Life Time Group reports Q1 EPS 14c, consensus 6c

Reports Q1 revenue $510.85M, consensus $508.1M. Reports Q1 comparable center revenue up 24.6%. Bahram Akradi, Founder, Chairman and CEO, stated: "We are very pleased with our start to fiscal 2023. We delivered record levels of revenue and Adjusted EBITDA for the first quarter. We also delivered sequential revenue, profit and margin improvements over our strong fourth quarter 2022 performance. All of our strategic initiatives, together with our rewiring of the Company, are delivering increasing revenue and higher margins. We are successfully opening new clubs, with faster ramping, in desirable locations across the country. With the solid momentum in our business, we are raising our full year Adjusted EBITDA guidance to $470 to $490 million."