Planet Fitness Inc - Class A
Q2 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +2.54%.
Did PLNT Beat Earnings? Q2 2025 Results
Planet Fitness delivered a standout second quarter on the 10-year anniversary of its IPO, posting adjusted EPS of $0.86 against a consensus estimate of $0.79, an 8.67% beat, while revenue of $340.88 million topped expectations by 3.32% and grew 13.3% year-over-year. The single clearest driver of the upside was broad-based momentum across all three business segments, headlined by system-wide same club sales growth of 8.2% and an Equipment segment that surged 21.5% to $82.23 million on stronger sales into existing franchisee-owned clubs. Total membership reached approximately 20.8 million across 2,762 locations, reinforcing the company's value-focused positioning at a time when demand for affordable fitness alternatives remains robust. A binding agreement to sell eight California corporate-owned clubs to a franchisee signals continued commitment to its asset-light strategy. Management narrowed its full-year same club sales growth outlook to approximately 6%, while reiterating revenue and adjusted EBITDA growth in the 10% range and adjusted diluted EPS growth of 11% to 12%.
- System-wide same club sales growth of 8.2%
- Franchise same club sales increase of 8.3%
- Corporate-owned same club sales increase of 7.0%
- Higher equipment sales to existing franchisee-owned clubs driving 21.5% equipment revenue growth
- Higher margin equipment sales from updated equipment mix under franchise growth model
- 23 new club openings system-wide during the quarter
- Total membership reached approximately 20.8 million
“Today marks the 10-year anniversary for Planet Fitness as a public company. Over the past decade, through a steadfast commitment to our mission and strategy, we've added nearly 14 million members, expanded our global footprint by more than 1,700 clubs, and established a presence in all 50 states and four additional countries. While we are proud of our accomplishments, we believe there is even greater opportunity ahead. As consumers increasingly prioritize health and well-being, Planet Fitness is well-positioned to meet this demand with our judgement-free, high-quality, and affordable fitness experience. Early momentum in programs like our High School Summer Pass – which is now in its fifth year and outpacing prior-year sign-ups and workouts – underscores our potential.”
Planet Fitness CEO, on the earnings call
Forward Guidance & Outlook
For full-year 2025, Planet Fitness is narrowing and reiterating guidance: system-wide same club sales growth of approximately 6% (raised from 5%-6%), new club openings of approximately 160-170 locations, and new equipment placements of approximately 130-140 in franchisee-owned locations. Revenue and Adjusted EBITDA are each expected to increase in the 10% range over 2024. Adjusted net income is expected to grow 8%-9%, with adjusted diluted EPS growth of 11%-12% based on approximately 84.5 million adjusted diluted weighted-average shares. Net interest expense is expected to be approximately $86 million. Capital expenditures are expected to increase approximately 20% driven by additional corporate-owned clubs. The company believes its tariff exposure is limited under current regulations.
PLNT YoY Financials
PLNT Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.