Planet Fitness Beats Estimates, Shares Up 4%

Planet Fitness Inc PLNT released its third quarter results today after the market closed.

• Planet Fitness reports Q3 EPS $0.16, beats by $0.03
• Revenues $87 million, beats by $9.2 million
• Comps rose by 10 percent
• Planet Fitness is considering a one-time special dividend of up to $280 million
• The company sees FY 2016 Adjusted EPS in the $0.66-$0.67 range with Revenues expected to be between $373-$378 million

"A growing number of casual and first time gym users are joining Planet Fitness. The combination of our affordable, non-intimidating fitness offering and increased national and local advertising spend, is fueling greater brand awareness in all markets and membership growth across the store base," said CEO Christopher Rondeau.

Shares were up about 3.3 percent after hours.