LTH - Life Time Group slips after warning on slower recovery than anticipated

Life Time Group Holding ( NYSE: LTH ) fell in early trading after setting guidance below expectations. The fitness club operator said it is seeing macroeconomic headwinds that may slow down the near-term recovery.

During Q2, comparable center sales increased 36.2% and total revenue was up 42.7%. Center memberships were up 10.2% to 724,778 at the end of the quarter.

Adjusted EBITDA jumped to $63.1M from $4.2M a year ago.

Looking ahead, LTH sees Q3 revenue of $490M to 510M vs. $517M consensus and full-year revenue of $1.80B to $1.85B vs. $1.88B consensus. The company said the new athletic country club pipeline remains strong with 12 planned openings this year and 11 or more in 2023.

Shares of Life Time Group ( LTH ) fell 1.89% in premarket action to $15.09. LTH trades just slightly lower than its 200-day moving average.

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