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Strategies & Market Trends : The New Economy and its Winners

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From: Bill Harmond

10/26/2016 6:35:48 PM

of 57684

Planet Fitness good report. $10 membership dues...

6-Oct-16 16:10 ET

In Play

Planet Fitness beats by $0.02, beats on revs; raises FY16 estimates (20.32 +0.74) :Reports Q3 (Sep) earnings of $0.16 per share, $0.02 better than the Capital IQ Consensus of $0.14; revenues rose 26.5% year/year to $87 mln vs the $79.32 mln Capital IQ Consensus. System-wide same store sales increased 10.0% compared to the prior year periodCo issues guidance for FY16, sees EPS of $0.66-0.67, excluding non-recurring items, vs. $0.66 Capital IQ Consensus Estimate; sees FY16 revs of $373-378 mln vs. $371.68 mln Capital IQ Consensus Estimate; high single digit comps. The Company is seeking to amend its senior secured credit facilities to allow for, among other things, incremental term loan borrowings of approximately $230 million. In connection with this potential amendment, the Company is considering paying a special cash dividend to holders of our Class A common stock and other equivalent payments, including payments to unit holders of Pla-Fit Holdings, LLC, of up to ~$280 million in the aggregate with the proceeds from the additional borrowings and available cash.

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