Party City (PRTY) Reports In-Line Q3 EPS, Approves $100M Buyback

Party City (NYSE: PRTY) reported Q3 EPS of $0.13, in-line with the analyst estimate of $0.13. Revenue for the quarter came in at $560.1 million versus the consensus estimate of $587.77 million.

Share Repurchase Program:

The Company also announced today that its Board of Directors has approved a share repurchase program under which the Company may purchase up to $100 million of its outstanding common shares from time to time, depending upon a variety of factors, including market and industry conditions, share price, regulatory requirements and other corporate considerations, as determined by the Company from time to time. The authorization expires on November 12, 2018, subject to extension or earlier termination by the Board of Directors. The Company may purchase shares of its common stock in open-market and/or privately negotiated transactions in accordance with applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, and repurchases may be executed pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. The authorization may be suspended or discontinued at any time without notice.

GUIDANCE:

Party City sees FY2017 EPS of $1.21-$1.25, versus the consensus of $1.28. Party City sees FY2017 revenue of $2.36-2.39 billion, versus the consensus of $2.4 billion.

For earnings history and earnings-related data on Party City (PRTY) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Reading (RDI) Tops Q2 EPS by 4c
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery