NYSE$LTH
Life Time Group Holdings Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported strong revenue growth, increased memberships, and improved profitability.
Life Time reported a strong second quarter with a 21.8% increase in revenue, reaching $561.7 million. Net income increased to $17.0 million, a significant improvement from the net loss of $2.3 million in the same quarter last year. The company added 26,000 memberships and raised its full-year net income and Adjusted EBITDA expectations.
- Revenue increased by 21.8% to $561.7 million compared to the second quarter of 2022.
- Net income improved to $17.0 million, up from a net loss of $2.3 million in the prior year.
- Adjusted EBITDA surged by 115.5% to $136.0 million.
- The company increased its full year fiscal 2023 Adjusted EBITDA guidance range to $510-$520 million.
Headline financials
Revenue & EPS history
Life Time · Revenue · Quarterly
$562M
Revenue by segment
Life Time · $542M total across 2 segments · Q2 2023
- Membership Dues & Fees$387M+25.2%71.4%
- In-Center Revenue$155M+13.5%28.6%
Forward guidance
Life Time provided guidance for the third quarter and full year of 2023.
Tailwinds
- Third quarter revenue is expected to be between $585 million and $595 million.
- Third quarter net income is projected to be between $22 million and $24 million.
- Third quarter Adjusted EBITDA is expected to range from $136 million to $138 million.
- Full year revenue is guided to be between $2.235 billion and $2.265 billion.
- Full year Adjusted EBITDA is projected to be between $510 million and $520 million.
Headwinds
- Full year net income is expected to be between $75 million and $83 million.
- Rent expenses for the full year are anticipated to be between $270 million and $280 million.
- Capital expenditures are still targeted at $260 million to $280 million for the year, net of planned $300 million of gross sale-leaseback proceeds.
- The company plans to open a total of 12 centers in 2023, eight of which are planned for the second half.
- Net income in the third quarter of 2022 included a $42.7 million tax-effected gain from sale-leaseback transactions and $5.1 million in tax-effected non-cash share-based compensation expense.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-0.2%
Avg return
Earnings day
+1.9%
Avg return
5 days after
+3.6%
Avg return
30 days after
39%
9 / 23 earnings
Positive
+23.6%
Q3 2022
Best reaction
-18.5%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +11.9% | +21.6% | +23.9% | |
| Q4 2025 | -0.3% | -5.0% | -6.4% | |
| Q3 2025 | +5.4% | +2.6% | +6.8% | |
| Q1 2025 | -6.7% | -9.4% | -12.0% | |
| Q4 2024 | -1.0% | +0.0% | -3.5% | |
| Q3 2024 | -7.1% | -10.2% | -3.0% | |
| Q2 2024 | +7.6% | +15.4% | +13.2% | |
| Q1 2024 | +3.4% | +8.2% | +22.8% | |
| Q4 2023 | +10.6% | +9.2% | +25.0% | |
| Q3 2023 | -17.7% | -17.0% | +7.0% | |
| Q2 2023 | -16.2% | -16.3% | -22.9% | |
| Q1 2023 | +10.3% | +18.2% | +10.2% | |
| Q4 2022 | -7.6% | -11.3% | -13.9% | |
| Q3 2022 | +23.6% | +25.7% | +36.4% | |
| Q2 2021 | -2.8% | -1.5% | -13.5% | |
| Q2 2022 | -2.8% | -1.5% | -13.5% | |
| Q1 2021 | +13.4% | +23.6% | +16.1% | |
| Q1 2022 | +13.4% | +23.6% | +16.1% | |
| Q4 2021 | -18.5% | -17.4% | +1.3% | |
| Q4 2019 | -18.5% | -17.4% | +1.3% | |
| Q3 2020 | -0.7% | +2.2% | -15.2% | |
| Q4 2020 | -0.7% | +2.2% | -15.2% | |
| Q3 2021 | -4.0% | -2.7% | +22.6% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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