Consumer DemandThere is strong consumer demand and LTH's pricing power, with an estimated 5% year-over-year comparable-center sales growth for 2025.
Financial PerformanceQ3's solid beats on EBITDA, revenue, and EBITDA margin were the latest results of membership growth, high member engagement, and strong operating leverage.
Operational StrategyInvestments in programming and in-center revenue are delivering strong ROI while declining financial leverage and a long runway of capex-light future club expansions support a positive risk/reward for equity holders.