Planet Fitness (NYSE:PLNT) delivered better-than-expected results for the second quarter, beating Wall Street projections on both earnings and revenue, while narrowing its full-year guidance.
Shares of the fitness chain dropped more than 5% during Wednesday's trading.
Earnings per share for the quarter came in at $0.86, surpassing the consensus estimate of $0.79. Revenue reached $340.9 million, topping expectations of $329.6 million.
System-wide same-store sales rose 8.2%, and adjusted EBITDA increased to $147.6 million from $127.5 million in the prior year.
For the full year, the company now anticipates same-store sales growth of approximately 6%, tightening its previous forecast range of 5% to 6%.
Revenue and adjusted EBITDA are both projected to grow about 10% over 2024 levels. Adjusted net income is expected to rise between 8% and 9%, while adjusted diluted EPS is forecasted to grow 11% to 12%, based on 84.5 million shares outstanding.
