(Planet Fitness) American fitness center franchise and operator Planet Fitness’s shares climbed after reporting positive earnings in the third quarter.
Net income attributable to the firm climbed to $17.4 million or $0.21 per diluted share in the third quarter, up from the net loss of $3.1 million or $0.04 per diluted share a year ago.
Total revenue surged by 46.4% or $48.9 million to $154.3 million from $105.4 million, with system-wide same stores up 7.2%. Increases were reported in franchise segment revenue, corporate-owned stores, and equipment segments.
The company expects new store openings between 110 to 120 this year, with full-year revenue between $570 million and $580 million. Diluted adjusted net income per share is expected between $0.75 and $0.80.
Shares of the company grew 1.55% after the announcement. PLNT is up 9.67%.
