Stock Story -
Inclusive gym franchise company (NYSE:PLNT) will be announcing earnings results tomorrow morning. Here's what to expect.
Planet Fitness met analysts' revenue expectations last quarter, reporting revenues of $248 million, up 11.6% year on year. It was a weak quarter for the company, with a miss of analysts' revenue estimates.
Is Planet Fitness a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Planet Fitness's revenue to grow 1.5% year on year to $290.7 million, slowing from the 27.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.66 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Planet Fitness has missed Wall Street's revenue estimates three times over the last two years.
Looking at Planet Fitness's peers in the leisure facilities segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Life Time delivered year-on-year revenue growth of 18.9%, beating analysts' expectations by 5.2%, and Live Nation reported revenues up 7%, in line with consensus estimates. Life Time traded up 7.5% following the results while Live Nation was also up 1.6%.
Read the full analysis of Life Time's and Live Nation's results on StockStory.
There has been positive sentiment among investors in the leisure facilities segment, with share prices up 3.3% on average over the last month. Planet Fitness's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $82.3 (compared to the current share price of $72.4).
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