Life Time Group Holdings Inc (LTH)

Shares of Life Time group Holdings (LTH) dropped by 15.24% from $14.30 to $12.12 in the trading on Wednesday, October 25, 2023. The reason why LTH stock down is due to lower-than-expected third-quarter results

• While revenue increased by 17.9% to $585.2 million, net income declined from $24.7 million to $7.9 million (or $0.04 per share) compared to the previous year. Adjusted earnings were $0.13 per share, falling short of analysts' expectations of $0.15 per share earnings on $586 million in revenue.
• The outlook for the fourth quarter didn't inspire confidence, with management anticipating revenue between** $555 million and $565 million**, and net income in the range of $14 million to $17 million. Despite an 11.1% increase in membership dues in the first nine months of the year, rising costs related to club operations weighed on profitability. Given the challenges of further increasing membership fees and economic uncertainties, investors appear cautious, leading to the stock's decline.

Life Time Group Holdings (LTH) stocks declined 8.36% to $15.02 after the company opening its largest outdoor pickleball development with 22 new courts opening adjacent to its Kingwood club in Humble, Texas on Sept. 15.

https://finance.yahoo.com/news/life-time-continues-pickleball-expansion-120000846.html