Tivity Health, Inc. (TVTY) Tops Q1 EPS by 7c, Revenues Beat; Offers FY21 EPS/Revenues Outlook

Tivity Health, Inc. (NASDAQ: TVTY) reported Q1 EPS of $0.40, $0.07 better than the analyst estimate of $0.33. Revenue for the quarter came in at $108.1 million versus the consensus estimate of $100.06 million.

First Quarter Highlights

• Revenue from continuing operations was $108.1 million during the first quarter of 2021;
• Income from continuing operations was $19.9 million, an increase of $11.7 million, or 141%, over the prior year;
• Adjusted EBITDA from continuing operations was $41.2 million, representing an increase of $11.0 million, or 36%, compared to the prior year;
• In-person SilverSneakers gym visits totaled 11.2 million for Q1 2021, growing by 19% over the fourth quarter of 2020;
• Virtual SilverSneakers visits accelerated, totaling 1.2 million during the quarter, a 50% increase over the fourth quarter of 2020, with 36% of virtual visit participants being new to SilverSneakers;
• The Company ended the quarter with cash on hand of $52.4 million and a leverage ratio of 2.11, as calculated under its credit agreement. During the first quarter of 2021, the Company prepaid $63.6 million of principal and amortization of term loan debt. The Company's next quarterly installment is not due until December 2022;
• A new comprehensive scientific study conducted by Avalere Health showed that total average healthcare expenses for SilverSneakers participants were 16% lower compared to non-participating Medicare Advantage members.

Richard Ashworth, President and Chief Executive Officer, commented, "We delivered strong results for the first quarter of 2021, allowing us to tighten the ranges on revenue and Adjusted EBITDA guidance for the full year. We successfully expanded our SilverSneakers virtual offerings by launching a new Roku application for viewing on-demand content and are on track to deploy our omni-channel capabilities by the start of the third quarter. These strategic initiatives combined with the continued momentum in the number of in-person visits give us optimism for the remainder of the year. The recent additions of our new Chief Information Officer (CIO) and Chief Experience and Innovation Officer (CXIO) underline our commitment to quickly expand our member-centric engagement through a robust platform which includes digital and in-person experiences."

GUIDANCE:

Tivity Health, Inc. sees FY2021 EPS of $1.49-$1.56, versus the consensus of $1.52. Tivity Health, Inc. sees FY2021 revenue of $465-485 million, versus the consensus of $470.62 million.

For earnings history and earnings-related data on Tivity Health, Inc. (TVTY) click here.

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