Loading...
•
Mar 31, 2024
Life Time Q1 2024 Earnings Report
Life Time's financial performance demonstrated strong growth, driven by increased membership and in-center revenue.
Key Takeaways
Life Time reported a 16.8% increase in revenue to $596.7 million, driven by strong growth in membership dues and in-center revenue. Net income decreased slightly to $24.9 million, while Adjusted EBITDA increased by 21.6% to $146.0 million. The company raised its full-year revenue and Adjusted EBITDA guidance.
Revenue increased by 16.8% to $596.7 million.
Center memberships increased by 5.0% compared to March 31, 2023.
Net income decreased to $24.9 million, primarily due to one-time benefits in the prior year.
Adjusted EBITDA increased by 21.6% to $146.0 million.
Revenue by Segment
Forward Guidance
Life Time raised its full-year 2024 revenue guidance to $2.500 - $2.530 billion and Adjusted EBITDA guidance to $603 - $618 million.
Positive Outlook
- Revenue: $2,500 - $2,530 million
- Adjusted EBITDA: $603 - $618 million
- Rent: $300 - $312 million
- Being free cash flow positive beginning in the second quarter
- Further improving our balance sheet
Challenges Ahead
- Uncertainty in predicting non-cash expenses
- Difficulty in predicting material and/or non-recurring expenses or benefits
- Challenges in forecasting legal settlements or other matters
- Variability of certain tax positions
- Potential impact on future GAAP financial results
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...