Life Time Group Holdings Inc Stock Price, News & Analysis

Life Time (NYSE: LTH) is celebrating National Pickleball Month, highlighting its status as the largest operator of pickleball courts with over 500. The Association of Pickleball Professionals reports that 36.5 million people played pickleball from August 2021 to August 2022, with the fastest-growing demographic being under 24. Life Time plans to expand its pickleball courts, constructing five new permanent courts weekly, aiming for over 1,000 by the end of 2024. Success stories from various players exemplify the sport's appeal across generations and its potential for health benefits, such as weight loss and enhanced social interaction. Ajay Pant, Life Time's VP of Racquet Sports, emphasizes the joy and community spirit fostered by pickleball.

Life Time Group Holdings (NYSE: LTH) reported a 30.2% increase in revenue to $510.9 million for Q1 2023, up from $392.3 million in Q1 2022. Net income turned positive at $27.5 million, recovering from a loss of $38.0 million a year prior. Adjusted EBITDA surged 195.8% to $120.1 million. The company raised its full-year Adjusted EBITDA guidance by $30 million, now projected between $470 million and $490 million. Membership growth was robust, with a net increase of approximately 39,000 members, bringing total memberships to 813,500. Operating cash flow also improved significantly, totaling $74.3 million compared to $9.1 million in the same quarter last year.

Life Time Group Holdings (NYSE: LTH) announced the closure of a $45 million sale-leaseback transaction on April 20, 2023, with an institutional investor. This marks the first of three planned transactions totaling approximately $123 million. Previously, Life Time closed another transaction for $33 million on March 1, 2023, and a third transaction expected by September 30, 2023 is projected to yield another $45 million. The company is on track to finalize $300 million in sale-leaseback transactions within 2023, which will support growth opportunities and strengthen its balance sheet.

Life Time Group Holdings, Inc. (LTH) will release its financial results for Q1 2023 before the market opens on April 25, 2023. A conference call will be held at 10:00 a.m. ET to discuss these results and provide a business update. Interested parties can join via U.S. dial-in at 1-877-451-6152 or international dial-in at 1-201-389-0879. Additionally, a live audio webcast will be available, with replay access starting at 1:00 p.m. ET the same day until May 9, 2023. Life Time operates over 160 athletic country clubs in the U.S. and Canada, focused on promoting healthy living. The company employs more than 34,000 professionals dedicated to enhancing community wellness.

Life Time (NYSE: LTH) has announced the signing of new and extended long-term leases with RMR Group for two athletic clubs: Harbour Island Athletic Club in Tampa, Florida, and Athletic Club Northeast in Atlanta, Georgia. Both clubs, which closed earlier this year, are set to reopen as Life Time athletic country clubs, offering a full range of health and wellness programs. Life Time aims to enhance its footprint in these markets with this expansion, leveraging over 30 years of experience in developing large-scale athletic destinations. Currently, Life Time operates four locations in Florida and several in Georgia, with plans to open a new venue in Pinecrest, Miami later this summer. Further details regarding membership opportunities and opening timelines will be revealed in due course.

Life Time, a leader in healthy lifestyle services (NYSE: LTH), has opened registration for its summer camps for children aged 5 to 12. Each year, Life Time hosts over 11 million kids, offering engaging activities focused on health and safety. Key features include safety protocols requiring background checks for staff, unique weekly themes, and daily swim lessons. Camps operate from 9 a.m. to 4 p.m. with extended hours for parent convenience. According to the Centers for Disease Control and Prevention, active children show improved academic performance. Life Time aims to help families stay healthy, providing a fun environment for skill development and confidence building.

Life Time (NYSE:LTH) is set to open its luxury living residences in Burlington, Mass., in Summer 2023. The five-story, 167-unit development will complement the existing Life Time Burlington athletic country club, creating a 13-acre healthy lifestyle village. Designed with a range of apartment styles, the development will offer access to extensive health and wellness amenities including pools, courts, and gourmet dining at Life Cafe. Unique Resident Concierge programming will enhance residents' experience with meal prep, personal training, and nutrition coaching. Previous Life Time Living locations opened in Coral Gables and Las Vegas, with another planned for Stamford this summer.

On March 20, 2023, Life Time (NYSE: LTH) announced its upcoming Ride of a Life Time charity cycling event scheduled for April 29. This initiative aims to combat the decline in children's health by raising $1.5 million to support Children's Miracle Network Hospitals and the Life Time Foundation. Participants can join the event virtually or at one of nearly 160 athletic clubs nationwide. The event has previously raised over $1.6 million since its start in 2021, with last year alone bringing in over $1 million.

Life Time has officially opened its latest location, Life Time Lakeshore-Irvine, in IRVINE, California

Spanning 94,000 square feet, this athletic country club is the third in Orange County and is designed to enhance the healthy lifestyle offerings to the local community. The club features six dedicated studios for over 100 weekly fitness classes, personalized training, and wellness services. It also includes a beach club with a pool, a basketball court, and facilities catering to families with children. The opening is expected to create 120 new jobs in the region.