Shares of Planet Fitness (NYSE:PLNT) fell more than 5% intra-day today after the company posted first-quarter results that came in below analyst expectations on both earnings and revenue, despite solid membership and sales growth.
The company reported adjusted earnings per share of $0.59, missing the $0.62 estimate. Revenue rose 12% year-over-year to $276.7 million but still came in short of the $279.8 million forecast.
Franchise segment revenue climbed 11% to $115.2 million, matching projections, while corporate-owned store revenue grew 9.2% to $133.7 million, slightly below expectations of $136.3 million. Same-store sales for franchises rose 6.2%, topping the estimated 5.73%.
CEO Colleen Keating highlighted membership growth and resilience, noting the company ended the quarter with approximately 20.6 million members—an increase of around 900,000 since year-end 2024—and system-wide same-store sales were up 6.1%.
Adjusted EBITDA for the quarter was $117 million, a 10% increase from the previous year, though shy of the $119.7 million consensus.
Planet Fitness reaffirmed most of its full-year guidance but trimmed its capital expenditure outlook, now anticipating a 20% increase versus the prior 25% forecast, citing a more cautious stance amid growing economic uncertainty.