==Life Time (LTH): CFO Robert Houghton to resign, effective Dec 31

 

Life Time CFO Robert Houghton to resign, effective Dec 31 

• Co names Erik Weaver, SVP and Controller, to the additional position of interim CFO effective January 1, 2024.

Life Time reaffirms Q4 revenue and adjusted EBITDA guidance

• Co reaffirms guidance for Q4 (Dec), sees Q4 (Dec) revs of $555-565 mln vs. $559.15 mln FactSet Consensus. 
• Co reaffirms Q4 adjusted EBITDA guidance at $131-135 mln. 
• "We remain on track for a strong close to 2023 with average member visits and demand for our programming at an all-time high. Based on our expectations for continued growth and substantial asset light opportunities, we are pleased to re-affirm our 2023 guidance as we head into 2024. In addition, as shared previously, we expect to be free cash flow positive after all capital expenditures, including new club growth, by the middle of 2024. Our business and outlook remain strong."

Insider Trading : Fri 8/11/23

Notable purchases -- JANA adds to THS; notable sales -- CEO active in PRI

Buyers:

• ADV Chief Executive Officer bought 50,000 shares at $2.60 - $2.66 worth ~$133K.
• AKRO Director bought 25,000 shares at $41.8634 - $42.3525 worth ~$1.1 mln.
• AVDL Chief Executive Officer bought 10,000 shares at $12.86 - $13.50 worth ~$132K.
• EMBC Chief Executive Officer/President, SVP-CFO, and SVP-General Counsel/Head of Business Development bought a total of 14,325 shares at $21.54 - $21.81 worth ~$311K.
• EXFY 10% owner bought 609,159 shares at $4.07 - $5.98 worth ~$2.8 mln.
• LTH Chief Executive Officer/Founder and Chief Financial Officer bought 42,951 shares at $16.73 - $17.15 worth ~$725K.
• MODV 10% owner Coliseum Capital bought 435,893 shares at $34.13 - $37.00 worth ~$15.6 mln.
• ONEW Chief Executive Officer / 10% owner bought 10,000 shares at $26.29 - $26.50 worth ~$264K.
• ROG Directors (2) bought a total of 3,665 shares at $148.0598 - $150.04 worth ~$549K.
• THS 10% owner JANA Partners (Barry Rosenstein) discloses the purchase of 41,500 shares worth approx. $1.9 mln.
• VFC Director bought 40,000 shares at $19.055 - $19.10 worth ~$764K.

Sellers:

• BYD Vice President sold 11,431 shares at $67.35 - $67.45 worth ~$770K.
• CNXN SVP, CFO & Treasurer sold 7,500 shares at $51.21 - $54.41 worth ~$398K.
• EQC EVP, General Counsel & Secretary sold 50,000 shares at $19.23 - $19.30 worth ~$963K.
• LPG Director sold 65,000 shares at $28.27 - $29.00 worth ~$1.9 mln.
• PRI Chief Executive Officer sold 4,000 shares at ~$213.4672 worth ~$854K.
• RSG EVP, Chief Marketing Officer sold 2,712 shares at $148.6504 - $148.70 worth ~$403K.

=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."

Earnings this week : July 24 - 28, 23 (wk 30)

Monday (Jul 24)

• Morning:  BOH DPZ HOPE PHG
• Afternoon: AGYS AGNC ARE BRO CADE CDNS CATY CHX CLF CCK FFIV HSTM HXL IBTX LOGI MEDP NXGN NWE NXPI PKG RRC RGP RLI SSD TBI WHR WSFS

Tuesday (Jul 25)

• Morning: MMM ALK ACI HOUS ADM ARCC AWI ABG AUB AVY BKU BIIB GLW CTS DHR DOV DOW FELE GATX GEHC GE GM HRI HUBB IVZ IRDM KMB LW LTH MCO MSCI NEE NEP NUE NVR ONB PCAR PJT PII PHM RTX SASR ST SHW SFNC SITC SBSI SPOT TRU VZ XRX
• Afternoon:  GOOG ASH ATRC BANC BDN CALM CNI CB CSGP CR EGP WIRE ENVA EQT EEFT FCF HA HIW KALU LXFR MANH MTDR MMSI MSFT NEX PACW PRO RNR RNST ROIC RHI SNAP TDOC TENB TXN TRMK UMBF UHS VBTX VICR V WM WSBC

Wednesday (Jul 26)

