Life Time Group Holdings announced higher earnings and revenue in the fourth quarter, positioning the company for continued growth in the upcoming year. With a profit of $23.7 million, or 12 cents a share, compared to $13.7 million, or 7 cents a share, in the previous year, the operator of fitness and spa centers is showing significant improvement.

Financial Performance and Guidance

Earnings per share, adjusted for one-time items, reached 19 cents - surpassing analyst expectations of 10 cents per share. Revenue also saw substantial growth, reaching $558.8 million, up from $472.7 million last year, exceeding projections of $555.5 million.

Key Metrics

A notable portion of Life Time's revenue comes from in-center offerings, which experienced an 11% increase in sales during the quarter. Center memberships grew by 5.2% compared to the previous year, while total subscriptions, including digital memberships, increased by 4.9%.

Outlook and Expansion

Despite a 41% rise in overhead costs due to increased share-based compensation expenses, the company's top-line growth was supported by a 21% increase in membership dues and enrollment fee revenue. Looking ahead, Life Time Group anticipates revenue to reach $2.46 billion to $2.5 billion in 2024, representing a 12% growth from the previous year. The company plans to open nine to ten new centers in the coming year.

Life Time Group Holdings is poised for continued success and expansion in the near future.

Harmony Gold Mining Financial Results

Falling Compensation for High-Yield Bonds

Leave A Reply

Your email address will not be published. Required fields are marked *

Related posts

Novanta's Stocks Fall as Profit Sinks and Demand Weakens
News

Novanta's Stocks Fall as Profit Sinks and Demand Weakens

Novanta's stocks have fallen due to a decrease in profit and weaker demand for its medical technology products, attribut...

Anglo Asian Mining Reports Decreased Production in Q3
News

Anglo Asian Mining Reports Decreased Production in Q3

Anglo Asian Mining reports decline in production in Q3, citing operational suspensions at Gedabek mine and aims to meet...

Supreme Court Blocks Lower-Court Order on Social Media Posts
News

Supreme Court Blocks Lower-Court Order on Social Media Posts

The Supreme Court has blocked a lower-court order aimed at restricting social media posts on COVID-19 and election secur...

Hong Kong Police Accuse Five Activists of Violating National Security Law
News

Hong Kong Police Accuse Five Activists of Violating National Security Law

Hong Kong police accuse five activists of violating national security law, intensifying crackdown on dissidents. Pro-dem...