Planet Fitness Inc - Class A
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +0.75%.
Did PLNT Beat Earnings? Q1 2026 Results
Planet Fitness posted a sharply stronger-than-expected first quarter for fiscal 2026, with revenue climbing 21.9% year-over-year to $337.24 million against a consensus estimate of $297.87 million, a beat of 13.22%, while adjusted diluted EPS of $0.74 topped the $0.63 consensus by 17.57%. The standout driver was a surge in the Equipment segment, where revenue more than doubled to $62.15 million from $27.81 million a year ago, fueled by higher sales to existing franchisee-owned clubs. Franchise and corporate-owned club revenues also expanded, and system-wide same club sales rose 3.5% as total membership reached approximately 21.5 million across 2,909 locations globally. The strong headline numbers, however, were tempered by a meaningful guidance reset; the company cited slower-than-expected net member growth during peak sign-up season and paused a planned Black Card price increase, trimming full-year same club sales growth expectations to approximately 1% from a prior range of 4% to 5% and reducing revenue growth guidance to approximately 7%. Several directors received routine equity grants around the filing date, adding no material change to the company's ownership picture.
- System-wide same club sales increased 3.5%
- Equipment sales to existing franchisee-owned clubs increased $32.0 million
- National Advertising Fund contribution rate increase from 2% to 3% drove $10.3 million of additional franchise revenue
- Franchise royalty revenue grew $6.0 million driven by same club sales, new clubs, and higher annual fees
- 15 new clubs opened system-wide, all franchisee-owned, bringing total to 2,909
- Total membership of approximately 21.5 million
“In the first quarter, our top and bottom line results exceeded expectations. However, 2026 is off to a slower than expected start from a net member growth perspective as we faced internal and external headwinds during our peak sign-up period. As a result, we are sharpening our marketing to prioritize capturing demand and driving net member growth. Additionally we are pausing the planned national Black Card price increase pending a broader pricing review.”
Planet Fitness CEO, on the earnings call
Forward Guidance & Outlook
Planet Fitness reiterated expectations for 150-160 new equipment placements and 180-190 system-wide new club openings in 2026. However, the company significantly lowered other 2026 guidance due to lower-than-planned net joins in Q1 and the decision to pause the Black Card price increase. System-wide same club sales growth is now expected at approximately 1% (previously 4%-5%). Revenue growth is now expected at approximately 7% (previously ~9%). Adjusted EBITDA growth is now expected at approximately 6% (previously ~10%). Adjusted net income is now expected to decrease approximately 2% (previously an increase of 4%-5%). Adjusted net income per diluted share is expected to increase approximately 4% (previously 9%-10%), based on adjusted diluted weighted-average shares of approximately 79.0 million. Net interest expense is now expected at approximately $111.0 million (previously $114.0 million). Capital expenditures are expected to increase approximately 10%-15% and depreciation and amortization approximately 10% compared to 2025.
PLNT YoY Financials
PLNT Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.