Party City (PRTY) Misses Q4 EPS by 6c, Offers Outlook
Party City (NYSE: PRTY) reported Q4 EPS of $0.25, $0.06 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $648.2 million versus the consensus estimate of $648.25 million.
GUIDANCE:
Party City sees Q1 2021 revenue of $397-410 million, versus the consensus of $425.75 million.
Due to the continued uncertainty regarding the ongoing impacts of the COVID-19 pandemic and the associated complexity of forecasting, the Company is providing select annual 2021 guidance for financial measures that it believes it can reasonably forecast including interest expense, capital expenditures and store openings and closures.
- FY 2021 Interest expense of approximately $90 to $100 million
- FY 2021 Capital expenditures of approximately $70 to $80 million
- FY 2021 10 Net new stores (15 new openings and 5 closures)
The Company is providing the following fiscal first quarter 2021 outlook. This outlook is subject to potential consumer and marketplace volatility due to the COVID-19 pandemic:
- Total revenue of $397 to $410 million
- Brand comparable sales increase of 26% to 31% compared to first quarter 2020*
- GAAP net loss of $24 to $16 million with an assumed Q1 tax rate of 25%
- Adjusted EBITDA of $10 to $17 million
For earnings history and earnings-related data on Party City (PRTY) click here.