Planet Fitness Reiterates FY2024 Outlook: Adj EPS Of $2.40-$2.44 vs $2.43 Est; Sales Of $1.11B-$1.14B vs $1.13B Est

Author: Benzinga Newsdesk | August 06, 2024 06:33am

2024 Outlook

 

For the year ending December 31, 2024, the Company is reiterating the following expectations:

• New equipment placements of approximately 120 to 130 in franchisee-owned locations
• System-wide new store openings of approximately 140 to 150 locations

The Company is also reiterating the following growth expectations over its 2023 results:

• System-wide same store sales in the 3% to 5% percentage range
• Revenue to increase in the 4% to 6% range
• Adjusted EBITDA to increase in the 7% to 9% range
• Adjusted net income to increase in the 4% to 6% range
• Adjusted net income per share, diluted to increase in the 7% to 9% range, based on adjusted diluted weighted-average shares outstanding of approximately 86.5 million, inclusive of the shares expected to be repurchased as part of the ASR Agreement.

Posted In: PLNT