Planet Fitness, Inc ( PLNT ). shares are trading higher on Thursday.

The company reported third-quarter adjusted earnings per share of 64 cents beating the street view of 58 cents. Quarterly sales of $292.25 million (+5.3%) beat the analyst consensus estimate of $285.87 million.

System-wide same-club sales (formerly same-store sales) rose 4.3%, while system-wide sales grew to $1.2 billion, up from $1.1 billion last year.

Adjusted EBITDA increased by $11.2 million, rising to $123.1 million from $111.9 million in the same period last year.

During the period, 21 new Planet Fitness ( PLNT ) clubs were opened, comprising 12 franchisee-owned and 9 corporate-owned, bringing the total to 2,637 clubs as of September 30.

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“During the quarter, I had the opportunity to address franchisees, club employees, and our team members at our franchisee conference,” said Colleen Keating, Chief Executive Officer. “The enthusiasm the franchisees showed was highly encouraging.”

The company highlighted reaching a significant milestone with a $15 price increase for its Classic Card membership for new members, marking the first such increase in over 25 years, and emphasizing the continued value offered to members.

The company exited the quarter with cash and marketable securities of $530.7 million, with inventory worth $4.858 billion. Long-term debt, net of current maturities as of the quarter end, totaled $2.152 billion.

Outlook: For the year ending December 31, the company is reiterating its expectations of approximately 120 to 130 new equipment placements in franchisee-owned locations and 140 to 150 system-wide new club openings.

The company now expects revenue to increase in the 8% to 9% range (previously 4% to 6%), adjusted EBITDA to rise by 8% to 9% (previously 7% to 9%), and adjusted net income per diluted share to increase by 11% to 12% (previously 7% to 9%).

Price Action: PLNT shares are trading higher by 12.2% to $94.99 at last check Thursday.

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