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Based on information as of December 26, 2023, Life Time Group Holdings, Inc. ("Life Time," "we," "our," "us," or the "Company") (NYSE:LTH) today 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.
Fourth Quarter 2023 Guidance (based upon range midpoints):
Full-Year 2023 Guidance (based upon range midpoints):
Bahram Akradi, Founder, Chairman and CEO, stated: "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."
Posted In: LTH