Planet Fitness Inc. recently announced an increase in its earnings for the first quarter compared to last year's figures. The company also exceeded the projected Street estimates, a metric compiled by numerous analysts for estimating financial performance.
In the most recent quarter, their earnings were reported at $34.309 million, translating to $0.39 per share. This is a significant jump from last year's first quarter where the earnings were $22.705 million, equating to $0.27 per share.
When special items are excluded, Planet Fitness Inc. reported an adjusted earnings of $47.277 million or $0.53 per share for the period in review. This topped most analysts' average expectations, who had pegged the company's earnings at $0.5 per share. It's standard that these estimates routinely exclude any special items.
There's also notable progress in the company's quarter revenue, rising by 11.6% to $248.017 million from last year’s $222.225 million.
In summary, Planet Fitness Inc.'s first-quarter performances reported through GAAP (Generally Accepted Accounting Principles) show earnings at $34.309 million compared to $22.705 million in the previous year. Earnings per share stand at $0.39 and $0.27 for recent and last year's quarter respectively. The company also reports an increase in revenue from $222.225 million the previous year to $248.017 million now.