Boutique fitness studio franchisor Xponential Fitness (NYSE: XPOF) will be reporting earnings this Thursday after the bell. Here’s what to expect.

Xponential Fitness missed analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $76.21 million, flat year on year. It was a softer quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly and full-year EBITDA guidance missing analysts’ expectations significantly.

Is Xponential Fitness a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Xponential Fitness’s revenue to decline 5.8% year on year to $75.83 million, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.12 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Xponential Fitness has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Xponential Fitness’s peers in the leisure facilities segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Lucky Strike delivered year-on-year revenue growth of 12.3%, beating analysts’ expectations by 3.3%, and Live Nation reported revenues up 11.1%, falling short of estimates by 0.9%.

Read our full analysis of Lucky Strike’s results here and Live Nation’s results here.

The outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. While some of the leisure facilities stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 7% on average over the last month. Xponential Fitness is down 18.7% during the same time and is heading into earnings with an average analyst price target of $11.90 (compared to the current share price of $6.45).

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