Planet Fitness stock jumps on outlook, sales beat

Published: Nov 7, 2019 4:37 p.m. ET

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KimberlyChin

Shares of Planet Fitness Inc. PLNT, +1.93% rose 6.9% in after-hours trading after the company beat analysts' sales projections and raised its outlook for the year.

The fitness-center operator reported sales of $166.8 million for the fiscal third quarter, topping analysts' estimates of $162.3 million, according to a FactSet poll. Same-store sales rose 7.9%, which was also ahead of analysts' estimates of 7.2% growth. Meanwhile, adjusted earnings were in line with analysts' estimates.

The company also raised its sales and adjusted earnings growth targets for fiscal 2019.

Write to Kimberly Chin at [email protected]

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