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Planet Fitness Beat Expectations, Raises FY 2016 Revenue Guidance

Planet Fitness Inc's (NASDAQ: PLNT) EPS in Q2 were $0.17 versus estimates of $0.14 and revenues of $91.5 million versus estimates of $85.909 million. System-wide same-store sales increased 7.6 percent. The company also said it open 36 new franchise location during Q2.

CEO Christopher Rondeau said, "We continue to successfully attract new members to our affordable, non-intimidating fitness offering, including a large percentage of first time gym users. Membership growth at our legacy stores as well as our newly opened locations are fueling strong gains in our high margin franchise segment."

The company raised FY 2016 guidance to $366 million to $372 million, from $360 million to $370 million. The company didn't comment on EPS for FY 2016, however; previous guidance issued back in Q1 expected EPS of $0.60 to $0.63.

Shares of Planet Fitness traded up 1.3 percent in the after-hours session.

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