CHANHASSEN, Minn., Aug. 12, 2024 /PRNewswire/ -- Life Time Group Holdings, Inc. (NYSE: LTH) ("Life Time" or the "Company") announced today the pricing of the previously announced underwritten public offering of 12,000,000 shares of the Company's common stock held by the Company and certain of its existing stockholders (the "Selling Stockholders") at a price to the public of $21.75 per share. The underwriters in the offering will have a 30-day option to purchase up to an additional 1,800,000 shares of common ...

CHANHASSEN, Minn., Aug. 12, 2024 /PRNewswire/ -- Life Time Group Holdings, Inc. (NYSE: LTH) ("Life Time" or the "Company") announced today that the Company and certain of its existing stockholders (the "Selling Stockholders") intend to offer and sell 6,000,000 shares and 6,000,000 shares, respectively, of the Company's common stock in an underwritten public offering pursuant to Life Time's shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). The underwriters in the off ...

Core Insights - Life Time Group Holdings, Inc. (LTH) shows a significant improvement in earnings outlook, making it an attractive investment option [1] - Analysts are increasingly optimistic about the company's earnings prospects, as reflected in the upward trend of earnings estimate revisions [2] - The Zacks Rank system indicates that LTH is currently rated as Zacks Rank 2 (Buy), suggesting strong potential for outperformance [6] Current-Quarter Estimate Revisions - The expected earnings per share for the current quarter is $0.18, representing a year-over-year increase of +38.46% [4] - The Zacks Consensus Estimate for the current quarter has risen by 8.11% over the last 30 days, with three estimates increasing and no negative revisions [4] Current-Year Estimate Revisions - For the full year, the expected earnings per share is $0.74, indicating a +100% change from the previous year [5] - The consensus estimate for the current year has increased by 22.46%, with four estimates moving higher and no negative revisions [5] Performance and Market Sentiment - Life Time Group Holdings shares have appreciated by 25% over the past four weeks, indicating strong investor confidence in the company's earnings growth prospects [7]

Tired of playing with pickleballs he found inconsistent in bounce and durability, Life Time's founder and CEO Bahram Akradi decided to take matters into his own hands. On Friday, the upscale fitness and lifestyle company announced it has created what it dubs "the ultimate pickleball." Life Time will debut the ball exclusively at the company's clubs later this month. "This was a problem with the sport and it needed to be solved, so we basically stepped in and solved it," Akradi said. Akradi has gone all in o ...

Life Time Founder, Chairman and CEO spearheads new ball for better play, consistency and durability CHANHASSEN, Minn., Aug. 9, 2024 /PRNewswire/ -- Life Time, which continues to be at the forefront of the fastest-growing sport in America, today announced it has filed a patent for The Ultimate Pickleball. Designed to address common issues of inconsistent speed, bounce and durability, the new patent-pending ball will be unveiled during an exclusive event featuring tennis legend and pickleball fan, Andre Agass ...

Life Time Group Holdings, Inc. (LTH) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 56.25%. A quarter ago, it was expected that this company would post earnings of $0.16 per share when it actually produced earnings of $0.15, delivering a surprise of -6.25%. Over the last four quarte ...

