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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Planet Fitness beats profit and revenue expectations and matches on same-store sales, and stock set to fallTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
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