Planet Fitness Reports Positive Third Quarter Earnings for FY2023

☀️Earnings Overview

On September 30 2023, PLANET FITNESS ($NYSE:PLNT) announced its earnings report for the third quarter of FY2023. Total revenue for the quarter was USD 277.6 million, a 13.6% rise from the third quarter of FY2022. Additionally, the company saw a 45.4% year-over-year increase in net income, bringing it to USD 39.1 million.

Stock Price

This was a soar of 13.4% from the previous closing price of 55.2. This was driven by an increase in same-store sales and new store openings. This was a result of the strong growth in revenue and cost-control initiatives that were implemented throughout the year. The company is continuing to focus on expanding their presence in the fitness industry and is well-positioned for future growth. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Planet Fitness. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Planet Fitness. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Planet Fitness. More…

Key Ratios Snapshot

Some of the financial key ratios for Planet Fitness are shown below. More…

Analysis

At GoodWhale, we have analyzed the fundamentals of PLANET FITNESS and classified it as a ‘gorilla’ company based on our Star Chart. This type of company typically has strong competitive advantage and displays stable and high revenue or earnings growth. We believe that this makes PLANET FITNESS an attractive investment target for a range of investors. Specifically, PLANET FITNESS is strong in assets and growth, and medium in profitability and dividends. Its intermediate health score of 6/10, taking into account its cashflows and debt, indicates that the company is likely to be able to ride out any crisis without the risk of bankruptcy. All of these factors combine to make PLANET FITNESS an attractive option for investors of all kinds. More…

Peers

Planet Fitness Inc is in competition with Destination Maternity Corp, Tractor Supply Co, and Accel Entertainment Inc. Each company is vying for a share of the market and the customer base. Each company has its own strengths and weaknesses, and each is trying to get an edge over the others.

– Destination Maternity Corp ($OTCPK:DESTQ)

Destination Maternity Corporation is a publicly traded retailer of maternity apparel in the United States. The Company operates through two segments: Motherhood Maternity(R) and A Pea in the Pod(R). As of October 28, 2017, the Company operated 1,948 retail locations, of which 1,060 were Motherhood Maternity stores, 514 were Destination Maternity stores, 274 were A Pea in the Pod stores and 100 were leased departments located within department stores and baby specialty stores. The Company’s retail locations are located in the United States, Puerto Rico, Canada and the United Kingdom. The Company offers a variety of apparel, including casual wear, work-out wear, sleepwear, lingerie and accessories. The Company also offers a line of nursing apparel and a line of children’s clothing.

– Tractor Supply Co ($NASDAQ:TSCO)

Tractor Supply Company is an American retail chain of stores that offer products for home improvement, agriculture, lawn and garden maintenance, and livestock, equine and pet care. It operates more than 2,000 stores in the United States.

Tractor Supply’s market cap is $23.79 billion as of 2022. The company’s return on equity is 45.88%. Tractor Supply is a leading retailer in the United States, offering products for home improvement, agriculture, lawn and garden maintenance, and livestock, equine and pet care. The company operates more than 2,000 stores across the country.

– Accel Entertainment Inc ($NYSE:ACEL)

Accel Entertainment Inc is a gaming technology company that provides gaming devices, systems and services for the gaming industry. The company has a market capitalization of $842.69 million and a return on equity of 32.45%. Accel Entertainment Inc provides gaming devices, systems and services for the gaming industry. The company offers gaming devices, systems and services for the gaming industry.

Summary

Investors appeared pleased with the earnings results of Planet Fitness for the third quarter of FY2023 with total revenue increasing 13.6% year-over-year to USD 277.6 million and net income up 45.4%. On September 30, the stock price rose in response to the positive news, indicating that investors have high hopes for the company’s future performance. Going forward, continued analysis of financials and overall industry trends will be key when assessing the overall investment potential of Planet Fitness.