• Morning:  AMG ALKS ALLE APH T ADP BXMT BA BOKF GIB CHKP CME KO CSTM EVR FI FTV GD GPI HCSG HES HLT LAD LIVN MNRO COOP NAVI EDU ODFL OMF OTIS OC PAG BPOP PRG PB DGX RCI RES RPM R SLGN SLAB SCL TMHC TEL TDY TMO TLRY TSEM TNL UNP UMC VIRT WNC
• Afternoon:  AEM AGI AIN ALGN AWK AMP NLY AM AR ACGL ASGN AGR CSL CLS CCS CHE CMG CHDN FIX CNMD CLB CVBF EBAY EW ESI EIG ENVX EQC EG EVTC FIBK FLEX FTAI GFL GL GSHD GGG HP ICLR IEX IMAX PI INVH LHX LRCX LSTR LC MAT MXL META MEOH MAA MC MOH MYRG NTGR NXT NOV ORLY OII CASH PTEN PEGA PDM PPC PLXS PTC QS RJF ROL SLM STX SEIC NOW STAG STC SUI NOVA TER TNET TROX TYL UDR URI VMI VICI VKTX VSTO WU WH

Thursday (Jul 27)

• Morning: AOS ABBV AGCO AEP AMT MT ARCH AMBP ATHM AVNT BCS BAX BSX BFH BMY BC CRS CARR CBZ CBRE CVE CNP CMS CNX CMCSA CROX CFR DTE EXP EME EXLS XPRO FSS FAF FBP FCFS FSV FCN GWW HEES HOG HCA HSY HTZ HON INMD IP ITGR IART KBR KDP KIM KEX LH LAZ TREE LII LECO LIN LKQ HZO MLM MAS MA MCD MDC MBLY NEOG NTCT NYCB NSC NOC NVCR OTLY OIS OPCH OSTK PPBI PATK BTU PNR PRFT PCG PDS PRCT RS RCL SPGI SAH LUV SRCL STM STRA FTI TECK TXT SHYF TSCO TW TPH TRS VLO VLY WAB WST WEX WTW XEL
• Afternoon:  ACHC AB ALSN AMH ABCB APPF ATR AJG AXNX AX BZH BJRI SAM BYD CP CWST CC CINF OFC COUR CUZ DECK DXCM DLR EMN EIX ENPH EQR ESS EXPO FHI FSLR F FBIN GLPI HIG PEAK HUBG HURN INTC JNPR KNSL KLAC LYV LPLA LTC MGRC MTH MTD MTX MHK MDLZ NATI OLN PEB PFSI PFG PFS ROKU SIMO SKX SKYW SNBR SSB SPSC SSNC SG TMUS TXRH SLCA X UCTT VRSN WY

 Friday (Jul 28)

• Morning:  AON ARCB AZN AVTR B BAH CNC GTLS CHTR CVX CHD CNHI CL DAN XOM FHB BEN GNTX IMO MOG.A NWL NMRK NVT PIPR POR PG SAIA SNY STEL STVN TROW TRP WPC WT

=== Life Time (LTH) reported earnings on Tue 25 Apr 23 (b/o)

 

 Life Time beats by $0.08, reports revs in-line; guides Q2 revs in-line; guides FY23 revs in-line; raises FY23 adjusted EBITDA

• Reports Q1 (Mar) earnings of $0.14 per share, $0.08 better than the S&P Capital IQ Consensus of $0.06; revenues rose 30.2% year/year to $510.9 mln vs the $507.83 mln S&P Capital IQ Consensus.
  • Net center memberships increased by approximately 39,000, which exceeded the approximately 25,000 increase in net center memberships during the first quarter of 2022. Total memberships, which includes our digital on-hold memberships, increased approximately 9% to 813,500. 
• Co issues in-line guidance for Q2, sees Q2 revs of $560-570 mln vs. $569.49 mln S&P Capital IQ Consensus. Sees Q2 adjusted EBITDA of $124-126 mln.
• Co issues in-line guidance for FY23, sees FY23 revs of $2.20-2.30 bln vs. $2.24 bln S&P Capital IQ Consensus. Raises full year fiscal 2023 Adjusted EBITDA guidance by $30 million to $470-$490 million.

