Shares of gym chain Planet Fitness (NYSE: PLNT) jumped on Thursday after the company reported financial results for the third quarter of 2024. As of 3:30 p.m. EST, Planet Fitness stock was up 11%, but it had been up by even more earlier in the day and had touched all-time highs.

Planet Fitness Inc.’s stock rose 6% in premarket trading Thursday after the gym operator’s adjusted profit and revenue outperformed analyst estimates. The company said its “solid” results for the quarter included its first membership-fee price increase in more than 25 years.

As of Sept. 30, 2024, Planet Fitness had cash and cash equivalents of $298.8 million compared with $275.8 million as of Dec. 31, 2023. Long-term debt (net of current maturities) was $2.15 billion, up from $1.96 billion as of Dec. 31, 2023.

Shares of Planet Fitness bulked up after the company's third-quarter earnings beat analyst estimates. The gym operator’s stock rose 11% Thursday, and is on track for its highest close since Feb. 2022.

Planet Fitness (PLNT) reports revenue growth and milestone in price increase. Adjusted EBITDA and EPS surpass expectations.

Fintel reports that on November 8, 2024, Macquarie downgraded their outlook for Planet Fitness (NYSE:PLNT) from Outperform to Neutral. Analyst Price Forecast Suggests 3.98% Downside As of October 22,