Inclusive gym franchise company (NYSE:PLNT) will be announcing earnings results this Thursday before the bell. Here’s what investors should know.
Planet Fitness beat analysts’ revenue expectations last quarter, reporting revenues of $337.2 million, up 21.9% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a decent beat of analysts’ EBITDA estimates.
Is Planet Fitness a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Planet Fitness’s revenue to grow 4.6% year on year, slowing from the 13.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Planet Fitness rarely misses Wall Street’s revenue estimates.
Looking at Planet Fitness’s peers in the consumer discretionary - leisure facilities segment, some have already reported their Q2 results, giving us a hint as to what we can expect. AMC Entertainment delivered year-on-year revenue growth of 14.2%, beating analysts’ expectations by 8.7%, and Sphere Entertainment reported revenues up 11%, topping estimates by 1.8%. AMC Entertainment traded up 13.4% following the results while Sphere Entertainment was also up 2.2%.
Read our full analysis of AMC Entertainment’s results here and Sphere Entertainment’s results here.
Investors in the consumer discretionary - leisure facilities segment have had steady hands going into earnings, with share prices up 1.2% on average over the last month. Planet Fitness is up 7.2% during the same time and is heading into earnings with an average analyst price target of $67.36 (compared to the current share price of $56.21).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.