Earnings this week : Apr 24 - 28, 23 (wk 17)

Monday (Apr 24)

• Morning:  BOH KO PHG
• Afternoon: AGNC ARE AMP NTB BRO CADE CDNS CNI CHX CLF CCK FRC HSTM HTLF HXL HOPE IBTX MEDP PKG PCH RRC SSD TENB AAN TBI WSBC WHR WSFS

Tuesday (Apr 25)

• Morning: MMM ABB ADM ARCC AWI ABG AUB BKU BIIB CNC CBU GLW DHR DOW FBP FCF FISV GATX GEHC GE GM GEO HAL HUBB IVZ JBLU KMB LH LKFN LTH MCD MCO MSCI NEE NEP NTRS NVS NVR ONB OMF PCAR PEP PII PHM RTX ST SHW SSTK SFNC SITC SBSI SPOT SCL THC TRU UBS UPS VZ XRX
• Afternoon:  GOOG AGR AZZ BXP BYD CMG CB CSGP EGP WIRE ENVA ENPH EQR HA HIW ILMN JBT JNPR MANH MTDR MSFT NEX OI PACW RNST ROIC LRN TX TXN TRMK UMBF UHS VBTX VICR V

Wednesday (Apr 26)

• Morning:  ALKS ALLE AMT APH ADP AVY BXMT BA BOKF BSX CVE GIB CME CSTM DOV ETR EVR EXTR FSV FTV GD GPI HES HLT HUM NSP IART MKTX MAS COOP NAVI NSC ODFL OTIS OC PAG BPOP PDS PRG PB RCI RES R SLGN SLAB SF TMHC TEL TECK TDY TMO TNL UBSI UMC VRT WNC WAB
• Afternoon:  TWOU ACHC AFL AGI ALGN AB AWK NLY AM AR ACGL ASGN AZPN AVB AXS BMRN CHRW CACI CP CLS CCS CHDN COLB FIX CNMD CLB CVBF EBAY EW ESI EPR EQT ETD EVTC FIBK FBIN FTAI GSHD GGG HELE HP ICLR IEX PI KALU KRC KLAC LSTR LC LXFR MAT MXL MMSI MTH META MEOH MAA MC MOH MYRG NTGR NVRO NOV ORLY OII CASH PTEN PEB PEGA PPC PXD PLXS PTC QS RJF RHI ROKU ROL SAFE SLM SGMO NOW SNBR SAVE SPSC STAG STC SUI NOVA TDOC TER TNET TROX TYL UDR UCTT URI WCN WM WSC WOLF WH

Thursday (Apr 27)

• Morning: AOS ABBV MO AAL AIT ARCH AMBP AZN B BAX BFH BMY BC CRS CARR CAT CBZ CBRE CNP CHD CMS CNX CMCSA CROX CTS CFR DPZ DTE LLY EME EXLS FIS FAF FCFS FCN THRM GWW HEES HOG HAS HSY HTZ HGV HON IP ITGR ICPT IPG IQV KDP KIM KEX LEA LII LECO LIN LKQ HZO MA MPW MRK MBLY NEM NOC OSIS OSTK PPBI PATK BTU PNR DGX RS ROK ROP SPGI SNY SNDR SIRI SWI SAH SO LUV SRCL STM STRA FTI TXT SHYF TSCO TW TPH TRS VLO VLY VC WST WEX WTW WNS XEL
• Afternoon:  ACCD ATVI AEM ALSN AYX AMZN ABCB AMGN ATR ACA AJG AX BZH BJRI SAM CPT COF CSL CWST CC CINF NET COLM OFC COUR CUZ CUBE DXCM DLR EMN ELME EIG EHC ESS EXPO FICO FHI FSLR FE GLPI GFL GILD HIG PEAK HUBG IMAX INTC KNSL KN LHX LPLA LTC MTX MHK MDLZ NATI NWE OIS OLN PFSI PINS PFG PFS PTCT RSG RMD SGEN SKX SKYW SM SNAP SSB SWN SSNC SNCY TMUS SKT SLCA X VRSN WY

Friday (Apr 28)  

• Morning:  AON ARCB ARES AVTR BLMN  CCJ  GTLS CHTR CVX CL DAN XOM FHB GNTX EAF IMGN IMO JKS LAZ LYB MOG.A NYCB NWL NVT POR SAIA SXT STEL TRP TNC WPC WT

==Life Time (LTH) : new clubs in Tampa, Fla. and Atlanta

 

• Life Time (LTH) announced it has entered into new and extended long-term leases with RMR Group for the Harbour Island Athletic Club in Tampa, Fla. and Atlanta's Athletic Club Northeast in North Druid Hills. Both clubs closed earlier this year will reopen as Life Time athletic country clubs in the coming months, offering Life Time's comprehensive array Healthy Way of Life programs and services for everyone seeking healthy, active lives. Additional details were not disclosed. Information on timing, membership opportunities and a wait list for both locations will be provided as they become available.