Life Time Group Holdings Inc Stock Price, News & Analysis

Life Time Foundation has announced over $600,000 in grants to nineteen youth organizations through its Get Kids Moving initiative, aimed at promoting physical activity among children. The organization, aligned with Life Time (NYSE: LTH), works with schools to enhance nutrition and exercise. This funding will positively impact more than 27,000 kids across the nation.

Grants vary, with significant amounts allocated to programs such as the Austin Independent School District ($100,000) and Chicago Public Schools ($68,979.50). The initiative reflects a commitment to combating youth sedentary lifestyles.

Life Time (NYSE: LTH) is set to open its 12th location in the Dallas-Fort Worth metro area at McKinney this fall, expanding its presence in Texas to 29 clubs. The 100,000-square-foot facility will feature amenities such as 12 outdoor pickleball courts, an Olympic-sized pool, and various group fitness classes. The membership includes access to the Kids Academy and LifeSpa services, catering to a wide age demographic. Life Time celebrates over 30 years of operations and plans further growth with a new location scheduled for Missouri City in 2023.

Life Time Group Holdings, Inc. (NYSE: LTH) announced the completion of a sale-leaseback of five properties for $200 million on September 9, 2022. This brings the total gross proceeds from year-to-date transactions to $375 million. The proceeds will be allocated to pay down debt and strengthen the company's balance sheet. The company is also considering further monetizing up to $300 million in real estate by year-end, potentially increasing total proceeds for 2022 to $675 million.

Life Time is launching its fall version of the 60day Challenge across its nearly 160 athletic country clubs in the U.S. and Canada, starting September 10, with registration open until September 17. Since its inception in 2010, participants have lost over one million pounds. The challenge offers daily support, consultations with personal trainers, meal plans, and weekly challenges. Winners, announced on November 30, will receive various prizes, including a vacation and personal training sessions. Life Time also introduces a complimentary, two-week D.TOX program beginning September 19.

Life Time (NYSE: LTH) has expanded its footprint in New York City with the opening of Life Time One Wall Street on September 8, 2022. This new 74,000-square-foot athletic club features amenities for all ages and is the first in NYC to offer Life Time Kids Academy. The club aims to enhance the health and wellness landscape, bringing Life Time's total locations to over 160 across the U.S. and Canada. Life Time plans further expansion with additional clubs in Dumbo and Midtown by the end of 2022.

Life Time Group Holdings announced the retirement of President and CFO Thomas Bergmann, effective December 31, 2022. Robert Houghton will assume the role of Executive Vice President and CFO starting August 28, 2022. Bergmann, who has been with the company since February 2016, played a pivotal role in Life Time’s financial growth and operational strategies, including successful equity and debt transactions. Houghton brings extensive experience from his previous roles at United Natural Foods and C.H. Robinson, enhancing the company's financial leadership.

Life Time, a leading healthy lifestyle brand, highlights the importance of Healthy Aging Month by offering seven tips to improve health and happiness for older adults. Key suggestions include expanding social circles, engaging in pickleball, dancing, and finding suitable fitness coaching. These recommendations aim to foster a sense of community and enhance well-being among seniors. Life Time's ARORA program promotes various activities tailored for older adults, ensuring they remain active and connected. The company operates nearly 160 athletic clubs across the U.S. and Canada, supporting healthy living from ages 90 days to 90+ years.

Life Time (NYSE: LTH) has opened a new 136,000-square-foot athletic country club in Downtown Palm Beach Gardens, expanding its presence in South Florida. The facility will create nearly 200 jobs and offers a range of amenities including group classes, personal training, a rooftop beach club, and wellness services. The opening marks Life Time's fourth location in South Florida and is part of a broader redevelopment initiative aimed at enhancing the community and promoting healthy living.

Life Time Group Holdings (NYSE: LTH) reported strong second quarter financial results, with total revenue rising 42.7% to $461.3 million compared to the same period last year. The company saw a 10.2% increase in center memberships, totaling 724,778. Adjusted EBITDA surged to $63.1 million from $4.2 million in the prior year. Despite a net loss of $2.3 million, the company remains optimistic about ongoing growth and plans for 12 more center openings in 2022. Additionally, significant sale-leaseback transactions totaling $675 million are projected to strengthen the balance sheet.