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Party City: 3Q Earnings Snapshot

November 9, 2020 GMT

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.

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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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRTY at https://www.zacks.com/ap/PRTY