Planet Fitness, Inc. PLNT reported impressive third-quarter 2022 results, with earnings and revenues surpassing the Zacks Consensus Estimate. The metrics increased on a year-over-year basis.Following the announcement, shares of the company increased 8.6% during trading hours on Nov 8. Positive investor sentiments were witnessed as the company forwarded better-than-expected guidance for 2022. Solid membership trends and lower cancellations (compared with pre-COVID levels) added to the positives.Earnings & Revenue DiscussionDuring the third quarter, the company reported adjusted earnings per share (EPS) of 42 cents, beating the Zacks Consensus Estimate of 39 cents. In the prior-year quarter, the company reported an adjusted EPS of 25 cents.Planet Fitness, Inc. Price, Consensus and EPS Surprise Planet Fitness, Inc. price-consensus-eps-surprise-chart | Planet Fitness, Inc. Quote Quarterly revenues of $244.4 million beat the consensus mark of $237 million. However, the top line surged 58.4% from the year-ago quarter’s levels, driven by solid performances in the Franchise, Corporate-owned Stores and Equipment segments. During the quarter under review, system-wide same-store sales increased 8.2% year over year compared with growth of 13.6% reported in the previous quarter.Total adjusted EBITDA at the end of the third quarter was $93.9 million compared with $61.7 million reported in the year-ago quarter.Segmental PerformanceDuring third-quarter 2022, Franchise segment revenues were $80.7 million, up 7.1% year over year. The upside was driven by a $2.8 million rise in franchise royalty revenues, a $0.7-MILLION gain in National Advertising Fund (NAF) revenues and a $1.7-MILLION surge in equipment placement revenues.EBITDA in the Franchise segment was $53.5 million compared with $52 million reported in the prior-year quarter.The Corporate-owned Stores segment’s third-quarter revenues amounted to $101.3 million compared with $43.9 million reported in the prior-year quarter. The increase can primarily be attributed to a rise in same-store sales and new store openings. The acquisition of 114 stores through the Sunshine Fitness buyout contributed $50.4 million to the segment’s revenues. The segment’s EBITDA totaled $40.4 million compared with $14.1 million reported in the prior-year quarter.In the Equipment segment, revenues totaled $62.3 million compared with $35 million reported in the prior-year quarter. The uptick was primarily driven by higher equipment sales to existing franchisee-owned stores. EBITDA in the Equipment segment was $15.8 million compared with $7.9 million reported in the prior-year quarter.Other Financial DetailsAs of Sep 30, 2022, cash and cash equivalents totaled $404.5 million compared with $383.5 million as of Jun 30, 2022. Long-term debt (net of current maturities) amounted to $1,982.2 million at the end of third-quarter 2022 compared with $1,985.7 million at the prior-quarter end.2022 OutlookFor 2022, the company continues to expect revenues to increase in the high-50 percent range year over year, up from the previous projection of a mid-50 percent range. Adjusted EBITDA for 2022 is estimated to rise approximately 60% year over year compared with the previous expectation of a high-50 percent range. Adjusted net income is anticipated at the low-100% range (over the 2021 levels) compared with the previous expectation of a low-90% range. The company anticipates adjusted EPS to increase in the mid-90% range year over year compared with the previous projection of a mid-80% range. The metrics are based on the assumption of potential impact from the Sunshine Fitness acquisition and that there is no significant impact of the COVID-19 pandemic.Zacks Rank & Stocks to ConsiderPlanet Fitness currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Some better-ranked stocks in the Consumer Discretionary sector are Marriott International, Inc. MAR, Crocs, Inc. CROX and Boyd Gaming Corporation BYD.Marriott currently carries a Zacks Rank #2 (Buy). MAR has a trailing four-quarter earnings surprise of 18.1%, on average. The stock has declined 8.7% in the past year.The Zacks Consensus Estimate for MAR’s current financial year sales and EPS indicates a surge of 47% and 104.7%, respectively, from the year-ago period’s reported levels.Crocs currently has a Zacks Rank #2. CROX has a long-term earnings growth rate of 15%. Shares of Crocs have plunged 53.6% in the past year.The Zacks Consensus Estimate for CROX’s 2022 sales and EPS indicates a rise of 51.5% and 23.7%, respectively, from the year-ago period’s levels.Boyd Gaming carries a Zacks Rank #2. BYD has a long-term earnings growth rate of 12.8%. The stock has declined 8.8% in the past year.The Zacks Consensus Estimate for BYD’s 2022 sales and EPS indicates growth of 4.4% and 11.7%, respectively, from the year-ago period’s reported levels. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Marriott International, Inc. (MAR): Free Stock Analysis Report Boyd Gaming Corporation (BYD): Free Stock Analysis Report Crocs, Inc. (CROX): Free Stock Analysis Report Planet Fitness, Inc. (PLNT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research