Planet Fitness Earnings Growth Accelerates For Third Straight Quarter

Planet Fitness Earnings Growth Accelerates.Hot IBD 50 stock Planet Fitness (PLNT) reported its third straight quarter of accelerating earnings growth late Thursday. Planet Fitness stock, which has boomed on “judgement free” gyms with low membership fees, soared in after-hours trading.

Hot IBD 50 stock Planet Fitness (PLNT) reported its third straight quarter of accelerating earnings growth late Thursday. Planet Fitness stock, which has boomed on “judgement free” gyms with low membership fees, soared in after-hours trading.

Planet Fitness Earnings

Estimates: Wall Street expected Planet Fitness earnings to pump up 41% to 31 cents, according to Zacks Investment Research. Revenue was seen swelling 21% to $130 million. 

Results: Planet Fitness earnings jumped 54.5% to 34 cents a share. Sales grew 31% to 140.6 million. Same-store sales rose 10.2%.

Outlook: The gym operator sees 2018 revenue rising 26%, with systemwide comp growth of 9%-10%. Planet Fitness sees earnings rising 33% for the year.

The company also raised its stock buyback program to $500 million.

Planet Fitness Earnings

Estimates: Wall Street expected Planet Fitness earnings to pump up 41% to 31 cents, according to Zacks Investment Research. Revenue was seen swelling 21% to $130 million. 

Results: Planet Fitness earnings jumped 54.5% to 34 cents a share. Sales grew 31% to 140.6 million. Same-store sales rose 10.2%.

Outlook: The gym operator sees 2018 revenue rising 26%, with systemwide comp growth of 9%-10%. Planet Fitness sees earnings rising 33% for the year.

The company also raised its stock buyback program to $500 million.