Planet Fitness Inc (NYSE:PLNT) reported fourth-quarter fiscal 2023 sales growth of 1.4% year-over-year to $285.1 million, marginally beating the consensus of $285.04 million.
System-wide same-store sales increased 7.7%. Revenue from the Franchise segment rose 13.9% Y/Y to $98.2 million, the Corporate-owned stores climbed 15.9% to $116.4 million, and Equipment declined 25.5% Y/Y to $70.4 million.
Total operating costs and expenses decreased 1.45% Y/Y to $213.73 million. The operating margin was 25%, up 214 bps YoY, and operating income for the quarter rose 10.8% to $71.36 million.
Adjusted EBITDA increased 7.8% Y/Y to $114.33 million, and margin expanded 240 bps to 40.1%. Adjusted EPS was $0.60, beating the consensus estimate of $0.58.
Planet Fitness opened 77 new stores system-wide during the period, bringing the system-wide total stores to 2,575 as of December 31, …
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