Life Time Q1 revenue up 30% to $511M; Adj EBITDA $120M; raises FY guidance to $470-490M

Life Time Group Holdings, Inc.

2023-Q1 EPS reported $0.14 revenue$510,851,000

Revenue $510.9M (+30.2% YoY); net income $27.5M vs loss of $38.0M in prior year.
Adjusted EBITDA $120.1M (+195.8% YoY); raises full-year Adj EBITDA guidance to $470-490M from $440-460M.
Center memberships grew 13.4% to 764,173; opened 3 new centers in Q1, plans 7 more in 2023.
Completed sale-leaseback of $33M in Q1 and $45M in April; on track for $300M total in 2023.
Q2 2023 guidance: revenue $560-570M, Adj EBITDA $124-126M; net income $19-20M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Life Time Group Holdings, Inc. reported first quarter ended March 31, 2023 results: revenue $510.9 million, net income $27.5 million.

Period: first quarter ended March 31, 2023
Revenue: $510.9 million
Net income: $27.5 million
Result: reported results

Exact text from the filing

Life Time Reports First Quarter Fiscal 2023 Financial Results • Revenue increased by 30.2% to $510.9 million from $392.3 million in the first quarter of 2022 • Net income increased to $27.5 million from a net loss of $38.0 million in the first quarter of 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Life Time Group Holdings, Inc. reported fiscal year ended December 31, 2023 results: revenue $2,200 – $2,300. Guidance raised.

Period: fiscal year ended December 31, 2023
Revenue: $2,200 – $2,300
Guidance: raised
Result: guidance update

Exact text from the filing

Full-Year 2023 Guidance Year Ended Percent Year Ended December 31, 2023 Year Ended Change December 31, 2023 (Guidance as of December 31, 2022 (Using (Guidance as of ($ in millions) April 25, 2023) (Actual) midpoints) March 8, 2023) Revenue $2,200 – $2,300 $1,823 23% $2,200 – $2,300 Adjusted EBITDA $470 – $490 $282 70% $440 – $460 Rent $270 – $280 $245 12% $270 – $280

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Life Time Group Holdings, Inc. reported three months ended June 30, 2023 results: revenue $560 – $570, net income $19 – $20. Guidance initiated.

Period: three months ended June 30, 2023
Revenue: $560 – $570
Net income: $19 – $20
Guidance: initiated
Result: guidance update

Exact text from the filing

Second Quarter 2023 Guidance Percent Three Months Ended Three Months Ended Change June 30, 2023 June 30, 2022 (Using ($ in millions) (Guidance) (Actual) midpoints) Revenue $560 – $570 $461 23% Net income (loss) $19 – $20 $(2) NM Adjusted EBITDA $124 – $126 $63 98%

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Source: SEC EDGAR

accession 0001869198-23-000031

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