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Planet Fitness profit misses consensus by 86.0% in Q3

Planet Fitness Inc. said its normalized net income for the third quarter was 2 cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

The per-share result swung to a profit from the prior-year loss of 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $848,250, compared with a loss of $2.8 million in the prior-year period.

The normalized profit margin increased to 1.0% from negative 4.0% in the year-earlier period.

Total revenue climbed 26.4% on an annual basis to $87.0 million from $68.8 million, and total operating expenses increased year over year to $60.9 million from $58.5 million.

Reported net income declined 18.7% on an annual basis to $3.6 million, or 8 cents per share, from $4.4 million, or 4 cents per share.