Planet Fitness Q3 Earnings & Revenues Beat, '24 View Raised

Zacks11-09

Planet Fitness, Inc. PLNT reported stellar third-quarter 2024 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate and increasing year over year.The quarter’s performance ...

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PLNT reported stellar third-quarter 2024 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate and increasing year over year.The quarter’s performance ...</p>\n\n<a href=\"https://finance.yahoo.com/news/planet-fitness-q3-earnings-revenues-173600955.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Planet Fitness Q3 Earnings & Revenues Beat, '24 View Raised</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPlanet Fitness Q3 Earnings & Revenues Beat, '24 View Raised\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-09 01:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/planet-fitness-q3-earnings-revenues-173600955.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Planet Fitness, Inc. PLNT reported stellar third-quarter 2024 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate and increasing year over year.The quarter’s performance ...</p>\n\n<a href=\"https://finance.yahoo.com/news/planet-fitness-q3-earnings-revenues-173600955.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PLNT","symbol_name":"Planet Fitness Inc","start_time":0,"source_url":"https://finance.yahoo.com/news/planet-fitness-q3-earnings-revenues-173600955.html","article_id":"2482439568","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/a2XTGCbWhxHO4u73Tgg5AA--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/6d60c027494ffe93fd1389d4f015d071"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482439568","pubTimestamp":1731087360,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Planet Fitness, Inc. PLNT reported stellar third-quarter 2024 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate and increasing year over year.The quarter’s performance was driven by contributions from new club openings and higher royalty revenues. The strength in the contributions from these factors was reflected in the year-over-year increase in system-wide same-club sales.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Planet Fitness, Inc. price-consensus-eps-surprise-chart | Planet Fitness, Inc. Quote. Planet Fitness still expects revenues to increase in the 8-9% range from the level of 2023, up from the prior estimate of 4-6% growth. System-wide same-club sales are predicted in the band of 4-5% compared with the prior estimate of a 3-5% gain. The company continues to anticipate new equipment placements to be between approximately 120 and 130 in franchisee-owned locations.Adjusted EBITDA is estimated to increase in the range of","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PLNT":"Planet Fitness Inc","HLT":"希尔顿酒店","CCL":"嘉年华邮轮","CUK":"嘉年华存托凭证"},"translate_title":"Planet Fitness第三季度盈利和收入超出预期，24年观点上调","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PLNT":1,"CCL":0.9,"CUK":0.9,"HLT":0.9},"content_text":"Planet Fitness, Inc. PLNT reported stellar third-quarter 2024 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate and increasing year over year.The quarter’s performance was driven by contributions from new club openings and higher royalty revenues. The strength in the contributions from these factors was reflected in the year-over-year increase in system-wide same-club sales.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.\nPLNT’s Earnings & Revenue Discussion\nThe company reported adjusted earnings per share (EPS) of 64 cents, which surpassed the Zacks Consensus Estimate of 58 cents by 10.3%. In the prior-year quarter, the company reported adjusted EPS of 59 cents.Quarterly revenues of $292.2 million topped the consensus mark of $284 million by 3%. The top line also improved 5.3% year over year, driven by system-wide same-club sales growth of 4.3% year over year.Adjusted EBITDA was $123.1 million, up from $111.9 million reported in the year-ago quarter.\n\nPlanet Fitness, Inc. Price, Consensus and EPS Surprise\n  \nPlanet Fitness, Inc. price-consensus-eps-surprise-chart | Planet Fitness, Inc. Quote\n\nPLNT’s Segmental Performance\nFranchise: Revenues of $102.2 million rose 4.3% on a year-over-year basis.  Our model predicted the metric to increase 6.7% from the prior-year level. This upside was driven by a rise of $6 million, stemming from an uptick in royalty revenues, $1.6 million from new clubs opened since July 1, 2023, and $1.2 million from higher royalties on annual fees.The segment’s EBITDA was $72.8 million, up 7.7% year over year.Corporate-owned Clubs: Revenues of this segment amounted to $128.1 million, up 13.1% year over year. Our anticipated value was $121.1 million. This uptick can be attributed to an increase of $9.6 million from corporate-owned clubs and $5.3 million from new clubs opened and acquired since July 1, 2023.Segment EBITDA totaled $50.1 million, up 13.2% year over year.Equipment: Segmental revenues totaled $61.7 million, down 6.7% year over year. We expected the metric to decline 8% year over year. This downside was due to lower revenues from equipment sales to new franchisee-owned clubs.This segment’s EBITDA was $18.5 million, up 12.5% year over year.\nOther Financial Details of PLNT\nAs of Sept. 30, 2024, Planet Fitness had cash and cash equivalents of $298.8 million compared with $275.8 million as of Dec. 31, 2023. Long-term debt (net of current maturities) was $2.15 billion, up from $1.96 billion as of Dec. 31, 2023.\n2024 Outlook of Planet Fitness\nPlanet Fitness still expects revenues to increase in the 8-9% range from the level of 2023, up from the prior estimate of 4-6% growth. System-wide same-club sales are predicted in the band of 4-5% compared with the prior estimate of a 3-5% gain. The company continues to anticipate new equipment placements to be between approximately 120 and 130 in franchisee-owned locations.Adjusted EBITDA is estimated to increase in the range of 8-9% compared with the prior estimate of 7-9%.Adjusted net income is now envisioned to increase in the band of 8-9% from the level of 2023, up from the prior expected range of 4-6%.Management forecasts adjusted EPS to increase in the range of 11-12% from 2023 levels, up from the earlier estimate of a 7-9% increase. It continues to anticipate adjusted shares outstanding to be approximately 86.5 million.PLNT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nRecent Consumer Discretionary Releases\nCarnival Corporation & plc CCL reported impressive third-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. Both top and bottom lines increased on a year-over-year basis. This upside was backed by sustained demand strength and increased booking volumes. In the quarter, the company reported strong booking momentum for 2025, with volumes remaining robust at higher prices compared with the prior year.The company raised its 2024 adjusted EBITDA guidance due to strong demand and cost-saving opportunities. Management expects net yields at constant currency to increase around 10.4% compared with 2023 levels, exceeding the prior guidance provided in June.Vail Resorts, Inc. MTN reported mixed fourth-quarter fiscal 2024 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. Revenues declined on a year-over-year basis and the adjusted loss widened from the prior-year quarter’s levels.In the quarter, its EBITDA declined year over year due to the underperformance of the winter business in Australia. Snowfall at Australia’s resorts fell 28% from the prior year’s levels and was 44% below the 10-year average, leading to an 18% drop in skier visitation. Although North America’s summer mountain business did not meet expectations, it achieved 15% revenue growth with fewer weather and construction-related disruptions.Hilton Worldwide Holdings Inc. HLT reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. Both the metrics increased on a year-over-year basis.The company's performance was backed by notable improvements in revenue per available room, attributed to higher occupancy rates and average daily rates. Furthermore, in the quarter, Hilton opened 531 new hotels. It achieved net room growth of 33,600. As of Sept. 30, 2024, Hilton's development pipeline comprised nearly 3,525 hotels, with almost 492,400 rooms across 120 countries and territories, including 28 countries and regions with no running hotels. For 2024, the company expects net unit growth in the range of 7-7.5%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nCarnival Corporation (CCL) : Free Stock Analysis Report\nHilton Worldwide Holdings Inc. (HLT) : Free Stock Analysis Report\nVail Resorts, Inc. (MTN) : Free Stock Analysis Report\nPlanet Fitness, Inc. (PLNT) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482439568"}