Planet Fitness Trims 2026 Growth Forecast After Q1 Revenue of $337.2M, Membership Slowdown
Planet Fitness posted Q1 revenue of $337.2 million, up 21.9%, with 21.5 million members and same-club sales growth of 3.5% as adjusted EPS hit $0.74. It slashed its 2026 full-year guidance, cutting same-club sales growth to about 1%, revenue growth to 7% and adjusted EBITDA growth to 6%.
1. Q1 Financial and Membership Results
Planet Fitness closed the first quarter with 21.5 million members across 2,909 locations, generating $337.2 million in revenue, a 21.9% year-over-year increase, while same-club sales rose 3.5% and adjusted EPS reached $0.74, beating prior quarterly expectations.
2. Full-Year Guidance Revisions
The company narrowed its 2026 outlook, reducing expected same-club sales growth to roughly 1% from 4–5%, trimming revenue growth to about 7% from 9%, cutting adjusted EBITDA growth to 6% from 10%, and forecasting a 2% net income decline instead of the prior 4–5% gain.
3. Headwinds and Strategic Response
Management cited weak messaging effectiveness, intensified competition, adverse weather and macroeconomic pressures during its peak sign-up window, prompting a pause on planned Black Card price hikes and a series of marketing adjustments to broaden its appeal.
4. Share Repurchases and Balance Sheet
During Q1, Planet Fitness repurchased $50 million of Class A common shares, retiring 613,725 shares, and ended March 31 with $652 million in cash and marketable securities to support ongoing operations and strategic initiatives.