Planet Fitness, Inc. reported earnings were down slightly in the second quarter as total sales grew 7.1 percent and same-club sales improved 1.7 percent. The fitness chain said it continues to recover from significantly lower-than-expected member sign-ups at the start of the year that previously caused it to sharply lower its annual outlook. Planet Fitness maintained its sales guidance for the year.

Total revenue in the quarter of $365.2 million topped analysts’ consensus estimate of $356.6 million. Adjusted EPS of 88 cents exceeded the average estimate of 85 cents.

Second Quarter Fiscal 2026 Highlights 

  • Total revenue increased from the prior year period by 7.1 percent to $365.2 million.
  • System-wide same club sales increased 1.7 percent.
  • System-wide sales increased $66.6 million to $1.4 billion.
  • Net income attributable to Planet Fitness, Inc. was $67.1 million, or $0.87 per diluted share, compared to $58.0 million, or $0.69 per diluted share, in the prior year period.
  • Net income increased $9.1 million to $67.4 million, compared to $58.3 million in the prior year period.
  • Adjusted net income decreased $4.1 million to $68.4 million, or $0.88 per diluted share, compared to $72.6 million, or 86 cents per diluted share, in the prior year period.
  • Adjusted EBITDA increased $5.1 million to $152.8 million from $147.6 million in the prior year period.
  • 23 new Planet Fitness clubs were opened system-wide during the period, which included 21 franchisee-owned and 2 corporate-owned clubs, bringing system-wide total clubs to 2,930 as of June 30, 2026.
  • Repurchased and retired approximately 4.0 million shares of Class A common stock for $200.0 million.
  • Cash and marketable securities of $544.4 million, which includes cash and cash equivalents of $298.3 million, restricted cash of $72.9 million and marketable securities of $173.2 million as of June 30, 2026.

“During the second quarter, we made important progress advancing our strategies to reignite sustainable member growth,” said Colleen Keating, chief executive officer. “We are moving quickly with several actions to clearly communicate our differentiated welcoming, non-intimidating environment in the immediate term, while we work in parallel to develop a new marketing campaign that sets the brand up for success with a broader audience in the coming months. At the same time, we initiated and expanded tests around pricing, member experience, and retention, and look forward to applying the learnings to enhance our future performance. We concluded the second quarter with the appointment of Sudhanshu Priyadarshi as chief financial officer and president, International. We are thrilled to have someone of Sudhanshu’s caliber on the team with his deep global leadership experience and I look forward to partnering with him to deliver meaningful value for our members, franchisees, and shareholders.”

Operating Results for the Second Quarter Ended June 30, 2026
For the second quarter of 2026, total revenue increased $24.3 million or 7.1 percent to $365.2 million from $340.9 million in the prior year period. By segment:

  • Franchise segment revenue increased $16.1 million or 13.5 percent to $135.8 million from $119.7 million in the prior year period. This increase was primarily attributable to a $10.1 million increase in National Advertising Fund (“NAF”) revenue from a 1 percent rate increase to NAF contributions from 2 percent to 3 percent for 2026. Royalty revenue also increased $4.7 million, of which $1.7 million was attributable to a franchise same club sales increase of 1.7 percent, $2.5 million was attributable to new clubs opened since April 1, 2025 before moving into the same club sales base and $0.5 million was from higher royalties on annual fees. Additionally, there was a $1.3 million increase in franchise and other fees.
  • Corporate-owned clubs segment revenue increased $4.9 million or 3.5 percent to $143.9 million from $139.0 million in the prior year period. This increase was primarily attributable to $5.0 million from new clubs opened since April 1, 2025 before moving into the same club sales base and $4.8 million from the corporate-owned clubs included in the same club sales base, including $3.0 million attributable to a same club sales increase of 1.7 percent and $1.6 million attributable to other fees. This increase was partially offset by $4.9 million of lower revenue attributable to the eight clubs located in California that the company sold to a franchisee in August 2025.
  • Equipment segment revenue increased $3.4 million or 4.1 percent to $85.6 million from $82.2 million in the prior year period. This increase was primarily attributable to $1.7 million of higher revenue from equipment sales to new franchisee-owned clubs and $1.6 million of higher revenue from equipment sales to existing franchisee-owned clubs. In the three months ended June 30, 2026, we had equipment sales to 21 new franchisee-owned clubs compared to 19 in the same period last year.

Segment Adjusted EBITDA was as Follows:

  • Franchise Segment Adjusted EBITDA increased $5.2 million or 6.1 percent to $91.7 million from $86.5 million in the prior year period. This increase was primarily attributable to higher NAF and franchise revenue of $10.1 million and $6.0 million, respectively, as described above, partially offset by $10.1 million of higher NAF expense and $0.4 million of higher selling, general and administrative expense.
  • Corporate-owned clubs Segment Adjusted EBITDA increased $0.9 million or 1.6 percent to $57.5 million from $56.6 million in the prior year period. This increase was primarily attributable to $1.6 million from clubs included in the same club sales base and $0.4 million of lower selling, general and administrative expenses primarily from the closure of the company’s Florida Corporate Support Center in the prior year period, partially offset by $1.3 million of lower adjusted EBITDA attributable to the eight clubs located in California that the company sold to a franchisee in August 2025.
  • Equipment Segment Adjusted EBITDA decreased $2.1 million or 8.0 percent to $24.3 million from $26.4 million in the prior year period. This decrease was primarily attributable to the timing of replacement equipment discounts, partially offset by higher equipment sales to new and existing franchisee-owned clubs.

2026 Outlook
For the year ending December 31, 2026, the company is reiterating the following expectations:

  • System-wide same club sales growth of approximately 1 percent
  • Revenue to increase approximately 7 percent
  • Adjusted EBITDA to increase approximately 6 percent
  • New equipment placements of approximately 150 to 160 in franchisee-owned locations
  • System-wide new club openings of approximately 180 to 190 locations
  • Capital expenditures to increase approximately 10 percent to 15 percent
  • Depreciation and amortization to increase approximately 10 percent

The Company Also Updated the Following Expectations:

  • Adjusted net income per share, diluted to increase approximately 6 percent (previously approximately 4 percent), based on adjusted diluted weighted-average shares outstanding of approximately 77.0 million (previously approximately 79.0 million), inclusive of the shares repurchased through the second quarter of 2026
  • Net interest expense to be approximately $115.0 million (previously approximately $111.0 million)
  • Adjusted net income to decrease approximately 3 percent (previously approximately 2 percent)

Image courtesy Planet Fitness