UPDATE: Party City (PRTY) Tops Q4 EPS by 1c, Beats on Revenues; Offers FY18 EPS Mid-Point Guidance Below Consensus, FY18 Revenue Mid-Point Outlook Above Estimates

Note: EPS may not be comparable

Party City (NYSE: PRTY) reported Q4 EPS of $0.81, $0.01 better than the analyst estimate of $0.80. Revenue for the quarter came in at $789.6 million versus the consensus estimate of $781.09 million.

• Fourth Quarter Total Revenues Increased 5.4% on Reported Basis and 4.7% in Constant Currency to $789.6 Million
• Fourth Quarter Reported EPS Increased to $1.58; Adjusted EPS Increased 6.6% to $0.81
• Full Year 2017 Total Revenues Increased 3.9%
• Full Year 2017 Reported EPS Increased to $1.79; Adjusted EPS Increased 7.8% to $1.24
• Gross profit margin increased 40 basis points in 2017, fueled by Share of Shelf1 gains of 300 bps
• Full year 2017 free cash flow2 increased by 11%, to $342.2 million

Fiscal 2018 Outlook:

For 2018, the Company is providing the following guidance:

• Total revenue of $2.44 to $2.49 billion
• Brand comparable sales growth of approximately 1%
• Adjusted EBITDA of $415 to $430 million
• Adjusted net income of $172 to $183 million
• Adjusted diluted EPS of $1.76 to $1.87
• Net debt leverage3 of approximately 3.8 times by the end of 2018
• GAAP net income of $143 to $154 million
• GAAP diluted EPS of $1.46 to $1.57

GUIDANCE:

Party City sees FY2018 EPS of $1.76-$1.87, versus the consensus of $1.83. Party City sees FY2018 revenue of $2.44-2.49 billion, versus the consensus of $2.46 billion.

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

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