Why Are Planet Fitness Shares Jumping Today?
Portfolio Pulse from Shivani Kumaresan
Planet Fitness Inc (NYSE:PLNT) shares are trading higher after the company reported Q3 FY23 earnings above street view and raised its outlook. The company reported a 13.6% YoY sales growth to $277.60 million, beating the analyst consensus estimate of $268.26 million. The company also raised its FY23 sales growth outlook to 14% from 12% and expects FY23 adjusted EBITDA to increase about 18% from 17%. The company's shares are trading higher by 10.48% at $60.95 in premarket trading.
November 07, 2023 | 1:59 pm
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Planet Fitness reported Q3 FY23 earnings above estimates and raised its FY23 outlook, leading to a rise in its share price.
Planet Fitness reported better than expected earnings and raised its outlook for FY23, which is a positive signal for investors. This has led to an increase in the company's share price, indicating a positive short-term impact.
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