News

Life Time Group Holdings’ Growth Surge

1 Mins read

Life Time Group Holdings experienced a surge in its shares following a strong performance in the fourth quarter, accompanied by significant membership growth. The company also provided guidance for double-digit revenue growth in the coming year.

Financial Performance

After the announcement, shares opened 27% higher at $15.78, bringing the stock back into positive territory for the year. In the fourth quarter, the operator of fitness and spa centers reported adjusted earnings of 19 cents per share, surpassing analysts’ expectations of 10 cents per share. Revenue saw a substantial increase, rising nearly a quarter to $558.8 million compared to analyst projections of $555.5 million.

Membership Growth

Center memberships grew by 5.2% from the previous year, while revenue from center offerings, representing a quarter of its revenue base, increased by 11%.

Future Outlook

Based in Chanhassen, Minnesota, the company forecasts revenue in the range of $2.46 billion to $2.5 billion in 2024, reflecting a growth of approximately 12% from the previous year. This outlook aligns with current analyst estimates.

Life Time Group Holdings’ robust performance and optimistic outlook position the company for continued success in the fitness and spa industry.

Related posts
News

Newsroom Panama

1 Mins read
Panama President Mulino Supports Jorge Herrera’s Election and Reiterates Respect for the Separation of Powers Cryptocurrency Holders: How to Earn Daily Income…
News

$69.5 Million Bitcoin ETF Holder Files for IPO

2 Mins read
Software manufacturer Figma has registered for an initial public offering (IPO) and announced that it holds $69.5 million in a Bitcoin exchange-traded…
News

Strong Ethereum Accumulation Detected: LTH Buying Heavy During June Consolidation | Ethereum Ethereum Accumulation | CryptoRank.io

2 Mins read
Ethereum is trading above $2,400 after enduring several days of volatility and uncertainty. The price has managed to stabilize despite sharp intraday…

Leave a Reply

Your email address will not be published.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