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Party City meets 3Q profit forecasts

ELMSFORD, N.Y. (AP) _ Party City Holdco Inc. (PRTY) on Thursday reported third-quarter profit of $10.1 million.

The Elmsford, New York-based company said it had profit of 8 cents per share. Earnings, adjusted for one-time gains and costs, were 13 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 13 cents per share.

The party supplies retailer and wholesaler posted revenue of $560.1 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $587.5 million.

Party City expects full-year earnings in the range of $1.21 to $1.25 per share, with revenue in the range of $2.36 billion to $2.39 billion.

Party City shares have decreased 31 percent since the beginning of the year. The stock has fallen 36 percent in the last 12 months.

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