=Life Time Group Holdings (LTH) reported earnings on Tue 25 Jul 23 (b/o)

 

Life Time Reports Second Quarter Fiscal 2023 Financial Results

PR Newswire

CHANHASSEN, Minn., July 25, 2023

   -- Second quarter revenue increased 21.8% to $561.7 million from $461.3 
      million in the second quarter of 2022. 
 
   -- Net income increased to $17.0 million from a net loss of $2.3 million in 
      the second quarter of 2022. 
 
   -- Adjusted EBITDA increased 115.5% to $136.0 million from $63.1 million in 
      the second quarter of 2022. 
 
   -- The Company provides full year fiscal 2023 net income guidance range of 
      $75-$83 million and increases full year fiscal 2023 Adjusted EBITDA 
      guidance range to $510-$520 million. 
 
   -- On July 24, Fitch Ratings assigned the Company an issuer credit rating of 
      B+ (stable). The Company is rated B by S&P and B- by Moody's. 

CHANHASSEN, Minn., July 25, 2023 /PRNewswire/ -- Life Time Group Holdings, Inc. ("Life Time," "we," "our," "us," or the "Company") (NYSE: LTH) today announced its financial results for the fiscal second quarter ended June 30, 2023.

Bahram Akradi, Founder, Chairman and CEO, stated: "Our strong quarter further validates that all of our strategies are working and contributing to our success. We added 26,000 memberships, grew revenue nearly 22% and once again raised our expectations for net income and Adjusted EBITDA for the full year. With continued focus on our balance sheet, we further lowered our leverage ratio and are actively pursuing an increasing number of asset-light growth opportunities. We entered the third quarter with great momentum as we are delivering extraordinary member experiences. Our Company is on a solid footing and well positioned for long-term success."