First Watch Restaurant Group, Inc. Stock Price, News & Analysis

First Watch Restaurant Group (NASDAQ: FWRG) reported mixed Q2 2025 results with strong revenue growth but compressed margins. Total revenues increased 19.1% to $307.9 million, driven by system-wide sales growth of 15.8% to $346.2 million. The company achieved positive same-restaurant sales growth of 3.5% and traffic growth of 2.0%.

The company reached a significant milestone of 600 system-wide restaurants after opening 17 new locations across 8 states during Q2. However, profitability metrics declined with net income decreasing to $2.1 million ($0.03 per share) from $8.9 million in Q2 2024, and Adjusted EBITDA falling to $30.4 million.

First Watch raised its 2025 Adjusted EBITDA guidance to $119.0-$123.0 million and maintained its expansion plans for 59-64 new system-wide restaurants for the year.

First Watch Restaurant Group (NASDAQ: FWRG), the leading Daytime Dining concept, has scheduled its second quarter 2025 financial results release for Tuesday, August 5, 2025, before market opening.

The company will host a conference call and webcast at 8:00 AM ET on the same day, featuring CEO and President Chris Tomasso and CFO Mel Hope. Participants can join through three options: direct dial-in, pre-registration link, or webcast via the investor relations website.

First Watch Restaurant Group (NASDAQ: FWRG), a leading Daytime Dining concept specializing in breakfast, brunch, and lunch, has announced its participation in two major investor conferences in June 2025. The company will present at TD Cowen's 9th Annual Future of the Consumer Conference in New York City, featuring a fireside chat on June 3 at 10:15 AM ET, which will be webcast live and archived on their investor relations website. Management will also conduct meetings with institutional investors on June 2-3. Additionally, First Watch will meet with institutional investors at the Jefferies Consumer Conference in Nantucket, Mass., on June 17-18, 2025.

First Watch Restaurant Group (NASDAQ: FWRG) reported mixed Q1 2025 financial results. Total revenues increased 16.4% to $282.2 million, while system-wide sales grew 11.5% to $323.0 million. However, the company posted a net loss of $(0.8) million, down from $7.2 million profit in Q1 2024. Same-restaurant sales grew modestly at 0.7%, while traffic declined 0.7%. Operating margins decreased significantly, with restaurant level operating profit margin falling to 16.5% from 20.8%. The company maintained its expansion momentum, opening 13 new system-wide restaurants across 10 states, reaching a total of 584 locations. For fiscal year 2025, First Watch updated its guidance, projecting Adjusted EBITDA of $114-119 million and maintaining its target of 59-64 new system-wide restaurants with total revenue growth of ~20%.

First Watch Restaurant Group has completed the acquisition of 16 franchise-owned restaurants in North and South Carolina for $49 million, marking its second-largest franchisee deal in company history. The strategic purchase includes locations in the Charlotte and Concord markets in North Carolina, and the Columbia and Greenville markets in South Carolina.

Key highlights of the acquisition:

• Strengthens corporate ownership along the East Coast
• Adds over 500 new employees to the corporate system
• Secures additional territories for future organic growth
• Expected to generate unit volumes and restaurant-level operating profit margins aligned with company-owned locations

This transaction continues First Watch's expansion strategy, bringing their total franchise acquisitions to 64 restaurants across eight deals since May 2023. The deal was completed on a cash-free, debt-free basis, reinforcing the company's position as a leading Daytime Dining concept serving breakfast, brunch and lunch.

First Watch Restaurant Group (NASDAQ: FWRG) announced plans to open its flagship downtown Boston location at 777 Boylston St. in late 2025, marking its continued New England expansion. This follows the company's first Massachusetts location opening in Hanover in January.

The Back Bay restaurant will feature:

• Fresh, chef-driven breakfast and brunch menu
• Made-to-order dishes using cage-free eggs and organic ingredients
• Kitchen without heat lamps, microwaves, or deep fryers
• Outdoor dining patio
• Boston-inspired custom mural by local artist

The location will create approximately 30 new jobs and partner with Dana-Farber Cancer Institute and Jimmy Fund for pre-opening fundraising. The restaurant will operate daily from 7 a.m. to 2:30 p.m., maintaining First Watch's 'No Night Shifts Ever' policy.

First Watch Restaurant Group (NASDAQ: FWRG), the leading Daytime Dining concept specializing in breakfast, brunch and lunch, has scheduled the release of its first quarter 2025 financial results for Tuesday, May 6, 2025, before market opening.

The company will host a conference call and webcast at 8:00 AM ET on the same day, featuring CEO and President Chris Tomasso and CFO Mel Hope. Participants can join through three options: direct dial-in (201-389-0914), pre-registration via Call Me™ link, or webcast at the investor relations website.

First Watch Restaurant Group (NASDAQ: FWRG) has announced the acquisition of three franchise-owned restaurants in Missouri, including locations in Lee's Summit, West Columbia, and South Columbia. The deal also includes corresponding development rights in these areas.

These restaurants, all opened within the past five years, will now be integrated into First Watch's company-owned system. This acquisition aligns with the company's long-term growth and value creation strategy, marking their seventh franchise acquisition since May 2023, bringing the total number of acquired franchised restaurants to 48.

The company plans to provide additional transaction details during their first fiscal quarter earnings report for the period ended March 30, 2025.

First Watch Restaurant Group (NASDAQ: FWRG) reported its 2024 financial results, marking a pivotal year with total revenues exceeding $1.0 billion, up 13.9% year-over-year, and system-wide sales reaching $1.2 billion, up 7.4%.

Key financial metrics include:

• Net income of $18.9 million
• Adjusted EBITDA of $113.8 million
• Income from operations margin of 3.9%
• Restaurant level operating profit margin of 20.1%

The company expanded its footprint with 50 new system-wide restaurants across 19 states in 2024, reaching a total of 572 locations. For 2025, First Watch projects total revenue growth of ~20.0% and plans to open 59-64 new system-wide restaurants. The company maintains its long-term vision of potentially operating more than 2,200 restaurants in the United States.