CHANHASSEN, Minn., Dec. 27, 2023 /PRNewswire/ -- Based on information as of December 26, 2023, Life Time Group Holdings, Inc. ("Life Time," "we," "our," "us," or the "Company") (NYSE: LTH) today reaffirmed its guidance for fiscal year ended December 31, 2023, that it provided on October 25, 2023, as part of its third quarter earnings release.
Fourth Quarter 2023 Guidance (based upon range midpoints):
- Revenue is expected to increase approximately 18.5% to $555-$565 million from $472.7 million in the prior year period.
- Net income is expected to be up approximately 13.1% to $14-$17 million from $13.7 million in the prior year period.
- Adjusted EBITDA is expected to increase approximately 24.3% to $131-$135 million from $107 million in the prior year period.
Full-Year 2023 Guidance (based upon range midpoints):
- Revenue is expected to increase approximately 21.7% to $2,213-$2,223 million from $1,822.6 million for the prior year.
- Net income is expected to be $66-$69 million as compared with a net loss of $1.8 million for the prior year.
- Adjusted EBITDA is expected to increase approximately 88.9% to $530-$534 million from $281.7 million for the prior year.
Bahram Akradi, Founder, Chairman and CEO, stated: "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. I look forward to continue working with senior vice president and controller, Erik Weaver – a 19-year Life Time veteran – as he assumes the role of interim Chief Financial Officer with the transition of Bob Houghton to his new career endeavor. Bob is a consummate professional and I wish him well."
About Life Time
Life Time (NYSE: LTH) empowers people to live healthy, happy lives through its portfolio of more than 170 athletic country clubs across the United States and Canada. The Company's healthy way of life communities and ecosystem address all aspects of healthy living, healthy aging and healthy entertainment for people 90 days to 90+ years old. Supported by a team of more than 37,000 dedicated professionals, Life Time is committed to providing the best programs and experiences through its clubs, iconic athletic events and comprehensive digital platform.
