Life Time Group sees FY23 revenue $2.2B-$2.3B, consensus $2.24B

Sees FY23 adjusted EBITDA $430M-$450M. The company said, "We anticipate revenue growth will be driven primarily by the continued ramping of mature clubs, new club openings, strategic investments and pricing. We expect Adjusted EBITDA growth will be driven primarily by revenue growth and margin expansion activities. We anticipate rent expense for fiscal 2023 to be $280 million – $290 million, which includes full annualized rents for the $375 million of sale-leasebacks we completed in 2022, rent from sale-leaseback transactions we expect to complete in 2023 and non-cash rent associated with sites where we expect to take possession and start construction but not open for operation in 2023. The Company will provide more detailed 2023 guidance as part of the 2022 fourth quarter and full year earnings release in March."