Party City: 3Q Earnings Snapshot
ELMSFORD, N.Y. (AP) _ Party City Holdco Inc. (PRTY) on Monday reported third-quarter net income of $239.7 million, after reporting a loss in the same period a year earlier.
The Elmsford, New York-based company said it had profit of $2.24 per share. Earnings, adjusted for non-recurring gains, were 10 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 46 cents per share.
The party supplies retailer and wholesaler posted revenue of $533.8 million in the period.
For the current quarter ending in December, Party City expects its per-share earnings to range from 31 cents to 37 cents.
The company said it expects revenue in the range of $675 million to $695 million for the fiscal fourth quarter.
The company’s shares closed at $2.34. A year ago, they were trading at $2.