Welcome to our dedicated page for First Watch Restaurant Group news (Ticker: FWRG), a resource for investors and traders seeking the latest updates and insights on First Watch Restaurant Group stock.
First Watch Restaurant Group, Inc. operates a daytime dining restaurant concept built around made-to-order breakfast, brunch and lunch. Company updates focus on restaurant sales, franchise revenue, same-restaurant sales and traffic, restaurant-level operating profit, Adjusted EBITDA, and the pace of new system-wide openings across company-owned and franchise-owned locations.
Recurring announcements also cover fiscal outlooks, capital expenditures for new restaurant projects and remodels, market entries, investor conference participation, and governance or management changes. First Watch communications frequently distinguish comparable-restaurant performance from unit growth, giving context for how the brand expands while reporting results for its existing restaurant base.
First Watch Restaurant Group has appointed Stephanie Lilak, Chief People Officer at Bumble Inc., to its Board of Directors, effective June 17, 2022. This strategic move aims to leverage Lilak's extensive experience in human resources within the food and restaurant industry to enhance First Watch's growth and its 'You First' culture. Lilak's past roles include Chief Human Resources Officer at Dunkin’ Brands and over two decades in HR leadership at General Mills.
First Watch has launched a new seasonal menu featuring dishes inspired by authentic Mexican proteins. Available nationwide through August 14, the menu introduces items like the Barbacoa Quesadilla Benedict and Hacienda Hash, alongside refreshing seasonal drinks like Watermelon Wake-Up. The additions emphasize premium ingredients and vibrant flavors, responding to customer demand for new experiences. First Watch continues to operate its breakfast and brunch service seven days a week, focusing on freshness and quality.
First Watch Restaurant Group (NASDAQ: FWRG) announced participation in three upcoming investor conferences. The events include a fireside chat at Piper Sandler’s Year of the Restaurant Industry Summit on June 8, 2022, and Stifel’s 2022 Cross Sector Insight Conference on June 9, 2022. Additionally, a virtual fireside chat at the Jefferies Consumer Conference will begin on June 20, 2022, with in-person meetings on June 21-22. Investors can access live webcasts and recordings of the presentations on their investor relations website.
First Watch has partnered with the V Foundation for Cancer Research to support pediatric cancer initiatives. From every kids meal sold, 25 cents will be donated to the Dick Vitale Fund, aiming to raise approximately $500,000 in the first year. The initiative reflects First Watch's ongoing commitment to philanthropy and community support, recently highlighted by the V Foundation’s gala raising over $11 million. This partnership aligns with a broader mission to enhance funding for pediatric cancer research, with 100% of donations directed to this cause.
First Watch Restaurant Group, Inc. (NASDAQ: FWRG) reported a robust Q1 2022, with total revenues rising 36.1% to $173.1 million, driven by same-restaurant sales growth of 27.2% and traffic growth of 21.9%. The net income reached $4.6 million or $0.08 per diluted share, a significant recovery from a net loss of $(2.0) million in Q1 2021. Notably, the restaurant level operating profit margin increased to 19.6%. The company opened 7 new restaurants and reaffirmed its fiscal year 2022 guidance, expecting total revenue growth exceeding 15% and 30-35 new company-owned restaurants.
First Watch Restaurant Group (NASDAQ: FWRG) will release its first quarter 2022 financial results on May 10, 2022, before the market opens. The Company specializes in breakfast, brunch, and lunch and has over 435 locations across 28 states. A conference call and webcast will follow the release at 8:00 AM ET, hosted by CEO Chris Tomasso and CFO Mel Hope. Investors can listen by calling 412-317-5208 or via a webcast on the Company’s investor website.
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First Watch Restaurant Group (NASDAQ: FWRG) reported a strong financial performance for Q4 2021 and fiscal year 2021. Total revenues reached $601.2 million, with Q4 revenues of $162.6 million, a 48.7% increase from Q4 2020. Same-restaurant sales grew 36.7% year-over-year. The company opened 31 new restaurants in 2021, increasing total system-wide locations to 435. For 2022, First Watch forecasts same-restaurant sales growth in the high-single digits and revenue growth exceeding 15%.
First Watch Restaurant Group (NASDAQ: FWRG) will release its fourth quarter and fiscal year 2021 financial results on March 23, 2022, before the market opens. A conference call hosted by CEO Chris Tomasso and CFO Mel Hope will occur at 8:00 AM ET on the same day. Interested parties can access the call via telephone or webcast. First Watch is recognized for its award-winning Daytime Dining concept, focusing on fresh ingredients for breakfast, brunch, and lunch, with over 430 locations across 28 states.
First Watch Restaurant Group has announced strong preliminary results for the fourth quarter of fiscal 2021, reporting a remarkable 36.7% growth in same-restaurant sales. This growth is attributed to a surge in same-restaurant traffic by over 30%, continuing a trend of positive sales over 28 consecutive quarters pre-pandemic. The company opened 8 new restaurants in the quarter, bringing its total to 435 system-wide. Management expects Adjusted EBITDA for the quarter to exceed previous guidance of $10.2 million to $11.2 million.