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Planet Fitness Reports Q4 Earnings Beat

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Planet Fitness (NYSE: PLNT) reported quarterly earnings of 44 cents per share on Tuesday, which beat the analyst consensus estimate of 41 cents by 7.32%. This is a 29.41% increase over earnings of 34 cents per share from the same period last year.

The company reported quarterly sales of $191.5 million, which beat the analyst consensus estimate of $189.1 million by 1.27% This is a 9.83% increase over sales of $174.36 million the same period last year.

Planet Fitness expects fiscal year 2020 sales increase of 12% year-on-year, and an adjusted EPS increase of 16% year-on-year.

"2019 was filled with many important milestones and financial achievements," said Chris Rondeau, CEO of Planet Fitness. "We opened a company record 261 new stores system-wide and ended the year with 2,001 Planet Fitness locations and approximately 14.4 million members. Our ability to attract casual, first time gym users to our welcoming, non-intimidating fitness concept, combined with higher black card pricing, fueled an 8.8% improvement in system-wide same store sales."

Planet Fitness shares closed down 3.64% at $81.17. The stock has a 52-week range between $88.77 and $56.14.

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