Life Time Group shares fall after Q3 earnings miss, outlook

Life Time group

25/10/2023 17:49

Oct 25 (Reuters) - **Shares of Life Time Group  LTH.N 
down by more than 15% to 9-month low of $11.94 on Wednesday
after the fitness center owner reported third quarter results
that missed analyst estimates
    ** Stock on track for biggest one-day pct drop since debut
in Oct 2021
    ** LTH reported adj earnings per share of 6 cents, excluding
asset impairments, versus avg estimate of 12 cents, per LSEG
data
    ** Revenue rose nearly 18% to $585.2 million, slightly below
avg estimate of $586.38, per LSEG data
    ** LTH also forecast Q4 revenue of $555-$565 mln and FY rev
2023 between $2.213-$2.233 bln vs LSEG estimates of $576.6 mln
and 2.236 bln, respectively
    ** Q3 memberships rose 7.63% to 784,331
    ** LTH stock up 1.6% YTD    

 (Reporting by Chibuike Oguh in New York)
 ((Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters
Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))