It’s that time of year again.
Every year, Americans (about 90% of them, according to Johns Hopkins Medicine) make their New Year’s resolution to lose weight, diet, and exercise more, which usually ends in passing on the resolution until next year.
It’s a seasonal phenomenon that many of us are all too familiar with.
This year won’t be much different, as we head into the season between our ritualistic Thanksgiving “stuffing,” holiday parties, and the December holidays.
It’s when we start feeling “fat” and worry about our added “baggage” that we promise ourselves that next year will be different…
It’s why we often see fitness stocks push higher around the end of the year.
Look at Planet Fitness (PLNT), for example.
Over the last few years, the stock gets a respectable boost on demand. This year seems to be no different. In fact, the stock is up $9.51 at the moment on increased demand and earnings.
In its most recent quarter, the company saw adjusted profit of 25 cents a share, which was far better than forecasts for 18 cents. Sales of $1254.3 million was also better than estimates for $135 million.
“We are emerging from the pandemic stronger than ever, having achieved the highest sequential net member growth of any third quarter in company history, with membership levels reaching 97% of our all-time peak,” said CEO Christopher Rondeau, as quoted by Barron’s.
The company is also forecasting full-year revenue of between $570 million and $580 million, which is up nicely from a prior range of $530 million to $540 million. PLNT also expects adjusted EPS of between 75 cents and 80 cents from earlier forecasts for 65 to 70 cents.
Between the pandemic recovery, and the holiday season, PLNT may be setting up for another solid quarter of growth.
The post This May Be One of the Top Gym Stocks to Own Right Now appeared first on Morningology.
