Expect downward pressure on PLNT as the market re-prices FY2026 expectations. The guidance reduction and price hike pause indicate decelerating momentum. Watch for read-through to other fitness/leisure names. The Q1 beat may provide a small buffer, but the outlook is the primary driver.
Price Chart
Executive Summary
Planet Fitness reported Q1 2026 EPS of $0.65 (beat by 3.2%) and revenue of $337.2M (beat by 13.2%), but sharply lowered full-year 2026 guidance: same-club sales growth cut to ~1% from 4-5%, adjusted net income now expected to decline ~2% vs prior +4-5%, and the planned Black Card price increase was paused. The weaker outlook dwarfs the quarterly beat and signals slowing membership growth.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $337.2M (+21.9% YoY), GAAP EPS $0.65 vs $0.50 YoY
- Adjusted EPS $0.74 vs $0.59 YoY, Adjusted EBITDA $139.9M vs $117.0M
- System-wide same-club sales growth slowed to 3.5% in Q1, guided to ~1% for full year 2026 (prior 4-5%)
- Full-year 2026 revenue growth guidance lowered to ~7% (prior ~9%), adjusted net income guided to decline ~2% (prior +4-5%)
- Paused planned national Black Card price increase pending broader pricing review
- Q1 beat driven partly by 123% surge in equipment segment revenue, which may not be recurring
Financial Impact
Guidance cut will likely outweigh Q1 beat. Revenue guidance lowered by $30M+ and adjusted net income turned negative vs prior positive guidance.
Risk Factors
- Further membership growth deceleration if price increases are delayed
- Inability to stabilize same-club sales growth in the low single digits
- Potential for additional guidance cuts if consumer spending weakens
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001637207-26-000028 |
| Document: plnt-20260507.htm | 0001637207-26-000028 |
| Document: 0001637207-26-000028-index-headers.html | 0001637207-26-000028 |
| Document: 0001637207-26-000028-index.html | 0001637207-26-000028 |
| Document: 0001637207-26-000028.txt | 0001637207-26-000028 |
| 8-K Data (Synthetic) | 0001637207-26-000028 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 5w ago | Press Release | $53.29 $40.72 | ▲ +23.59% | ▲ +23.73% | $42.25 (+20.72%) |
Aug 11, 2026 7w ago | Insider Buy | $48.26 $49.98 | ▲ +3.56% | ▲ +5.46% | $42.25 (−12.45%) |
Aug 3, 2026 8w ago | Press Release | $56.23 $51.60 | ▲ +8.23% | ▲ +9.47% | $42.25 (+24.86%) |
Jul 30, 2026 9w ago | Press Release | $55.98 $51.70 | ▲ +7.65% | ▲ +11.61% | $42.25 (+24.53%) |
Jul 22, 2026 10w ago | Press Release | $54.05 $53.95 | ▲ +0.18% | ▲ +3.08% | $42.25 (+21.83%) |
Jul 15, 2026 11w ago | Press Release | $52.88 $49.10 | ▲ +7.15% | ▲ +10.77% | $42.25 (+20.10%) |
May 8, 2026 21w ago | Insider Cluster | $45.84 $50.68 | ▲ +10.57% | ▲ +10.55% | $42.25 (−7.82%) |
May 7, 2026 21w ago | 8-K | $43.12 $51.53 | ▼ −19.52% | ▼ −16.38% | $42.25 (+2.01%) |
Mar 25, 2026 27w ago | DEFA14A | $75.11 $69.35 | ▼ −7.67% | ▼ −18.33% | $42.25 (−43.75%) |
US Market Status
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