Life Time Group sees Q4 revenue $555M-$565M, consensus $554.82M

Life Time Group reaffirmed its guidance for fiscal year ended December 31, 2023, that it provided on October 25, 2023, as part of its third quarter earnings release. The company sees Q4 revenue of $555M-$565M, with consensus at $554.82M. Additionally, Life Time Group expects Q4 adjusted EBITDA of $131M-$135M and Q4 net income of $14M-$17M. For FY23, the company sees revenue of $2.213B-$2.223B, with consensus at $2.21B. Life Time also sees FY23 adjusted EBITDA of $530M-$534M and FY23 net income of $66M-$69M. Bahram Akradi, Founder, Chairman and CEO, stated that, “We remain on track for a strong close to 2023 with average member visits and demand for our programming at an all-time high. Based on our expectations for continued growth and substantial asset light opportunities, we are pleased to re-affirm our 2023 guidance as we head into 2024. In addition, as shared previously, we expect to be free cash flow positive after all capital expenditures, including new club growth, by the middle of 2024. Our business and outlook remain strong. I look forward to continue working with senior vice president and controller, Erik Weaver – a 19-year Life Time veteran – as he assumes the role of interim Chief Financial Officer with the transition of Bob Houghton to his new career endeavor. Bob is a consummate professional and I wish him well.”