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Sep 30, 2023
Life Time Q3 2023 Earnings Report
Life Time's financial performance was marked by record revenue and Adjusted EBITDA, driven by strong membership growth and in-center revenue.
Key Takeaways
Life Time Group Holdings, Inc. reported a 17.9% increase in total revenue to $585.2 million for the third quarter of 2023, compared to $496.4 million in the third quarter of 2022. Net income decreased to $7.9 million from $24.7 million year-over-year, while Adjusted EBITDA increased significantly by 101.4% to $143.0 million.
Total revenue increased by 17.9% to $585.2 million, driven by growth in membership dues and in-center revenue.
Net income decreased to $7.9 million, primarily due to a gain from sale-leasebacks in the prior year period.
Adjusted EBITDA increased by 101.4% to $143.0 million, reflecting improved business performance and margin improvements.
The company opened six new centers in the third quarter, bringing the total to 170 centers.
Revenue by Segment
Forward Guidance
Life Time provided guidance for the fourth quarter and full year 2023, projecting continued revenue growth and improved profitability.
Positive Outlook
- Revenue is expected to be between $555 million and $565 million for Q4 2023.
- Net income is projected to be between $14 million and $17 million for Q4 2023.
- Adjusted EBITDA is expected to be between $131 million and $135 million for Q4 2023.
- Full-year revenue is projected to be between $2.213 billion and $2.223 billion.
- Full-year Adjusted EBITDA is expected to be between $530 million and $534 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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