Planet FitnessNYSE: PLNT

Here is how Planet Fitness (PLNT) and Walt Disney (DIS) have performed compared to their sector so far this year.

Planet Fitness (PLNT) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Planet Fitness lost a bid in bankruptcy court to acquire Blink Holdings. U.K.-based private gym chain PureGym won its bid to acquire Blink and its assets, including 60 of its gyms in New York and New Jersey.

PLNT's third-quarter 2024 results are aided by new club openings and higher royalty revenues.

Sales are growing faster than expected, putting to rest the concerns of some investors.

Planet Fitness, Inc. has shown strong growth with Q3 revenues up 5.3% and adjusted EBITDA rising to $123.1 million, despite slower equipment sales. The company's franchise and subscription model remains robust, with 21 new stores opened in Q3, emphasizing the need for international expansion. Concerns about debt persist, with net debt-to-adjusted EBITDA leverage at 4.5X, but the company's increased guidance has triggered a stock rally.

Planet Fitness (PLNT) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.59 per share a year ago.

Increases 2024 revenue and Adjusted EBITDA outlook Initiated new $500 million share repurchase program upon $280 million share repurchase completion Appointed Jay Stasz as Chief Financial Officer, effective November 15, 2024 HAMPTON, N.H. , Nov. 7, 2024 /PRNewswire/ -- Today, Planet Fitness, Inc. (NYSE: PLNT) reported financial results for its third quarter ended September 30, 2024.

On Friday, in the closing hour of the deal's 48-hour challenge period, Planet Fitness submitted two competing bids to acquire Blink, a source close to the matter told The Post.