Planet Fitness, Inc. PLNT reported dismal third-quarter 2020 results, wherein earnings and revenues missed the Zacks Consensus Estimate. Further, both the metrics declined sharply year over year due to the coronavirus pandemic. Following the results, shares of the company fell 4.8% during after-hour trading on Nov 5.Owing to the uncertainty tied to the crisis, the company has withdrawn 2020 guidance.Quarterly DetailsThe company reported adjusted earnings per share of 2 cents, missing the Zacks Consensus Estimate of 11 cents. In the prior-year quarter, the company had reported adjusted earnings per share of 36 cents.Quarterly revenues of $105.4 million lagged the consensus mark of $107 million. The top line also declined 36.8% from the year-ago quarter primarily due to the dismal performance across Franchise, Corporate-owned Stores and Equipment segments.Franchise revenues fell 10.4% year over year to $59.8 million. The Corporate-owned Stores segment’s revenues declined 30.6% year over year to $28.3 million. In the Equipment segment, revenues plunged 70.8% year over year to $17.3 million on account of lower equipment sales to new and existing franchisee-owned stores.Moreover, EBITDA in the Franchise segment declined 29.8% year over year to $3.11 million. The decline was primarily attributed to temporary shutdowns owing to COVID-19 and decline in membership levels. At the Corporate-owned stores segment, EBITDA fell 66% year over year to $5.7 million. EBITDA in the Equipment segment slumped 83.5% year over year to $2.3 million.Total adjusted EBITDA at the end of the third quarter deteriorated to $32 million from $65.7 million in the year-ago quarter.Planet Fitness, Inc. Price, Consensus and EPS Surprise Planet Fitness, Inc. price-consensus-eps-surprise-chart | Planet Fitness, Inc. QuoteOther Financial DetailsAs of Sep 30, 2020, cash and cash equivalents totaled $419.7 million compared with $436.3 million as of Dec 31, 2019. Long-term debt, net of current maturities, amounted to $1,679.2 million at the end of third-quarter 2020 compared with $1,687.5 million at 2019-end.Zacks Rank & Stocks to ConsiderPlanet Fitness currently has a Zacks Rank #3 (Hold).Some better-ranked stocks in the Consumer Discretionary sector are YETI Holdings, Inc. YETI, Monarch Casino & Resort, Inc. MCRI and Boyd Gaming Corporation BYD, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.YETI Holdings has a three-five-year earnings per share growth rate of 14.3%.Earnings for Monarch Casino and Boyd Gaming in 2021 are expected to soar 179.3% and 1,228.6%, respectively.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Boyd Gaming Corporation (BYD): Free Stock Analysis Report Monarch Casino Resort, Inc. (MCRI): Free Stock Analysis Report Planet Fitness, Inc. (PLNT): Free Stock Analysis Report YETI Holdings, Inc. (YETI): Free Stock Analysis Report To read this article on Zacks.com click here.