EL7.AI
StocksMediumUpdated×3•Originally published 7 May 2026•Updated 8 May 2026•
1 min read

Planet Fitness Shares Plunge 31% on Lowered Outlook Despite Q1 Earnings Beat

Key Facts

1Planet Fitness reported earnings per share of $0.74, surpassing analyst estimates of $0.63.
2Shares fell more than 30% after the company cut its 2026 growth projections and canceled a planned price hike.
3The company posted revenues of $337.20 million, a 21.9% increase compared to the same period last year.

Planet Fitness shares plunged 31% despite reporting Q1 earnings per share of $0.74, beating analyst estimates. Market sentiment soured as the company reduced its annual revenue growth forecast to 7% from the previously estimated 9%. In response, KeyBanc lowered its price target for PLNT from $100.00 to $65.00 while maintaining an Overweight rating. CEO Colleen Keating cited internal and external headwinds for the slowdown, leading to the cancellation of a planned price hike. Investor concerns were further amplified by weak member recruitment during the peak New Year season, with the stock trading at $44.01 during the latest analyst update. Analysts remain focused on whether PLNT can regain growth momentum amidst these significant structural challenges.