Life Time Group Q1 Profit Down, But Beats Estimates; Ups Annual Revenue Outlook Above View - Update

(RTTNews) - (Adds Outlook)

For the full year, Life Time Group Holdings, Inc. (LTH) has raised its revenue outlook to $2.5 billion - $2.53 billion from $2.46 billion - $2.5 billion. The consensus estimate stands at $2.48 billion.

Q1 Results:

For the first quarter, Life Time Group announced a profit that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $24.92 million, or $0.12 per share. This compares with $27.46 million, or $0.14 per share, in last year's first quarter.

Excluding items, Life Time Group Holdings, Inc. reported adjusted earnings of $30.53 million or $0.15 per share for the period.

Analysts on average had expected the company to earn $0.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.8% to $596.72 million from $510.85 million last year.

Life Time Group Holdings, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $24.92 Mln. vs. $27.46 Mln. last year. -EPS (Q1): $0.12 vs. $0.14 last year. -Revenue (Q1): $596.72 Mln vs. $510.85 Mln last year.