NYSE$LTH
Life Time Group Holdings Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Life Time's financial performance significantly improved in Q4 2023, with revenue and adjusted EBITDA reaching record levels.
Life Time Group Holdings, Inc. reported an 18.2% increase in total revenue to $558.8 million for the fourth quarter of 2023. Net income increased to $23.7 million, and adjusted EBITDA increased by 28.7% to $137.7 million. The company also saw an increase in member engagement, with average visits per membership rising to 135 compared to 124 in 2022.
- Total revenue increased by 18.2% to $558.8 million.
- Net income increased to $23.7 million.
- Adjusted EBITDA increased by 28.7% to $137.7 million.
- Center memberships increased by 5.2% compared to December 31, 2022.
Headline financials
Revenue & EPS history
Life Time · Revenue · Quarterly
$559M
Revenue by segment
Life Time · $568M total across 2 segments · Q3 2023
- Membership Dues & Fees$408M+21.5%71.8%
- In-Center Revenue$160M+11.2%28.2%
Forward guidance
Life Time anticipates continued growth and improved financial performance in 2024, with a focus on deleveraging and free cash flow generation.
Tailwinds
- Revenue is expected to be between $585 million and $595 million.
- Net income is projected to be between $29 million and $32 million.
- Adjusted EBITDA is anticipated to be between $142 million and $146 million.
- The company expects to continue to reduce its net debt leverage ratio towards a target of 3.0x by December 31, 2024.
- Life Time plans to open 9-10 new centers in 2024.
Headwinds
- Rent expense is expected to include non-cash rent expense of $35 million to $40 million for the year.
- The company is actively monitoring the sale-leaseback market and will resume transactions when terms align with long-term financial objectives.
- There are inherent uncertainties in predicting non-cash, material, and non-recurring expenses.
- The variability of these items could have an unpredictable and potentially significant impact on future GAAP financial results.
- The company has not provided the most directly comparable GAAP financial measure for the Adjusted EBITDA forward-looking guidance for 2024.
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 Q4 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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