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Why Life Time's Stock Dropped 13.6% Today

TheMotleyFool

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Why Life Time's Stock Dropped 13.6% Today: https://g.foolcdn.com/editorial/images/752239/working-out-in-gym.jpg

Life Time Group (NYSE: LTH) reported third-quarter 2023 financial results this morning and investors weren't pleased with the results. Shares dropped as much as 13.6% in early trading and are down 12% at 11:45 a.m. ET.

The fitness company keeps growing as it scales gyms and raises prices, but if that doesn't translate to the bottom line it's hard to see value in the stock.

Overall, revenue rose 17.9% to $585.2 million but net income fell from $24.7 million a year ago to $7.9 million, or $0.04 per share. On an adjusted basis, earnings were $26.7 million, or $0.13 per share.

Source Fool.com

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