Planet Fitness (PLNT) Q2 Earnings and Revenues Top Estimates

Group 1: Earnings Performance - Planet Fitness reported quarterly earnings of $0.71 per share, exceeding the Zacks Consensus Estimate of $0.65 per share, and up from $0.65 per share a year ago, representing an earnings surprise of 9.23% [1] - The company posted revenues of $300.94 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.93%, compared to year-ago revenues of $286.46 million [2] Group 2: Market Performance - Planet Fitness shares have declined approximately 1.4% since the beginning of the year, while the S&P 500 has gained 8.7% [3] - The current consensus EPS estimate for the upcoming quarter is $0.60 on revenues of $288.23 million, and for the current fiscal year, it is $2.43 on revenues of $1.14 billion [7] Group 3: Industry Outlook - The Leisure and Recreation Services industry, to which Planet Fitness belongs, is currently ranked in the bottom 16% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment [5]