Inclusive gym franchise company (NYSE:PLNT) will be announcing earnings results this Wednesday before the bell. Here’s what investors should know.
Planet Fitness missed analysts’ revenue expectations by 1.2% last quarter, reporting revenues of $276.7 million, up 11.5% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates but a miss of analysts’ EPS estimates.
Is Planet Fitness a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Planet Fitness’s revenue to grow 10.5% year on year to $332.5 million, improving from the 5.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.79 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Planet Fitness has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Planet Fitness’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Hasbro’s revenues decreased 1.5% year on year, beating analysts’ expectations by 11.2%, and ThredUp reported revenues up 16.4%, topping estimates by 4%. Hasbro traded down 3.3% following the results.
Read our full analysis of Hasbro’s results here and ThredUp’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 2.5% on average over the last month. Planet Fitness is up 3.2% during the same time and is heading into earnings with an average analyst price target of $117.88 (compared to the current share price of $110.28).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.