Life Time's Q1 Earnings Surpass Street View Aided By Pandemic Recovery

Athletic country club destination Life Time Group Holdings Inc LTH reported first-quarter FY21 sales growth of 57.3% year-on-year to $392.3 million, beating the consensus of $356.56 million.
Comparable center sales increased 50.3%. Center memberships rose 23.8% Y/Y.
The operating expenses for the quarter rose 21.6% to $403.2 million.
The operating loss for the quarter totaled $(10.9) million.
The company held $41.1 million in cash and equivalents as of March 31, 2022.
Adjusted EBITDA for the quarter was $40.6 million versus a loss of $(18.9) million last year.
EPS loss of $(0.20) beat the analyst consensus of $(0.41).
Outlook: Life Time Group sees Q2 sales of $450 million - $470 million versus the consensus of $450.93 million.
The company expects Q2 adjusted EBITDA of $63 million - $68 million, and net loss of $(25) million - $(20) million.
Price Action: LTH shares are trading higher by 3.02% at $12.47 on the last check Wednesday.