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

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.

First Watch Restaurant Group (FWRG) announced a virtual fireside chat at the 24th Annual ICR Conference on January 10, 2022, at 3:30 PM ET. CEO Christopher A. Tomasso and CFO Mel Hope will discuss the company's daytime dining concept, serving breakfast, brunch, and lunch. This chat will be available live on their Investor Relations website and archived afterward. The company will also participate in the Jefferies 11th Annual Winter Summit on January 24-25, 2022. First Watch operates over 425 restaurants across 28 states and has received numerous accolades for its menu.

First Watch Restaurant Group has launched a seasonal menu featuring premium ingredients available nationwide until March 13. The menu includes three new offerings: the Trailblazer Bowl, Carnitas Breakfast Burrito, and Superseed Protein Pancakes, alongside the popular Purple Haze juice. The new items cater to health-conscious diners without sacrificing flavor, aiming to reset healthy eating post-holiday season. The restaurant chain, which operates over 420 locations, is majority-owned by Advent International.

First Watch Restaurant Group (FWRG) announced a virtual fireside chat with CEO Christopher Tomasso and CFO Mel Hope at the Barclays Eat Sleep Play Conference on December 1, 2021, at 9:45 a.m. Eastern Time. This event will be available for live streaming on the Company’s Investor Relations website and archived afterward. First Watch is known for its breakfast, brunch, and lunch offerings, with over 425 locations across 28 states.

First Watch Restaurant Group (NASDAQ: FWRG) reported a remarkable 57.8% increase in total revenues, reaching $157.4 million for Q3 2021. This growth was primarily driven by a 46.2% rise in same-restaurant sales and a 40.1% increase in traffic. The company achieved a net income of $0.8 million or $0.02 per diluted share, compared to a net loss of $11.1 million in the prior year. The outlook for Q4 anticipates same-restaurant sales growth of 31.5% to 33.5% and adjusted EBITDA of $10.2 million to $11.2 million.

First Watch Restaurant Group (NASDAQ: FWRG) reported a strong performance for the third quarter ended September 26, 2021, with revenues soaring to $157.4 million, a 57.8% increase year-over-year. Same-restaurant sales grew 46.2%, while same-restaurant traffic rose 40.1%. The company achieved a net income of $0.8 million, or $0.02 per diluted share, reversing the net loss of $11.1 million in the prior year. Adjusted EBITDA surged to $17.0 million from $2.6 million. The company plans to open seven company-owned and two franchise-owned restaurants in the upcoming fourth quarter.

First Watch has launched a new seasonal menu featuring a variety of spicy, sweet, and savory dishes, including the Million Dollar Breakfast Sandwich that incorporates Mike's Hot Honey. Available nationwide until January 2, 2022, this menu includes highlights like Short Rib Poutine Hash and Cinnamon Chip Pancake Breakfast. The new offerings complement First Watch's established breakfast, brunch, and lunch options, enhancing customer experience during the winter season. For more information, visit First Watch's official website.

First Watch Restaurant Group (FWRG) will report its third quarter 2021 financial results on November 8, 2021, after market close. A conference call is scheduled for November 9, 2021, at 8:00 AM ET, hosted by CEO Chris Tomasso and CFO Mel Hope. Interested parties can listen via telephone or streaming on the company’s investor relations website. First Watch operates over 420 restaurants across 28 states, offering a variety of daytime dining options, including breakfast, brunch, and lunch, with a focus on fresh ingredients.

First Watch Restaurant Group, Inc. (FWRG) announced the successful closing of its initial public offering, raising approximately $195.8 million by selling 10,877,850 shares at $18.00 each. The offering included the underwriters' additional purchase option of 1,418,850 shares. Trading began on Nasdaq on October 1, 2021. The offering was managed by BofA Securities, Goldman Sachs, and Jefferies, among others. First Watch operates over 420 restaurants across 28 states, focusing on made-to-order daytime dining, and is majority-owned by Advent International.