Shares of Planet Fitness and Fresenius Medical Care declined following earnings reports that featured disappointing forward guidance despite some positive quarterly metrics.

Planet Fitness reported higher quarterly profit and revenue but provided earnings guidance that missed analyst expectations. The gym chain said it expects adjusted earnings per share to grow between 9% and 10% in 2026, falling below Wall Street forecasts.

Separately, Fresenius Medical Care shares dropped after the German dialysis specialist issued underwhelming guidance for the coming year. The company forecast relatively flat revenue and adjusted earnings amid ongoing regulatory challenges in its operating environment.

Both companies' stock declines reflect investor disappointment with management's conservative outlook despite recent operational improvements. The market reaction underscores how forward-looking guidance often carries more weight with investors than historical performance metrics.

The earnings reports highlight ongoing challenges facing companies in both the fitness and healthcare sectors as they navigate changing market conditions and regulatory environments.