LIFE TIME Reports Record Earnings Results for FY2023 Q2

🌥️Earnings Overview

LIFE TIME ($NYSE:LTH) announced its earnings results for Q2 of FY2023, ended June 30 2023, on July 25 2023. The total revenue had risen 21.8% year-on-year to USD 561.7 million, while the net income was reported at USD 17.0 million, representing a significant improvement from the -2.3 million reported for the same period in the prior year.

Stock Price

The company’s stock opened at $21.0 and closed at $18.6, representing a 13.6% plunge from its last closing price of 21.5. This is the largest single day stock price drop the company has seen in a decade. The record earnings results were due to strong revenue growth and robust cost-saving initiatives. The company’s strong financial performance was also due to higher sales in its retail, education, and health care divisions.

Overall, LIFE TIME reported a strong quarter and the company’s stock price has rebounded from its recent dip. Going forward, the company is confident that it can continue to deliver strong financial results, as it continues to focus on improving its cost-saving initiatives and growing its customer base. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Life Time. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Life Time. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Life Time. More…

Key Ratios Snapshot

Some of the financial key ratios for Life Time are shown below. More…

Analysis

At GoodWhale, we recently conducted an analysis of LIFE TIME‘s wellbeing. After our assessment, LIFE TIME has been labeled as a low risk investment in terms of financial and business aspects. Moreover, we have detected two risk warnings in balance sheet and cashflow statement. We invite you to register with us to check out our analysis in detail. Our expertise and experience in financial analysis can help you make a well-informed decision. We strive to provide the best insights and information to help you make smarter investments. With us, you can stay ahead of the curve and maximize your returns. More…

Peers

In the fitness industry, there is intense competition between Life Time Group Holdings Inc and its competitors: F45 Training Holdings Inc, Cedar Fair LP, Fit After Fifty Inc. All of these companies are vying for a share of the market, and each has its own unique approach to fitness.

– F45 Training Holdings Inc ($NYSE:FXLV)

F45 Training Holdings Inc is a global fitness franchise that offers affordable and convenient fitness solutions for its members. The company operates through a network of franchised locations across the United States, Australia, New Zealand, Canada, the United Kingdom, and Asia. As of 2022, the company had a market cap of 300.2M and a ROE of -60.11%.

F45 Training Holdings Inc is a popular fitness franchise because it offers members affordable and convenient fitness solutions. The company has locations in the United States, Australia, New Zealand, Canada, the United Kingdom, and Asia.

– Cedar Fair LP ($NYSE:FUN)

Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio. The company owns and operates eleven amusement parks, two outdoor water parks, one indoor water park, and five hotels. Cedar Fair also operates the Gilroy Gardens Family Theme Park in Gilroy, California under a management contract.

Cedar Fair’s revenue for 2021 was $1.32 billion, a decrease of $41 million from the previous year. The decrease was due to the COVID-19 pandemic, which caused the temporary closure of all of the company’s parks in 2020. Cedar Fair’s net income for 2021 was $164 million, a decrease of $41 million from the previous year.

Cedar Fair’s return on equity for 2021 was -24.98%, a decrease from the previous year’s return on equity of -20.21%. The decrease was due to the COVID-19 pandemic, which caused the temporary closure of all of the company’s parks in 2020.

Summary

Investors in LIFE TIME have good news to report, as the company’s total revenue for the second quarter of 2023 has increased by 21.8%, resulting in a net income of USD 17 million compared to a loss of USD 2.3 million reported in the same period last year. However, despite this positive news, the stock price of the company moved down on the same day. This is likely because investors were expecting more growth despite the impressive increase in revenue and profitability. Nevertheless, the improved performance of LIFE TIME suggests that investors can expect further growth in the future.