Planet Fitness matches profit expectations

Yahoo Finance anchors discuss Planet Fitness earnings.

Video Transcript

- Welcome back to "Yahoo Finance Live," everyone. It's time for Cut for Time, three stories, one minute each. This is the ticker edition. And we're going to start with this, Planet Fitness, PLNT. Let's take a look at it after they reported quarterly results before the bell, matching analysts' expectations for earnings per share, missing on revenue. CEO Chris Rondeau says that membership signups returned to prepandemic seasonality, with 300,000 net new members in Q2. I know I'm one of those retained members. I just can't figure out how to cancel my membership at this point.

- Well, they don't want you to stay because of that.

- It's buried somewhere online, Brad. Somewhere out there it is. But look, good quarter for Planet Fitness by and large, system-wide same store sales up 13.6%. There are a lot of other retailers who would love to see same store sales like that. Check, like, Macy's and Khol's.

- Yeah, but the stock is down, right?

- Stock is down.

- It's down pretty dramatically. It looks like with the earnings just in line with estimates, maybe people were waiting for more. And it looks like the revenue missed by a little bit. So even though the comps were higher, I see revenue of $224 million. The estimate was $232. So that seems to be what is at issue here. We're going to catch up with Chris Rondeau, what, later this week?

- He's going to be in studio.

- That's exciting.

- Yes.

- Maybe he can give us some form suggestions. I don't know.

- He'll make one of us do drop and do push ups.

- Well, I'm happy to, anything that could make me look closer to our very own Brian Cheung.