Life Time Beats on Q3 Earnings and Revenue, Posts 14.2% Growth
LTH sits 87% above its 52-week low of $24.14.
Summary
Life Time beat on both lines for the September quarter: adjusted EPS of 46 cents versus the 42 cent consensus, and revenue up 14.2% to $893.52 million against $874.67 million expected. Net income came in at $106.49 million. This is the fourth straight quarter of beats, following 45 cents in June, 39 cents in March and 54 cents in December. The stock is trading near its 52-week high of $47.32, up 62.3% year to date, so expectations were already elevated. The 8-K filed this morning also raised full-year guidance, which is the bigger driver than the headline beat itself.
At the time of this announcement, LTH was trading at $45.07 on NYSE in the Trade & Services sector, with a market capitalization of approximately $10.1B. The 52-week trading range was $24.14 to $47.32. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.