Planet Fitness (PLNT) Stock Drops 30% After Guidance Cut

Planet Fitness (PLNT) shares fell more than 30% following the company’s announcement of reduced guidance. Revenue growth for the first fiscal quarter was reported at 21.9%, with same-club sales rising 3.5%. However, the company revised its revenue growth outlook from 9% to 7% and reduced same-club sales projections from 4-5% to just 1%. Adjusted net income is now expected to decrease by 2%, diverging from a previous forecast of a 4-5% increase, signaling significant challenges in member growth and marketing effectiveness.

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