From Investing.com: 2024-05-09 08:06:20

In Q1 CY2024, Planet Fitness (NYSE:PLNT) reported revenue of $248 million, meeting analyst expectations. Non-GAAP profit increased to $0.53 per share from $0.25 per share. Same-store sales rose by 6.2% year on year, with a market capitalization of $5.39 billion.

Planet Fitness, known for its inclusive gym franchise, saw annualized revenue growth of 12.8% over the last five years and 28.8% over the last two years. While same-store sales averaged 9% growth, new locations also contributed to revenue growth.

Despite strong cash profitability and a free cash flow margin averaging 18.6%, Planet Fitness’s free cash flow in Q1 was $63.42 million, down 15.3% from the previous year. The company lowered its full-year guidance, causing its stock to drop by 8.6%.



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