Planet Fitness reported higher third-quarter revenue and adjusted EBITDA, but lower net income than a year earlier. The gym chain also announced a new $500 million share-repurchase authorization, a strategic review of its U.S. company-owned clubs and plans to enter Portugal through the acquisition of Be-Fit.
The quarter’s operating results show modest same-club sales growth alongside continued expansion: 33 clubs opened, bringing the global total to 2,962. The Portugal deal would add 25 clubs to the company’s international footprint.
Third-quarter results
- Revenue rose 9.0% to $360.0 million for the quarter ended September 30, 2026.
- Same-club sales increased 1.5% across the system. System-wide sales grew by $53.4 million to $1.3 billion.
- Net income attributable to Planet Fitness was $52.0 million, or $0.70 per diluted share, compared with $58.8 million, or $0.70 per share, a year earlier. The company separately reported net income of $52.2 million, down from $59.2 million.
- Adjusted net income fell to $61.9 million from $67.0 million, while adjusted diluted earnings per share rose to $0.83 from $0.80.
- Adjusted EBITDA increased to $146.2 million from $140.8 million. Chief Executive Colleen Keating said the adjusted EBITDA margin was about 41%.
- The company opened 33 clubs during the quarter: 25 owned by franchisees and eight corporate-owned. The system had 2,962 clubs at quarter-end.
- Planet Fitness had $515.0 million in cash and marketable securities at September 30, including $310.2 million in cash and cash equivalents, $72.8 million in restricted cash and $132.0 million in marketable securities.
Capital allocation and strategic moves
- Planet Fitness repurchased and retired about 1.0 million shares for $50.0 million during the quarter.
- It authorized a new $500 million share-repurchase program. The announcement did not specify a timetable for using the authorization.
- The company is conducting a strategic review of its domestic corporate-owned clubs. No outcome or transaction terms were provided.
- Planet Fitness plans to enter Portugal through the acquisition of Be-Fit, a profitable chain of 25 clubs, in the fourth quarter of 2026. The company described Portugal as its sixth international market and second in Europe. It plans to convert the clubs to the Planet Fitness brand and pursue efficiencies and future growth.
The disclosures point to a mixed earnings picture: revenue and adjusted EBITDA grew, while reported and adjusted net income declined. The new buyback authorization gives the company additional capacity to repurchase shares, while the review of corporate-owned clubs and the Be-Fit acquisition mark separate changes to its domestic portfolio strategy and international reach.