NYSE$PLNT
Planet Fitness Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Planet Fitness reported strong Q1 2023 results, driven by membership growth and same-store sales increases.
Planet Fitness announced strong first-quarter results, with total revenue increasing by 19.0% to $222.2 million. System-wide same-store sales grew by 9.9%, and the company ended the quarter with over 18.1 million members. The company repurchased $25 million in shares in the first quarter and an additional $25 million in the second quarter.
- Total revenue increased by 19.0% to $222.2 million.
- System-wide same store sales increased by 9.9%.
- Net income attributable to Planet Fitness, Inc. was $22.7 million, or $0.27 per diluted share.
- Ended first quarter with total membership of more than 18.1 million.
Headline financials
Revenue & EPS history
Planet Fitness · Revenue · Quarterly
$222M
Revenue by segment
Planet Fitness · $222M total across 3 segments · Q1 2023
- Corporate-Owned Clubs$106M+39.0%47.6%
- Franchise Segment$92.7M+15.7%41.7%
- Equipment Segment$23.7M-22.0%10.7%
Forward guidance
The Company is reiterating the following expectations as compared to the Company’s 2022 results, which assumes there is no material resurgence of COVID-19 that causes member disruptions, whether via shutdowns or more stringent mandates that result in a significant change in membership behaviors, or any significant new supply chain disruptions:
Tailwinds
- New equipment placements of approximately 160 in franchisee-owned locations
- System-wide same store sales in the high single-digit percentage range
- Revenue to increase in the 13% to 14% range
- Adjusted EBITDA to increase in the 17% to 18% range
- Adjusted net income to increase in the 30% to 33% range
Headwinds
- Assumes there is no material resurgence of COVID-19 that causes member disruptions
- Assumes there is no shutdowns or more stringent mandates that result in a significant change in membership behaviors
- Assumes there is no any significant new supply chain disruptions
- Company continues to expect 2023 net interest expense to be approximately $75 million.
- Company also expects capital expenditures to increase to the mid-30% range driven by additional stores in our corporate-owned portfolio and depreciation and amortization to increase to the mid-10% range driven by the increase in capital expenditures and a full-year of depreciation and amortization of the assets acquired in the Sunshine Acquisition in our results over 2022.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+1.6%
Avg return
Earnings day
+2.5%
Avg return
5 days after
+3.4%
Avg return
30 days after
56%
24 / 43 earnings
Positive
+18.0%
Q3 2018
Best reaction
-32.5%
Q1 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -32.5% | -22.7% | -20.8% | |
| Q4 2025 | -7.6% | -9.5% | -16.9% | |
| Q3 2025 | +12.6% | +15.4% | +21.1% | |
| Q1 2025 | -4.7% | -7.8% | +3.8% | |
| Q4 2024 | -9.2% | -6.7% | -0.1% | |
| Q3 2024 | +12.6% | +11.9% | +18.0% | |
| Q2 2024 | +5.2% | +9.8% | +13.5% | |
| Q1 2024 | +5.0% | +6.4% | +10.1% | |
| Q4 2023 | -3.3% | -3.6% | -9.0% | |
| Q3 2023 | +11.6% | +16.3% | +23.3% | |
| Q2 2023 | -7.2% | -7.2% | -6.9% | |
| Q1 2023 | -14.7% | -13.8% | -21.9% | |
| Q4 2022 | +1.9% | +2.5% | -5.9% | |
| Q3 2022 | +11.3% | +15.5% | +24.4% | |
| Q2 2022 | -4.9% | -5.4% | -13.9% | |
| Q1 2022 | +1.5% | +5.2% | +2.1% | |
| Q4 2021 | -4.0% | -4.8% | -4.6% | |
| Q3 2021 | +15.9% | +14.4% | -2.4% | |
| Q2 2021 | -0.7% | -0.7% | +1.9% | |
| Q1 2021 | -5.2% | -5.2% | -7.4% | |
| Q4 2020 | -0.3% | +6.7% | -0.5% | |
| Q3 2020 | +1.1% | +9.9% | +13.0% | |
| Q2 2020 | -1.5% | +0.4% | +20.7% | |
| Q1 2020 | +5.2% | +4.8% | +28.0% | |
| Q4 2019 | -10.1% | -19.9% | -37.8% | |
| Q3 2019 | +11.2% | +13.8% | +21.0% | |
| Q2 2019 | -3.3% | -1.3% | -12.8% | |
| Q1 2019 | -3.6% | -1.6% | +1.4% | |
| Q4 2018 | +3.1% | +7.8% | +19.9% | |
| Q3 2018 | +18.0% | +16.8% | +19.4% | |
| Q2 2018 | +7.6% | +9.1% | +4.3% | |
| Q1 2018 | -6.7% | -2.3% | +3.3% | |
| Q4 2017 | +9.2% | +9.7% | +12.0% | |
| Q3 2017 | +12.1% | +12.4% | +20.5% | |
| Q2 2017 | +8.3% | +4.6% | +7.3% | |
| Q1 2017 | -1.3% | +0.6% | +6.1% | |
| Q4 2016 | -1.6% | -1.6% | -10.4% | |
| Q3 2016 | +9.6% | +8.3% | +10.4% | |
| Q2 2016 | +10.9% | +9.7% | -0.3% | |
| Q1 2016 | +3.6% | — | — | |
| Q4 2015 | +6.1% | — | — | |
| Q3 2015 | +6.2% | — | — | |
| Q2 2015 | +2.0% | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — |
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