Planet Fitness Inc. reported fourth‑quarter 2025 revenue of $376.3 million, up 10.5% from $340.5 million in Q4 2024, and a non‑GAAP earnings per share of $0.83, beating the consensus estimate of $0.79 by $0.04.
Same‑club sales grew 5.7% in the quarter, a lower figure than the 6.9% cited in the original article, while 104 new clubs opened, bringing the global club count to 2,896. The company’s member base reached 20.8 million, and the 50% price increase for new Classic Card members helped sustain demand.
Adjusted EBITDA rose 13.2% to $82.4 million, giving the company a 38.9% margin, an improvement from 38.4% in the prior year. The margin expansion reflects pricing power and operational leverage, offsetting modest cost increases.
For 2026, Planet Fitness guided 9% revenue growth and adjusted EPS of $3.35‑$3.38, below analyst expectations of $3.54. Management cited choppy member trends, higher interest costs, an extended equipment replacement cycle, and the sale of corporate‑owned California stores as factors tempering the outlook.
Investors reacted negatively to the moderated guidance, with the stock falling in early trading. The market’s focus on the softer 2026 outlook outweighed the Q4 earnings beat.
CEO Colleen Keating highlighted the company’s strong pricing power and record Black Card penetration of 66.5%, noting that the “reset” driven by equipment cycles and portfolio changes does not signal weakening demand but rather a strategic adjustment to maintain profitability.
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