Life Time Group Holdings, Inc. (NYSE:LTH) Q1 2023 Earnings Conference Call April 25, 2023 10:00 AM ET
Company Participants
Ken Cooper - Investor Relations
Robert Houghton - Executive Vice President and Chief Financial Officer
Bahram Akradi - Founder, Chairman, and Chief Executive Officer
Conference Call Participants
John Heinbockel - Guggenheim Securities
Brian Nagel - Oppenheimer
Chris Carril - RBC Capital Markets
Brian Harbour - Morgan Stanley
Robert Ohmes - Bank of America
Daniel Politzer - Wells Fargo
Chris Woronka - Deutsche Bank
Simeon Siegel - BMO Capital Markets
John Baumgartner - Mizuho Securities
Operator
Good morning. Welcome to the Life Time Group Holdings First Quarter 2023 Earnings Conference Call. Please be advised that reproduction of this call in whole or in part is not permitted without written authorization from the company. As a reminder, this conference is being recorded.
I will now turn the call over to Ken Cooper with Investor Relations for Life Time.
Ken Cooper
Good morning, and thank you for joining us for the Life Time first quarter of 2023 earnings conference call. With me today are Bahram Akradi, Founder, Chairman and CEO; and Bob Houghton, CFO.
During this call, the company will make forward-looking statements, which involve a number of risks and uncertainties that may cause actual results to differ materially from those forward-looking statements made today. There is a comprehensive discussion of risk factors in the company's SEC filings, which you are encouraged to review. Also, the company will discuss certain non-GAAP financial measures, including adjusted EBITDA, net debt, free cash flow before growth capital expenditures and free cash flow.
For purposes of this call, free cash flow is defined as net cash provided by operating activities after total capital expenditures. This information, along with the reconciliations to the most directly comparable GAAP measures where possible and without unreasonable efforts are included in the company's earnings release issued this morning, our 8-K filed with the SEC and within the Investor Relations section of our website. Our website also includes a supplemental presentation pertaining to the delevering of our business, a topic that Bahram and Bob will address this morning.
I'm now pleased to turn the call over to Bob Houghton. Bob?
Robert Houghton
Thank you, Ken, and good morning to all our stakeholders on today's call. We appreciate you joining us this morning. I will briefly cover our first quarter 2023 results, the full details of which can be found in the earnings release we issued this morning. Bahram will then provide a bit more color on the quarter and how we will continue to grow our business, improve our profitability and reduce our leverage through the remainder of the year.