White Brook Capital’s Thoughts and Views, White Brook Capital

White Brook Capital

White Brook Capital’s Thoughts and Views

White Brook Capital LLC is a socially responsible, investment advisory firm founded in 2016, based in Chicago. The Company invests separately managed accounts and manages the White Brook Capital Partners fund for qualified investors

Equity Bottom-Up

<ul><li>2024 was a forgettable year for White Brook Capital’s middle capitalization focused fund.</li><li>Our fortunes have reversed so far in 2025 as several of our portfolio companies have preannounced 4th quarter results and given constructive 2025 guidance.</li><li>We’ve had a good first 3 weeks of 2025 and are looking forward to a much better year.</li></ul>

2024 was a forgettable year for White Brook Capital’s middle capitalization focused fund.Our fortunes have reversed so far in 2025 as several of our portfolio companies have preannounced 4th quarter results and given constructive 2025 guidance.We’ve had a good first 3 weeks of 2025 and are looking forward to a much better year.

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Life Time Group Holdings / Equity Bottom-Up

<ul><li>Life Time Group Holdings, Inc. recently discussed its financial results for the second quarter of 2024, reflecting a period of strong performance across multiple metrics.</li><li>The company reported a 19% increase in total revenue, reaching $668 million, compared to the same period last year.</li><li>This growth was primarily driven by a 20% increase in membership dues and enrollment fees, along with an 18% rise in incentive revenue.</li></ul>

Life Time Group Holdings, Inc. recently discussed its financial results for the second quarter of 2024, reflecting a period of strong performance across multiple metrics.The company reported a 19% increase in total revenue, reaching $668 million, compared to the same period last year.This growth was primarily driven by a 20% increase in membership dues and enrollment fees, along with an 18% rise in incentive revenue.

Life Time Group Holdings: Real Estate Pipeline Expansion & Other Major Drivers

<ul><li>Life Time Group Holdings, Inc. showcased a strong financial performance in the first quarter of 2024, although there were some mixed aspects within the results.</li><li>The company reported a notable increase in total revenue, which rose by 16.8% to $596.7 million from the year earlier.</li><li>This rise was predominantly fueled by a 19% growth in membership dues and enrollment fees and a 10.5% uptick in in-center revenue.</li></ul>

Life Time Group Holdings, Inc. showcased a strong financial performance in the first quarter of 2024, although there were some mixed aspects within the results.The company reported a notable increase in total revenue, which rose by 16.8% to $596.7 million from the year earlier.This rise was predominantly fueled by a 19% growth in membership dues and enrollment fees and a 10.5% uptick in in-center revenue.

Life Time Group Holdings Inc.: The Enhanced Member Retention & 3 Critical Factors Driving Our Optimism! - Financial Forecasts

<ul><li>Life Time Group Holdings, Inc.'s Q4 2023 earnings call emphasized impressive financial performance and strategic growth plans.</li><li>The revenue increased by 18.2% in Q4, driven by a rise of 20.9% in membership dues and enrollment fees, and an 11% increase in in-center revenue.</li><li>Access memberships increased by 5.2%, ending the year with over 763,000 memberships, while average monthly dues stood at $183, a rise of 13.2% from the previous year.</li></ul>

Life Time Group Holdings, Inc.'s Q4 2023 earnings call emphasized impressive financial performance and strategic growth plans.The revenue increased by 18.2% in Q4, driven by a rise of 20.9% in membership dues and enrollment fees, and an 11% increase in in-center revenue.Access memberships increased by 5.2%, ending the year with over 763,000 memberships, while average monthly dues stood at $183, a rise of 13.2% from the previous year.

Life Time Group Holdings Inc.: Initiation Of Coverage - Unveiling the 4 Major Forces Propelling Its Success! - Major Drivers

Fundamental Short Selling Research

Eric Fernandez, CFA

TwoRiversAnalytics

<ul>
<li>This model seeks companies facing dangerously high leverage coupled with negative or declining cash flows.  It considers interest expense, capex and short term maturities for additional input. </li>
<li>The companies may not be viable given cash flows and capital structures.  These shorts tend to have  higher betas  and can have strong down moves as the crisis is recognized.</li>
<li>This week we flag: Peleton, Life Time Group, Cano Health, Cinemark</li>
</ul>


This model seeks companies facing dangerously high leverage coupled with negative or declining cash flows.  It considers interest expense, capex and short term maturities for additional input. 
The companies may not be viable given cash flows and capital structures.  These shorts tend to have  higher betas  and can have strong down moves as the crisis is recognized.
This week we flag: Peleton, Life Time Group, Cano Health, Cinemark


Solvency Risk Short Candidates: Peloton, Life Time Group, Cano Health, Cinemark

United States

Life Time Group Holdings, Inc. operates as a health, fitness, and wellness company. The Company offers itness floors with equipment, locker rooms, group fitness studios, indoor and outdoor pools and bistros, tennis and basketball courts, spa, and kids academy learning spaces.

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Life Time Group Holdings (LTH US)

WBC Partners Position Overview

Our fortunes have reversed so far in 2025 as several of our portfolio companies have preannounced 4th quarter results and given constructive 2025...

White Brook Capital

Life Time Group Holdings: Real Estate Pipeline Expansion & Other Major Drivers

Life Time Group Holdings, Inc. recently discussed its financial results for the second quarter of 2024, reflecting a period of strong performance...

Baptista Research

Life Time Group Holdings Inc.: The Enhanced Member Retention & 3 Critical Factors Driving Our Optimism! - Financial Forecasts

Life Time Group Holdings, Inc. showcased a strong financial performance in the first quarter of 2024, although there were some mixed aspects...

Baptista Research

Life Time Group Holdings Inc.: Initiation Of Coverage - Unveiling the 4 Major Forces Propelling Its Success! - Major Drivers

Life Time Group Holdings, Inc.'s Q4 2023 earnings call emphasized impressive financial performance and strategic growth plans. The revenue...

Baptista Research

Solvency Risk Short Candidates: Peloton, Life Time Group, Cano Health, Cinemark

This model seeks companies facing dangerously high leverage coupled with negative or declining cash flows. This week we flag: Peloton, Life Time...

Eric Fernandez, CFA

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