Why Planet Fitness (PLNT) Shares Are Surging Today - Planet Fitness (NYSE:PLNT)

Planet Fitness Inc PLNT reported third-quarter FY22 sales growth of 58.4% year-on-year to $244.39 million, beating the consensus of $234.99 million.
System-wide same store sales increased 8.2%.
Revenue from the Franchise segment rose 7.1% Y/Y to $80.7 million, the Corporate-owned stores climbed 130.8% to $101.3 million, and Equipment gained 78.2% Y/Y to $62.3 million.
Total operating costs and expenses rose 66.3% Y/Y to $182.4 million. The operating margin was 25.3%, and operating income for the quarter rose 39% to $61.9 million.
Adjusted EBITDA increased 52.2% Y/Y to $93.9 million. Adjusted EPS of $0.42 beat the consensus of $0.38.
The company held $467.2 million in cash and equivalents as of September 30, 2022.
Outlook: Planet Fitness sees FY22 sales growth in the high-50% range (previously mid-50% range).
The company expects FY22 adjusted EBITDA to increase about 60% (previously in high-50%).
It sees FY22 adjusted EPS to increase in the mid-90% range (previously in the mid-80% range).
Price Action: PLNT shares are trading higher by 11.3% at $68.60 on the last check Tuesday.
Photo Via Company

Planet Fitness Pops After Q3 Earnings Beat