Life Time (US:LTH) Prnewswireยท2024-10-15 12:02Core Insights - Life Time Group Holdings, Inc. reported preliminary estimated financial results for the fiscal third quarter ended September 30, 2024, indicating strong growth in revenue and net income [1][2][6] Financial Performance - Total revenue is estimated at $693.2 million, reflecting an 18.5% increase compared to the prior year quarter [2] - Net income is estimated at $41.4 million, a significant increase of 422.5% year-over-year [2] - Adjusted net income is estimated at $56.3 million, up 110.9% from the previous year [2] - Adjusted EBITDA is estimated at $180.3 million, representing a 26.1% increase year-over-year [2] Cash Flow and Liquidity - Net cash provided by operating activities for the quarter is estimated at $151.1 million, a 31.8% increase from the prior year [3] - Free cash flow is estimated at $138.3 million, which includes $65 million from sale-leaseback transactions [3] - As of September 30, 2024, total available liquidity was $529.8 million, including cash and cash equivalents [4] Debt Management - The net debt leverage ratio improved to an estimated 2.4 times as of September 30, 2024, down from 3.7 times a year earlier [4][19] - The company is launching a process to refinance its 5.750% Senior Secured Notes and 8.000% Senior Notes, both due in 2026 [1][2] Membership and Revenue Metrics - Center memberships at the end of the period reached 826,502, a 5.4% increase from the previous year [2] - Average center revenue per center membership increased to $815, up 12.9% year-over-year [2]