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Planet Fitness swings to loss in Q3

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Planet Fitness swings to loss in Q3

Planet Fitness Inc. said its third-quarter normalized net income was a loss of $2.8 million, compared with income of $5.1 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 4.0% from 8.0% in the year-earlier period.

Total revenue rose 8.4% on an annual basis to $68.8 million from $63.5 million, and total operating expenses increased 18.1% year over year to $58.5 million from $49.5 million.

Reported net income fell 45.9% from the prior-year period to $4.4 million, or 4 cents per share, from $8.1 million.