Party City (PRTY) Misses Q3 EPS by $1.46

Party City (NYSE: PRTY) reported Q3 EPS of ($1.39), $1.46 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $502.2 million versus the consensus estimate of $548.4 million.

GUIDANCE:

Party City sees FY2022 revenue of $2.14-2.19 billion, versus the consensus of $2.16 billion.

• Net sales of $2.140 billion to $2.190 billion or a change of approximately -1% to 1% versus 2021
• Brand comp sales decrease of approximately -3% to -1%
• GAAP net loss of approximately $199 million to $184 million
• Adjusted EBITDA of approximately $130 million* to $150 million*
• 80 to 85 new Next Generation stores, with a combination of new openings and remodels
• Capital Expenditures of approximately $90 to $100 million or $60 to $70 million net of tenant improvement allowances

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

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