Equity Profile

PLNT

PLANET FITNESS INC Class A

Consumer DiscretionaryLeisure Facilities$4.0B

Aug5Wed

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Planet Fitness Inc. (PLNT) operates a chain of fitness centers, focusing on providing affordable gym memberships and a welcoming environment for all fitness levels....

Key Metrics to Watch

Membership Growth

This metric indicates how well Planet Fitness is attracting and retaining customers, which is crucial for revenue growth.

Expected increase of 10% YoY

Average Revenue Per Member (ARPM)

ARPM reflects the company's ability to monetize its membership base effectively, impacting overall profitability.

$24.50

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

PLNT Q2-2026 Earnings Preview

Context

Company Snapshot

Planet Fitness Inc. (PLNT) operates a chain of fitness centers, focusing on providing affordable gym memberships and a welcoming environment for all fitness levels. As a player in the consumer discretionary sector, it benefits from trends in health and wellness, particularly as more people prioritize fitness and healthy lifestyles.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+8.94%

Avg Stock Reaction

-3.36%

Last Quarter Recap

In Q1-2026, Planet Fitness reported an EPS of $0.74, surpassing estimates by 17.27%. However, the stock dropped 31.19% the following day, indicating market concerns despite the positive earnings surprise.

Management Promises & Guidance

Focus on expanding gym locations across the U.S.
Commitment to enhancing member experience and retention strategies
Plans to introduce new fitness programs and services

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, especially after the strong EPS surprise last quarter. However, the significant stock drop suggests that the market is wary of potential challenges.

Bull Case

If membership growth and ARPM exceed expectations, it could signal strong demand and operational efficiency, leading to a positive stock reaction.

Bear Case

Conversely, if new gym openings fall short or if there are signs of slowing membership growth, it could raise concerns about future profitability and lead to further declines in stock price.

Key Metrics to Watch

Membership Growth

Expected increase of 10% YoY

This metric indicates how well Planet Fitness is attracting and retaining customers, which is crucial for revenue growth.

Average Revenue Per Member (ARPM)

$24.50

ARPM reflects the company's ability to monetize its membership base effectively, impacting overall profitability.

New Gym Openings

10 new gyms

The number of new locations opened can signal expansion and growth potential, which are vital for long-term success.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected membership growth rate for the upcoming quarter?

Membership growth is a key driver of revenue, and any slowdown could signal broader issues in attracting and retaining customers.

How many new gyms does management plan to open this year?

New gym openings are crucial for expansion and revenue growth, and any changes to this plan could impact investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for membership growth as fitness trends continue to rise post-pandemic, especially among younger demographics.

Supporting Evidence

Options pricing suggests a larger move than historical averages, indicating heightened expectations.

Recent trends in gym attendance and health consciousness suggest a strong rebound in membership.

The company's strategic focus on enhancing member experience may lead to improved retention rates.

Key Risk

If membership growth comes in below 5%, it could challenge the optimistic outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on the company's ability to maintain strong membership growth and successful expansion plans.

Bull Confirmed If

Membership growth of 10% or higher, coupled with ARPM exceeding $24.50.

Bear Confirmed If

Membership growth below 5% or fewer than 5 new gyms opened this year.

Pre-Earnings Positioning

Options Market

Implied Move

±14.03%

Historical Avg

±10.8%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±14.0% while PLNT has averaged ±10.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

116.8%

Calls (40K)P/C Ratio: 0.65Puts (15K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Planet Fitness beats expectations, history suggests a potential stock increase of around 10% based on past performance.

In-Line / Cautious

If results are in line but management expresses caution, the stock may experience a muted reaction as investors digest the commentary.

Miss

Should the company miss expectations, history indicates a potential decline of about 4.57%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on membership growth and retention strategies.
2Details on new gym openings and expansion plans.
3Any commentary on competitive pressures in the fitness industry.
4Insights into average revenue per member trends.
5Management's outlook on consumer spending in the fitness sector.

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Company Snapshot

Planet Fitness Inc. (PLNT) operates a chain of fitness centers, focusing on providing affordable gym memberships and a welcoming environment for all fitness levels....

Key Metrics to Watch

Membership Growth

This metric indicates how well Planet Fitness is attracting and retaining customers, which is crucial for revenue growth.

Expected increase of 10% YoY

Average Revenue Per Member (ARPM)

ARPM reflects the company's ability to monetize its membership base effectively, impacting overall profitability.

$24.50

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

PLNT Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+8.94%

Avg Stock Reaction

-3.36%

Last Quarter Recap

Management Promises & Guidance

Focus on expanding gym locations across the U.S.
Commitment to enhancing member experience and retention strategies
Plans to introduce new fitness programs and services

Expectations

Wall Street Expectations

Bull Case

If membership growth and ARPM exceed expectations, it could signal strong demand and operational efficiency, leading to a positive stock reaction.

Bear Case

Conversely, if new gym openings fall short or if there are signs of slowing membership growth, it could raise concerns about future profitability and lead to further declines in stock price.

Key Metrics to Watch

Membership Growth

Expected increase of 10% YoY

This metric indicates how well Planet Fitness is attracting and retaining customers, which is crucial for revenue growth.

Average Revenue Per Member (ARPM)

$24.50

ARPM reflects the company's ability to monetize its membership base effectively, impacting overall profitability.

New Gym Openings

10 new gyms

The number of new locations opened can signal expansion and growth potential, which are vital for long-term success.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected membership growth rate for the upcoming quarter?

Membership growth is a key driver of revenue, and any slowdown could signal broader issues in attracting and retaining customers.

How many new gyms does management plan to open this year?

New gym openings are crucial for expansion and revenue growth, and any changes to this plan could impact investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for membership growth as fitness trends continue to rise post-pandemic, especially among younger demographics.

Supporting Evidence

Options pricing suggests a larger move than historical averages, indicating heightened expectations.

Recent trends in gym attendance and health consciousness suggest a strong rebound in membership.

The company's strategic focus on enhancing member experience may lead to improved retention rates.

Key Risk

If membership growth comes in below 5%, it could challenge the optimistic outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on the company's ability to maintain strong membership growth and successful expansion plans.

Bull Confirmed If

Membership growth of 10% or higher, coupled with ARPM exceeding $24.50.

Bear Confirmed If

Membership growth below 5% or fewer than 5 new gyms opened this year.

Pre-Earnings Positioning

Options Market

Implied Move

±14.03%

Historical Avg

±10.8%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±14.0% while PLNT has averaged ±10.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

116.8%

Calls (40K)P/C Ratio: 0.65Puts (15K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Planet Fitness beats expectations, history suggests a potential stock increase of around 10% based on past performance.

In-Line / Cautious

If results are in line but management expresses caution, the stock may experience a muted reaction as investors digest the commentary.

Miss

Should the company miss expectations, history indicates a potential decline of about 4.57%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on membership growth and retention strategies.
2Details on new gym openings and expansion plans.
3Any commentary on competitive pressures in the fitness industry.
4Insights into average revenue per member trends.
5Management's outlook on consumer spending in the fitness sector.