Life Time Group Expects 2024 Revenue Of $2.46B-$2.5B Vs. $2.46B Consensus And Adjusted EBITDA OF $595M-$610M

Author: Benzinga Newsdesk | February 28, 2024 08:20am

Full-Year 2024 Guidance
					Percent
	Year Ended		Year Ended		Change
	December 31, 2024		December 31, 2023		(Using
($ in millions)	(Guidance)		(Actual)		Midpoints)
Revenue	$2,460 – $2,500		$2,216.6		11.9 %
Adjusted EBITDA	$595 – $610		$536.8		12.2 %
Rent	$300 – $312		$275.1		11.2 %

Additional 2024 Outlook Information:

• We expect to continue to reduce our net debt leverage ratio towards our target of 3.0x by December 31, 2024
• We expect to be free cash flow positive beginning in the second quarter of 2024
• We plan to open 9-10 new centers in 2024
• We expect rent expense to include non-cash rent expense of $35 million to $40 million for the year
• We anticipate being able to offset a large portion of our 2024 cash taxes by utilizing a portion of our net operating loss carryforwards from the COVID-19 pandemic

Posted In: LTH