49 in Q2 2023, reflecting an increase of 14.3%[11]. - Total operating costs and expenses for Q2 2024 were $213,562, a slight increase from $209,461 in Q2 2023[11]. - The company reported a total comprehensive income of $48,651 for Q2 2024, compared to $44,214 in Q2 2023, representing an increase of 10.5%[13]. - Net income for the period ending June 30, 2024, is reported at $49,312,000, reflecting a significant increase compared to previous periods[23]. - Net income for the six months ended June 30, 2024, was $84,285,000, an increase from $68,948,000 in the same period of 2023, representing a growth of approximately 22.1%[17]. - Adjusted net income for Q2 2024 reached $62,167 thousand, up 7.2% from $57,665 thousand in Q2 2023[112]. - Adjusted net income for the first half of 2024 was $109,427 thousand, a 16.3% rise from $94,056 thousand in the first half of 2023[115]. Assets and Liabilities - As of June 30, 2024, total assets increased to $2,974,040 thousand from $2,969,693 thousand as of December 31, 2023, reflecting a growth of approximately 0.15%[9]. - Cash and cash equivalents decreased to $246,961 thousand from $275,842 thousand, a decline of about 10.5%[9]. - Total current liabilities rose to $272,126 thousand compared to $251,329 thousand, marking an increase of approximately 8.3%[9]. - Long-term debt increased significantly to $2,156,551 thousand from $1,962,874 thousand, representing a rise of about 9.8%[9]. - The accumulated deficit grew to $(910,626) thousand from $(691,461) thousand, indicating an increase of approximately 31.7%[9]. - Total stockholders' deficit attributable to Planet Fitness, Inc. increased to $(317,664) thousand from $(115,649) thousand, a rise of approximately 174.5%[9]. - As of June 30, 2024, the total equity deficit stands at $319,830,000, with an accumulated deficit of $910,626,000[19]. - The total debt, net of deferred financing costs, was $2,177,051 as of June 30, 2024, compared to $1,983,624 as of December 31, 2023[53]. Revenue Segments - Total revenue from corporate-owned stores for Q2 2024 was $125,466, up 10.3% from $113,759 in Q2 2023[11]. - Franchise segment revenue in the U.S. for Q2 2024 was $104,541, up 8.8% from $96,337 in Q2 2023[85]. - Corporate-owned stores segment revenue in the U.S. for Q2 2024 was $124,187, an increase of 10.4% from $112,618 in Q2 2023[85]. - Franchise segment revenue increased to $107,790,000 for the three months ended June 30, 2024, up 9.9% from $98,842,000 in the prior year[97]. - Corporate-owned stores segment revenue increased to $125,466,000 for the three months ended June 30, 2024, compared to $113,759,000 in the same period of 2023, reflecting a growth of 10.5%[97]. Membership and Store Growth - As of June 30, 2024, Planet Fitness has approximately 19.7 million members and operates 2,617 locations across various regions[26]. - The number of franchisee-owned stores increased to 2,358 as of June 30, 2024, from 2,230 a year earlier, marking a growth of 5.7%[95]. - Corporate-owned stores increased to 259 as of June 30, 2024, from 242 a year earlier, representing a growth of 7.0%[95]. - Planet Fitness opened 18 new stores in the three months ended June 30, 2024, compared to 26 new stores in the same period of 2023[100]. - The company had contractual commitments to open approximately 1,000 new stores as of June 30, 2024[95]. Cash Flow and Investments - Cash flows from operating activities for the first six months of 2024 were $167,948, compared to $157,330 in the same period of 2023, indicating a growth of 6.5%[17]. - The company reported a net cash used in investing activities of $90,436,000 for the six months ended June 30, 2024, a significant decrease from $201,021,000 in the prior year, indicating improved cash management[17]. - The company issued $800,000,000 in long-term debt during the six months ended June 30, 2024, to support its financing activities[17]. - Net cash provided by operating activities increased to $167,948,000 for the six months ended June 30, 2024, compared to $157,330,000 for the same period in 2023, reflecting a rise of about 6.5%[17]. Strategic Initiatives - The company is focused on expanding its franchise model, which is critical for revenue growth and operational profitability[5]. - Future growth strategies include new store development by existing and new franchisees, which is essential for increasing revenues and operating profits[5]. - The company anticipates continued growth through new store development and strategic partnerships, despite potential risks associated with competition and market conditions[4]. Accounting and Compliance - The company is evaluating the impact of new accounting standards effective after December 15, 2023, on its financial disclosures[34]. - The company was in compliance with its debt covenants as of June 30, 2024, with no material changes to debt obligations during the period[154].

Planet Fitness, Inc. (PLNT) reported stellar second-quarter 2024 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate and increasing year over year. The quarter's performance was driven by contributions from new store openings, higher royalty revenues and an asset-light growth model. The strength in the contributions from these factors was reflected in the year-overyear increase in system-wide same-store sales. The company aims to define its growth prospects by capitalizing on m ...

Planet Fitness, Inc. (NYSE:PLNT) Q2 2024 Earnings Conference Call August 6, 2024 8:00 AM ET Company Participants Stacey Caravella - Vice President of Investor Relations Colleen Keating - Chief Executive Officer Thomas Fitzgerald - Chief Financial Officer Conference Call Participants Randy Konik - Jefferies Simeon Siegel - BMO Capital Markets Sharon Zackfia - William Blair Jonathan Komp - Baird Joseph Altobello - Raymond James Christopher O'Cull - Stifel Financial Group Rahul Krotthapalli - JPMorgan Maksim R ...