Life Time Group Preliminary Q3 Net Profit Surges

(RTTNews) - Life Time Group Holdings, Inc. (LTH), a provider of health, fitness, and wellness experiences, on Tuesday reported an increase in preliminary third-quarter result.

In addition, the company said that it has launched a process to refinance its 5.750 percent Senior Secured Notes, due 2026 and 8 percent Senior Notes, due 2026.

Erik Weaver, CFO of the Group, said: "Our business continues to deliver strong revenue and adjusted EBITDA growth as we further strengthen our balance sheet. We look forward to providing our full financial results on October 24."

For the three-month period to September 30, the company posted a net income of $41.4 million, higher than the $7.9 million, recorded for the same period last year.

Excluding items, earnings stood at $56.3 million, compared with prior year's $26.7 million.

Adjusted EBITDA was $180.3 million, up from $143 million a year ago.

Revenue was $693.2 million, up from the previous year's $585.2 million.