By Dean Seal
Shares of Life Time Group Holdings rose after the company reported preliminary fourth-quarter results and introduced guidance that came in above analyst expectations.
The stock was up 8.5% at $27.20 in the afternoon trading session. Shares were trading at around $14.32 this time a year ago.
The operator of fitness and spa centers said Thursday morning that revenue is estimated to have risen more than 18% to between $661 million and $663 million for the last three months of 2024. The figure tops current analyst forecasts for $646.7 million, according to FactSet.
Life Time is also expecting to post $31 million to $33 million in net income for the quarter, or 14 cents to 15 cents a share. Analysts polled by FactSet had been targeting 12 cents a share.
For 2025, the company is guiding for total revenue to jump 12% to between $2.91 billion and $2.97 billion, surpassing current analyst estimates for $2.89 billion. Full-year earnings are projected to be up 75% year-over-year at $262 million to $269 million.
Life Time will report full fourth-quarter results at the end of February.
(END) Dow Jones Newswires
January 16, 2025 15:22 ET (20:22 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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