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Party City profit misses consensus by 92.4% in Q3

Party City Holdco Inc. said its normalized net income for the third quarter came to $1.1 million, compared with a loss of $6.1 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 0.2% from negative 1.1% in the year-earlier period.

Total revenue climbed year over year to $555.4 million from $542.7 million, and total operating expenses increased on an annual basis to $523.9 million from $513.3 million.

Reported net income totaled a loss of $44.1 million, or a loss of 37 cents per share, compared to a loss of $5.6 million, or a loss of 6 cents per share, in the year-earlier period.