Party City Reports Second Quarter 2022 Results and Updates 2022 Business Outlook
Party City Holdco Inc. (PRTY)
Last party city holdco inc. earnings: 3/12 06:55 am
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US:NYSE Investor Relations:
investor.partycity.com/investors/default.aspx
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Source: GlobeNewswire
Total Net Sales of $527.4 million; Comparable Sales decreased 5.6% versus prior year and increased 12.2% versus 2019 GAAP Net Income of $162.2 million; Adjusted EBITDA of $45.8 million ELMSFORD, N.Y., Aug. 08, 2022 (GLOBE NEWSWIRE) -- Party City Holdco Inc. (the “Company” or “PRTY”; NYSE:PRTY) today announced financial results for the quarter ended June 30, 2022. Brad Weston, Chief Executive Officer of Party City, stated, “Our second quarter topline results were largely as expected as we lapped a strong Q2 last year while cost headwinds, which are predominantly transitory in nature, pressured profitability. We are seeing benefits from the transformation work we have accomplished over the last 2 years, which is evidenced by our strong sales results compared to pre-pandemic levels.” Mr. Weston added, “For the back half of the year, we continue to expect the supply chain volatility and inflationary pressures to persist and as a result, are revising our full year outlook. Given the
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