Planet Fitness' Q4 Sales Top Estimates

Planet Fitness Inc PLNT reported fourth-quarter FY21 sales growth of 37.3% year-on-year, to $183.6 million, beating the Street view of $178.83 million. System-wide same-store sales increased 12.3%.
Revenue from the franchise segment rose 17.3% Y/Y to $78.4 million, the corporate-owned stores climbed 15.3% to $44.9 million, and equipment gained 115.7% Y/Y to $60.4 million.
Total operating costs and expenses rose 52% Y/Y to $154.5 million. The operating margin was 15.9%, and operating income for the quarter fell 9.3% to $29.2 million.
Adjusted EBITDA increased 23.3% Y/Y to $63 million. Adjusted EPS of $0.26 matched the consensus.
The company held $603.9 million in cash and equivalents as of December 31, 2021.
Outlook: Planet Fitness sees FY22 sales growth in the mid-50% range. The company expects FY22 adjusted EBITDA up in high-50% and adjusted EPS to increase in the mid-80% range.
Price Action: PLNT shares are trading lower by 0.26% at $89.39 on the last check Thursday.

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