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Planet Fitness swings to loss in Q2

Planet Fitness Inc. said its normalized net income for the second quarter was a loss of 1 cents per share, compared with the S&P Capital IQ consensus estimate of 15 cents per share.

The per-share result swung to a loss from the prior-year profit of 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $515,250, compared with income of $7.4 million in the prior-year period.

The normalized profit margin dropped to negative 0.6% from 9.4% in the year-earlier period.

Total revenue grew 15.9% on an annual basis to $91.5 million from $79.0 million, and total operating expenses rose 5.6% from the prior-year period to $63.6 million from $60.3 million.

Reported net income totaled $4.0 million, or 11 cents per share, compared to a loss of $8.4 million, or a loss of 23 cents per share, in the year-earlier period.