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Thursday, November 7, 2019

-=Planet Fitness (PLNT) reported earnings on Thur 7 Nov 19 (a/h)

Planet Fitness reports EPS in-line, beats on revs; guides FY19 EPS in-line, revs in-line 
  • Reports Q3 (Sep) earnings of $0.36 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $0.36; revenues rose 22.1% year/year to $166.82 mln vs the $162.26 mln S&P Capital IQ Consensus.
    • Franchise segment revenue increased $11.9 million or 21.7% to $66.7 million from $54.8 million in the prior year period, driven primarily by higher royalty revenue as a result of new stores opened since July 1, 2018, an 8.1% increase in same store sales, and a higher average royalty rate;
    • System-wide same store sales increased 7.9%
  • Co issues in-line guidance for FY19, sees EPS of ~$1.56, excluding non-recurring items, vs. $1.57 S&P Capital IQ Consensus; sees FY19 revs increase of ~19% (implying $681.75 mln) vs. $683.65 mln S&P Capital IQ Consensus.
    • Total revenue to increase approximately 19% as compared to the year ended December 31, 2018, up from prior guidance of approximately 18%;
      Total new store equipment sales in the high end of the range of 250 to 260
    • System-wide same store sales of approximately 8.6%, up from prior guidance of approximately 8%

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