Planet Fitness beats Street 4Q forecasts
NEWINGTON, N.H. (AP) — Planet Fitness Inc. on Thursday reported fourth-quarter net income of $2.5 million.
The Newington, New Hampshire-based company said it had profit of 6 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, were 17 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The fitness center operator posted revenue of $105.8 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $95.9 million.
For the year, the company reported profit of $18.5 million, or 11 cents per share. Revenue was reported as $330.5 million.
Planet Fitness expects full-year earnings in the range of 60 cents to 63 cents per share, with revenue in the range of $355 million to $365 million.
Its shares ended Thursday up 10 cents at $14.81. They have decreased 5 percent since the beginning of the year.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PLNT at http://www.zacks.com/ap/PLNT
Keywords: Planet Fitness, Earnings Report
This story has been corrected to read that the company is based in New Hampshire, not Massachusetts.