Party City Shares Tumble Again after Q3'22 Earnings and Outlook

Party City's shares fell sharply on the back of its results, in which it indicated that its October profitability was below its expectations and it lowered its FY'22 EBITDA forecast. Party City expects US$20mm of incremental costs from helium in 2022. It said that it has been able to source all the supply it requires in Q3 and hasn't had to resort to the spot market. Anagram's sales (wholesale supply of balloons to retailers) have been impacted as its customers have had helium sourcing issues.

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