A person works out at Planet Fitness as they re-open at 25 percent capacity in Boston's Dorchester on Feb. 1, 2021.
Planet Fitness shares surged double-digits after beating expectations on both lines for the third quarter and raising its outlook for the year.
Earnings per share: 59 cents vs. 55 cents59 cents vs. 55 cents Revenue: $277.6 million vs. $268.2.
"We're adjusting our store-level return model to further improve the attractiveness of opening and operating Planet Fitness stores in a new macro-environment," Benson said.
"To invest in new store growth, improve the store returns of those new stores."
Persons:
Craig Benson, Chris Rondeau, Rondeau, Benson, Tom Fitzgerald, Fitzgerald
Organizations:
Fitness, Planet Fitness, Wall Street, Revenue, Interim
Locations:
Boston's Dorchester