On Thursday, shares of Planet Fitness Inc. (NYSE:PLNT) were up by almost ten percent following the earnings report of the company that beat most analysts expectations. The company is known for its fitness center franchise across the United States. Planet Fitness shares have rallied by more than 50% over the past year as the S&P 500 index rose by 14%.
For the fourth quarter, Planet Fitness shares were up by around eight to nine percent during the after-hours trading.
Planet Fitness had earnings of $0.24 per share for the fourth quarter which is slightly higher than most analysts estimates of the company posting $0.23 in earnings while their fourth-quarter revenue came in at $134 million. This beat most analyst estimates of $131.12 million.
Planet Fitness’ revenue has grown by 15.1% from the same quarter last year to $134 million with their same-store sales rose by 11.6%. Planet Fitness Inc’s net attributable loss came in at $0.04 per diluted share to $2.5 million including the deferred tax assets of the company.
Planet Fitness took a hit of $17.2 million in charges brought by the massive overhaul in the U.S. tax code. During the same period, last year attributed net income of the company was at around $10.6 million or $0.18 per diluted share.
During the earnings release of the company, Planet Fitness announced that it had 1.7 million net new members ending the year 2017 with around 10.6 million members system-wide.
The company also has expanded their footprint internationally as well as domestically following 210 Planet Fitness locations being opened totaling their system-wide stores to a number of 1,518 by the end of the year.
In the coming years, Planet Fitness Inc is expected to show a growth of 23.60% with the growth of their earnings per share after five years at a rate of more than 12% including a 22.60% sales growth.