Planet Fitness (PLNT) Earnings Date & Reports

Key Takeaways

• Planet Fitness reported third quarter 2026 revenue of $360 million, up 9.0% year over year and ahead of Wall Street's consensus estimate of about $347.7 million.
• Adjusted earnings per share (EPS) came in at $0.83, slightly above the analyst consensus of $0.80 to $0.81, while GAAP (generally accepted accounting principles) net income was $52 million, or $0.70 per share.
• System-wide same-club sales rose 1.5%, a sharp deceleration from 6.9% a year earlier but still well above the consensus forecast of roughly 0.3%.
• Management raised its full-year outlook for revenue growth (to about 8%) and same-club sales (to about 1.5% to 2%), while reiterating adjusted EPS growth of roughly 6%.
• The company announced a strategic review of re-franchising its U.S. corporate-owned clubs, a new $500 million share repurchase authorization, and the acquisition of Be-Fit in Portugal, its sixth international market.
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Earnings Context and Why It Matters

Planet Fitness's third quarter results landed at a pivotal moment for the low-cost gym franchise. The company has been working through a period of sharply moderating same-club sales growth after several quarters of double-digit gains, while simultaneously pushing initiatives to rebuild net member growth and broaden its international footprint. Investors were closely watching whether the brand's affordability-driven model could stabilize member counts and whether pricing and mix improvements could offset softer traffic. Because Planet Fitness is a franchise-heavy business, its quarterly report also serves as a barometer for franchisee confidence, equipment demand, and the health of the broader value-fitness consumer segment.

Reported Results

For the third quarter ended September 30, 2026, Planet Fitness reported total revenue of approximately $360 million, a 9.0% increase from $330.3 million in the prior-year period and above the consensus estimate of about $347.7 million. Adjusted EPS came in at $0.83, edging past analyst expectations of roughly $0.80 to $0.81. On a GAAP basis, net income was $52 million, or $0.70 per share, compared with $58.8 million, or $0.70 per share, a year earlier.

System-wide same-club sales increased 1.5%, ahead of the consensus forecast of about 0.3% but a substantial slowdown from 6.9% in the third quarter of 2025. The company finished the quarter with approximately 21.5 million members, up roughly 4% year over year, and an average monthly attrition rate of 3.6%. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 3.9%, with an adjusted EBITDA margin of approximately 41%. Planet Fitness opened 33 new clubs during the quarter, bringing its year-to-date total to 71.

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Market Reaction and Investor Sentiment

The initial market reaction was modestly positive, with shares ticking up roughly 1.3% to about $58.10 in pre-market trading following the report. Investors appeared to weigh the revenue and EPS beats against the meaningful slowdown in same-club sales growth. The company's decision to raise its full-year revenue and comparable-sales guidance, while reiterating adjusted EPS growth, helped reinforce confidence that profitability remains intact even as top-line growth normalizes. The announcement of a $500 million buyback and a strategic review of re-franchising corporate-owned clubs was also seen as supportive of shareholder returns and capital efficiency.

Forward Outlook and Key Factors to Monitor

Looking ahead, Planet Fitness raised its full-year 2026 revenue growth expectation to approximately 8%, up from a prior outlook of about 7%, and now projects system-wide same-club sales growth of about 1.5% to 2%, versus a prior outlook of around 1%. The company reiterated its expectation for adjusted diluted EPS to rise approximately 6%, and raised its full-year new club opening target to roughly 190 to 195 locations, up from 180 to 190.

Several factors will be important to watch. First, the company is testing new amenities and has signaled a potential price increase for its higher-tier Black Card membership after the 2026 peak joining season, which could support future revenue per member. Second, the announced strategic review of re-franchising U.S. corporate-owned clubs may reshape the company's asset-light model and capital allocation.

Investors should also monitor attrition trends and net membership growth, given that same-club sales have decelerated considerably. Finally, international expansion remains a longer-term catalyst, with the Be-Fit acquisition in Portugal extending the company's presence to a sixth market. Any updates on these initiatives in the coming quarters will be central to how the market evaluates Planet Fitness's growth trajectory.

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