Financial Performance - Total revenue for Q2 2024 was $667.8 million, an increase of 18.9% compared to Q2 2023[1] - Net income rose to $52.8 million, up $35.8 million or 210.6% year-over-year[2] - Adjusted EBITDA increased by 27.6% to $173.5 million compared to the prior year quarter[2] - Total revenue for Q2 2024 reached $667.8 million, a 19% increase from $561.7 million in Q2 2023[13] - Net income for Q2 2024 was $52.8 million, compared to $17.0 million in Q2 2023, representing a 210% increase[13] - Operating income for the first half of 2024 was $176.8 million, up from $119.8 million in the same period last year, reflecting a 47% increase[13] - Center revenue for Q2 2024 was $645.0 million, a 19% increase from $542.1 million in Q2 2023[13] - Adjusted net income for the first half of 2024 increased by 39.5% to $83.4 million[5] - Adjusted net income for the second quarter of 2024 was $52,440, up from $37,965 in 2023, reflecting a growth of 38.1%[19] - Adjusted EBITDA for the second quarter of 2024 was $173,545, up from $136,039 in 2023, representing a 27.6% increase[20] - Adjusted EBITDA for the trailing twelve months ended June 30, 2024, reached $600,211 thousand, compared to $434,143 thousand for the same period in 2023, reflecting a growth of 38.3%[24] Membership and Subscriptions - Center memberships grew by 42,398, or 5.4%, year-over-year, totaling 832,636 memberships[3] - Total subscriptions, including center and digital memberships, increased by 5.5% to 878,767[3] - Total memberships increased to 878,767 in 2024 from 832,639 in 2023, representing a growth of 5.5%[17] - Membership dues and enrollment fees rose to $462,696 in 2024, up from $387,115 in 2023, marking a 19.5% increase[17] - In-center revenue reached $182,311 in 2024, compared to $155,010 in 2023, reflecting an increase of 17.6%[17] - Average center revenue per center membership increased to $794 in 2024 from $701 in 2023, a rise of 13.3%[17] Cash Flow and Capital Expenditures - Free cash flow reached $175.1 million, including $149.0 million from sale-leaseback transactions[6] - Cash and cash equivalents increased to $34.5 million as of June 30, 2024, up from $11.2 million at the end of 2023[14] - The company reported a net cash provided by operating activities of $260.8 million for the first half of 2024, compared to $216.3 million in the same period last year[15] - Capital expenditures for the first half of 2024 were $301.1 million, down from $337.1 million in the same period last year[15] - Free cash flow improved to $175,116 in the second quarter of 2024, compared to $21,045 in 2023[22] - Net cash provided by operating activities was $170,423 in the second quarter of 2024, compared to $141,943 in 2023, an increase of 19.9%[20] - Free cash flow for the three months ended June 30, 2024, was $175,116 thousand, significantly up from $21,045 thousand in the prior year, indicating a substantial increase of 733.5%[23] - Capital expenditures for the six months ended June 30, 2024, were $(301,107) thousand, a decrease from $(337,076) thousand in the same period of 2023[23] Debt and Liabilities - The net debt leverage ratio improved to 3.0x, down from 4.3x a year ago[7] - The company’s total liabilities decreased to $4.8 billion as of June 30, 2024, from $4.8 billion at the end of 2023[14] - Interest expense, net of interest income, for the trailing twelve months ended June 30, 2024, was $142,695 thousand, up from $119,675 thousand in the previous year[24] - Share-based compensation expense increased to $46,670 thousand for the trailing twelve months ended June 30, 2024, compared to $32,051 thousand in the prior year[24] - The company reported a loss on sale-leaseback transactions of $5,307 thousand for the trailing twelve months ended June 30, 2024, compared to a gain of $(47,289) thousand in the previous year[24] Future Outlook - Full-year 2024 revenue guidance is set at $2,560 – $2,590 million, representing a 16.2% increase from 2023[7] - The company plans to open new centers and expand its market presence, contributing to future revenue growth[12] - The company projects adjusted EBITDA for the year ended December 31, 2024, to be in the range of $642 million to $652 million[26] - Net income for the year ended December 31, 2024, is expected to be between $142 million and $148 million[26] - The company opened 3 new centers in the second quarter of 2024, bringing the total to 175 centers[17]

Core Viewpoint - Life Time Group Holdings, Inc. has appointed Erik Weaver as Executive Vice President & Chief Financial Officer effective August 1, 2024, following his role as Interim Chief Financial Officer since January 1, 2024 [1] Group 1: Leadership Appointment - Erik Weaver has been with the company since 2004, holding various positions including Assistant Controller, Vice President and Controller, and Senior Vice President and Controller [2] - His financial leadership has been crucial in positioning the company for growth, overseeing accounting, financial reporting, and tax functions [2] - The appointment was supported by a thorough search process, with unanimous agreement from the Board of Directors and the CEO, Bahram Akradi, highlighting Weaver's extensive experience and recent performance [3] Group 2: Company Overview - Life Time operates over 170 athletic country clubs across the United States and Canada, focusing on health and wellness [4] - The company offers a range of healthy lifestyle programs through its Life Time Digital app and serves a diverse community from ages 90 days to over 90 years [4] - Life Time also owns and produces nearly 30 iconic athletic events in the country, supported by a team of over 45,000 professionals [4]

Total revenue of $667.8 million increased 18.9% over the prior year quarter Net income of $52.8 million increased by $35.8 million over the prior year quarter Adjusted EBITDA of $173.5 million increased by 27.6% over the prior year quarter Diluted EPS increased to $0.26 Achieved positive free cash flow Reduced net debt leverage ratio to 3.0 times CHANHASSEN, Minn., Aug. 1, 2024 /PRNewswire/ -- Life Time Group Holdings, Inc. ("Life Time," "we," "our," "us," or the "Company") (NYSE: LTH) today announced its f ...

Core Insights - Life Time has opened its newest location, Life Time Harbour Island, in Tampa, Florida, on July 9, 2024, with a waitlist exceeding 10,000 members [1][4][7] Company Overview - Life Time operates over 170 athletic country clubs across the United States and Canada, focusing on health and wellness for individuals aged 90 days to 90+ years [9] - The company employs more than 39,000 professionals dedicated to promoting healthy living [9] Facility Details - The Harbour Island location spans nearly 6.5 acres, featuring a total of 186,000 square feet, including 36,000 square feet of indoor space and 150,000 square feet of outdoor facilities [4][3] - The outdoor area includes 12 pickleball courts and eight tennis courts with stadium seating, a 4-lane lap pool, a cold plunge pool, and a kids' splash pool [6] Amenities and Services - The facility offers various fitness studios for group classes, personal training, and a full-service LifeCafe restaurant and bar [5] - A dedicated Kids Academy provides activities for children aged 3 months to 11 years, focusing on various developmental skills [5] Community Impact - The opening of Life Time Harbour Island is expected to create new jobs and enhance the vibrancy of the Tampa community, aligning with the city's commitment to healthy living [4]