PLNT earnings analysis
What we found in PLNT's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Planet Fitness reported Q1 2026 revenue of $337.2 million, a 21.9% increase compared to the same period last year, with EPS coming in at $0.74, beating expectations by $0.11. Despite significant revenue growth, management has revised down 2026 guidance due to softer membership sign-ups and delays in price increases.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Increases 21.9% Year-Over-Year
- Total revenue reached $337.2 million, up from $276.7 million in Q1 2025.
- Earnings Per Share Beat Estimates
- The reported EPS was $0.74, exceeding the consensus estimate of $0.63 by $0.11.
- Franchise Segment Revenue Growth
- Franchise segment revenue increased 16.7% to $134.5 million, up from $115.2 million.
- Strong Equipment Segment Performance
- Equipment segment revenue surged 123.4% to $62.1 million compared to $27.8 million last year.
- Operating Cash Flow at $147.5 Million
- Operating cash flow increased from $133.9 million year-over-year.
- Cash and Cash Equivalents at $375.3 Million
- Cash as of March 31, 2026, totaled $375.3 million, reflecting strong liquidity.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Lowered Growth Expectations
- Management has reduced 2026 revenue growth guidance from approximately 9% to about 7%.
- Membership Sign-up Issues Persist
- Management cited weak sign-up performances, constraining potential revenue growth.
- Increased Interest Expense
- Interest expense rose by 25.8% to $33 million due to a higher principal balance.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.74
- Segment
- Franchise: $134.5M
- Segment
- Corporate-owned clubs: $140.6M
- Segment
- Equipment: $62.1M
What they said about what is next.
Management revised 2026 revenue growth expectations down to about 7%.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 25, 2026
- Planet Fitness positions itself as a low-cost, high-scale franchisor focused on the “Judgement Free Zone” experience and rapid unit growth driven by franchise partners. In 2025 the company recorded revenues of $1.3…
- 10-Q · November 7, 2025
- Planet Fitness reported Q3 revenue of $330.345M, up 13.0% year-over-year, with income from operations of $107.068M and diluted EPS of $0.70 (vs. $0.50 prior year). Corporate and franchise segments all grew, equipment…
- 10-Q · May 9, 2025
- Planet Fitness reported first-quarter revenue of $276,662,000 and diluted EPS of $0.50 for the three months ended March 31, 2025. Gross margin remained elevated at ~91.9% and operating income rose to $79,202,000;…
- 10-Q · November 7, 2024
- Planet Fitness reported quarterly revenue of $292.246M and diluted EPS of $0.50 for the three months ended September 30, 2024. Revenue and operating income both increased year-over-year (revenue +$14.695M, operating…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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