Welcome to our dedicated page for Life Time Group Holdings news (Ticker: LTH), a resource for investors and traders seeking the latest updates and insights on Life Time Group Holdings stock.
Life Time Group Holdings Inc (NYSE: LTH) provides premium wellness experiences through its network of athletic country clubs and digital platforms. This news hub offers investors and industry observers centralized access to official corporate communications and market developments.
Track all material announcements including quarterly earnings disclosures, facility expansion plans, leadership updates, and wellness program innovations. Our curated feed ensures timely access to press releases about membership trends, digital health initiatives, and strategic partnerships.
Key coverage areas include new club openings, sustainability efforts, nutritional product launches, and participation in industry conferences. Subscribers receive alerts for regulatory filings and operational milestones that impact LTH's market position in the competitive fitness sector.
Bookmark this page for streamlined monitoring of Life Time's financial performance, member experience enhancements, and corporate responsibility programs. Combine our verified news stream with SEC filings for complete due diligence on this health-focused lifestyle enterprise.
Life Time Group Holdings (NYSE: LTH) has announced a public offering of 12,000,000 shares of common stock. The company will offer 6,000,000 shares, while existing stockholders will sell an additional 6,000,000 shares. Underwriters have a 30-day option to purchase up to 1,800,000 extra shares from the selling stockholders. Life Time plans to use the net proceeds for general corporate purposes, including potential debt repayment.
Morgan Stanley and BofA Securities are leading the offering as book-running managers, with Deutsche Bank Securities and Wells Fargo Securities also acting as active book-runners. The offering is subject to market conditions and there's no guarantee of its completion or final terms.
Life Time, a leader in the rapidly growing sport of pickleball, has filed a patent for The Ultimate Pickleball. Designed by Life Time Founder, CEO, and Chairman Bahram Akradi, this new ball aims to address issues of inconsistent speed, bounce, and durability in existing pickleballs. The patent-pending ball will be unveiled on August 19 at Life Time's PENN 1 in New York City, featuring tennis legend Andre Agassi.
The Ultimate Pickleball will debut exclusively in Life Time clubs and be used in all Pickleball Classic tournaments. Later, it will be available for sale at Life Time's racquet sports pro shops and online. Life Time continues to expand its pickleball offerings, with over 700 permanent courts across its locations and partnerships with major leagues like MLP and PPA.
Life Time (NYSE: LTH) has expanded its presence in Texas with the opening of Life Time Westlake on August 3, 2024. This marks the company's 13th location in the Dallas-Fort Worth area and 33rd in Texas. The new 112,000-square-foot, two-story athletic country club offers a wide range of amenities, including:
- Indoor and outdoor pools with a beach club
- Seven pickleball courts
- Expansive workout spaces
- Kids Academy
- LifeCafe restaurant
- LifeSpa for body treatments
The club features state-of-the-art fitness equipment, personal training services, and over 100 group fitness classes. Life Time Westlake is open daily, with extended hours on weekdays. This expansion reflects the growing demand for Life Time's comprehensive health and wellness offerings in the Dallas-Fort Worth metro area.
Life Time Group Holdings, Inc. (NYSE: LTH) has appointed Erik Weaver as Executive Vice President & Chief Financial Officer, effective August 1, 2024. Weaver, who joined the company in 2004, had been serving as Interim CFO since January 1, 2024. His previous roles include Assistant Controller, Vice President and Controller, and Senior Vice President and Controller. Weaver holds an MBA from Hamline University and a B.S. in accounting from St. Cloud State University.
Life Time's Founder, Chairman, and CEO, Bahram Akradi, expressed confidence in Weaver's appointment, citing his two decades of service and recent performance as interim CFO. The decision was unanimously supported by the Board of Directors after a thorough search process.
Life Time Group Holdings (NYSE: LTH) reported strong Q2 2024 financial results, with total revenue increasing 18.9% to $667.8 million compared to the prior year quarter. Net income rose by $35.8 million to $52.8 million, while Adjusted EBITDA grew 27.6% to $173.5 million. The company achieved positive free cash flow and reduced its net debt leverage ratio to 3.0 times, two quarters ahead of plan. Key highlights include:
- Center memberships increased 5.4% year-over-year to 832,636
- Comparable center revenue grew 12.0%
- Opened three new centers, bringing the total to 175
- Raised full-year 2024 revenue guidance to $2,560-$2,590 million
Life Time's strong performance was driven by growth in membership dues, increased average dues, and higher utilization of in-center offerings. The company remains focused on funding growth while generating positive free cash flow and further reducing leverage.
Life Time (NYSE: LTH) has opened its newly renovated Harbour Island Athletic Club on July 9, 2024, in Tampa, Florida. Spanning over 186,000 square feet, the facility includes a 36,000-square-foot indoor club and 150,000 square feet of outdoor space. It offers extensive fitness amenities such as studios for group fitness, Pilates, and yoga, a full-service restaurant, and a spa. The outdoor area boasts 12 pickleball courts, eight tennis courts, a lap pool, a kids' splash pool, and a beach club. This launch aims to provide a luxury health and wellness experience to the Tampa community, supported by a waitlist of over 10,000 prospective members.
Life Time Group Holdings (NYSE: LTH) will release its financial results for the second quarter of 2024 on August 1, 2024, before market open. The company has scheduled a conference call at 10:00 a.m. ET to discuss the results and provide a business update. Interested parties can join via U.S. dial-in at 1-844-826-3035 or international dial-in at 1-412-317-5195. A live audio webcast will be available on their investor relations website, and a recorded replay will be accessible within three hours post-call, remaining available until August 15, 2024.
Life Time (NYSE: LTH) has completed a $90 million sale-leaseback transaction for two properties on June 28, 2024, bringing its total gross proceeds from sale-leasebacks to $130 million for the year.
The company is negotiating additional sale-leasebacks expected to yield $40-$65 million by Q3's end. Most proceeds will reduce debt and help achieve a net debt-to-Adjusted EBITDA leverage ratio below 3 times. The strong financial performance will offset the incremental rent expense from these transactions.
CEO Bahram Akradi expects these transactions to contribute to positive free cash flow and revenue and Adjusted EBITDA growth by low double digits.
Life Time (NYSE: LTH) celebrates Father's Day by sharing health tips from three top personal trainers who are also fathers. Cliff Edberg, Senior Director of MIORA Performance + Longevity, emphasizes consistency over perfection in workouts. David Freeman, Senior Director of Alpha, advises dads to ask for help and prioritize mental health. Bob Holper, a Dynamic Personal Trainer, stresses the importance of daily movement and setting a positive example for children. These tips aim to help dads lead healthier, more impactful lives. Life Time offers resources through its athletic country clubs and digital membership, as well as a selection of healthy Father's Day gifts on its LT Shop website.
Life Time Group Holdings (NYSE: LTH) announces its participation in three investor conferences in June 2024. On June 3, Life Time will join the Morgan Stanley 2nd Annual Travel & Leisure Conference in New York, featuring a fireside chat with analyst Megan Alexander. On June 12, the company will participate in the Oppenheimer Virtual 24th Consumer Growth & eCommerce Conference, engaging in a discussion with analyst Brian Nagel. Lastly, Life Time will attend the Northland Virtual Growth Conference on June 25. The company will host one-on-one meetings at each event. Additionally, a replay of their May 30 Investor & Analyst Day is available online. Life Time operates over 170 athletic country clubs in the US and Canada.
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