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- Planet Fitness Inc PLNT reported second-quarter FY21 sales growth of 241% year-on-year, to $137.3 million, beating the analyst consensus of $127.2 million.
- Franchise segment revenue increased 246.9% Y/Y, Corporate-owned stores gained 330.8%, and the Equipment segment grew 142.8%.
- Adjusted EPS of $0.21 missed the analyst consensus of $0.23.
- Operating expenses increased 54.1% Y/Y to $96.9 million.
- The operating margin was 29.3%, and operating income for the quarter was $40.25 million.
- Planet Fitness opened 24 new stores during the period, bringing total stores to 2,170 as of June 30, 2021.
- The company held $527.4 million in cash and equivalents as of June 30, 2021.
- Net cash provided by operating activities for the six months amounted to $74.3 million.
- Adjusted EBITDA was $55.6 million, versus $(9.3) million in the prior year.
- Outlook: Planet Fitness sees FY21 sales of $530 million - $540 million, versus the consensus of $541.69 million.
- The company expects FY21 adjusted EPS of $0.65 - $0.70, versus the consensus of $0.94.
- Price action: PLNT shares traded lower by 3.23% at $71.86 in premarket on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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