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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.

27 days ago

Version History

3 additional sources confirmed this story

Version 327 days ago

What changed: Added details regarding KeyBanc's price target reduction and the company's downward revision of revenue growth guidance from 9% to 7%.

Version 228 days ago

What changed: Updated the stock decline magnitude to 31% and clarified that the outlook cut applies to full-year revenue and profit.

Version 128 days ago

What changed: Added CEO Colleen Keating's attribution of the slowdown to internal and external headwinds and identified the New Year period as the peak sign-up season.

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.