Planet Fitness (PLNT) Reports In-Line Q4 EPS

Planet Fitness (NYSE: PLNT) reported Q4 EPS of $0.26, in-line with the analyst estimate of $0.26. Revenue for the quarter came in at $183.6 million versus the consensus estimate of $178.83 million.

2022 Outlook:

For the year ending December 31, 2022, the Company expects the following, which includes the impact from the Sunshine Fitness acquisition and assumes there is no significant worsening of the COVID-19 pandemic that seriously impacts performance, including prolonged store closures or other mandated operational restrictions:

• New equipment placements of approximately 170 in franchisee-owned locations
• System-wide same store sales in the low double-digit percentage range

The following are 2022 growth expectations over the Company's 2021 results:

• Revenue to increase in the mid-50 percent range
• Adjusted EBITDA to increase in the high-50 percent range
• Adjusted Net Income to increase in the low-90 percent range
• Adjusted earnings per share to increase in the mid-80 percent range, based on Adjusted diluted shares outstanding of approximately 91.1 million, inclusive of the issuance of equity as part of the Sunshine Fitness acquisition

The Company also expects 2022 net interest expense to be approximately $89 million as a result of its recent debt refinancing and upsizing.

For earnings history and earnings-related data on Planet Fitness (PLNT) click here.

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