Life Time Group Falls Following Q2 Earnings Miss, Outlook

(RTTNews) - Shares of Life Time Group Holdings, Inc. (LTH), a holding company for lifestyle brands, are falling more than 11% Tuesday morning after reporting second-quarter earnings, that missed analysts' view. The company's third-quarter revenue outlook also came in below consensus estimates.

Life Time Group reported a net income of $17 million or $0.08 per share for the second quarter, compared with a loss of $2.23 million or $0.01 per share in the same quarter a year ago.

Analysts on average, polled by Thomson-Reuters were expecting earnings of $0.10 for the quarter.

Quarterly revenue increased to $561.73 million from $461.27 million last year. The consensus estimate was for $556.34 million.

Looking forward, the company expects third-quarter revenue to be in the range of $585 million - $595 million. Analysts expect revenue of $601.75 million for the quarter.

LTH, currently at $19.08, has been trading in the range of $8.75 - $22.41 in the last 1 year.