Planet Fitness rises after co posts upbeat Q4 results

Planet Fitness

22/02/2024 12:23

** Shares of Planet Fitness  PLNT.N  up 2.4% at $67.45
premarket
    ** The fitness center operator posts upbeat Q4 results,
helped by increased member enrollment at its fitness centers
    ** Posts Q4 revenue of $285.09 mln, slightly ahead of
estimates of $285.04 mln; reports adj. profit of 60 cents/shr vs
expectations of 58 cents
    ** As of Dec. 31, 2023, Planet Fitness had about 18.7
million members, up from 17 million members at the end of 2022
    ** Still, PLNT projects 2024 revenue and profit below
estimates; says 2024 will be a year of transition
    ** Sees FY revenue to increase in the 6% to 7% range vs
estimates of 8.2% growth - LSEG data 
    ** Expects FY adj. EPS to grow in the 10% to 11% range,
compared to estimates of 13.5% growth 
    ** Separately, PLNT also says CFO Tom Fitzgerald will retire
at the end of Aug
    ** As of last close, stock had fallen 9.8% YTD

 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com; Twitter: https://twitter.com/Vanaik_Granth;))