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

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.

First Watch Restaurant Group (NASDAQ: FWRG), a leading Daytime Dining concept, announced it will release its fourth quarter and fiscal year 2024 financial results on March 11, 2025, before the market opens. Following the release, a conference call and webcast will be held at 8:00 AM ET, hosted by CEO Chris Tomasso and CFO Mel Hope. Interested parties can listen to the call by dialing 201-389-0914, pre-registering via a Call Me™ link, or joining the webcast at the company's investor relations website. The webcast will be archived shortly after the call concludes. Participants are advised to access the call at least 10 minutes prior to the scheduled start.

First Watch Restaurant Group (NASDAQ: FWRG) has released preliminary operational metrics for Q4 and fiscal year 2024. The company reported a -0.3% same-restaurant sales growth and -3.0% same-restaurant traffic growth in Q4 2024. During the quarter, First Watch achieved its target of 25 new restaurant openings, including 23 company-owned and 2 franchise-owned locations.

For the full fiscal year 2024, the company opened 50 system-wide new restaurants (43 company-owned and 7 franchise-owned) with only two closures. As of December 29, 2024, First Watch operated 572 system-wide restaurants across 29 states, comprising 489 company-owned and 83 franchise-owned locations. Some new restaurant openings experienced minor delays, resulting in fewer Q4 operating weeks than planned.

First Watch Restaurant Group, Inc. (Nasdaq: FWRG), a leader in Daytime Dining, announced participation in two key conferences. CEO Chris Tomasso and CFO Mel Hope will represent the company.

The first engagement is at the 27th Annual ICR Conference on Jan. 14, 2025, where they will host a fireside chat at 10:00 AM ET. The event will be accessible online in the News & Events section of their investor website and archived post-conclusion. Additionally, management will conduct meetings with institutional investors on Jan. 13-14, 2025.

The second event is the Jefferies SMid Cap Consumer Summit on Jan. 28, 2025, where the company will again host meetings with institutional investors. Interested parties are advised to contact their Jefferies salesperson to arrange a meeting.

First Watch Restaurant Group (NASDAQ: FWRG) has announced the pricing of a secondary offering of 8,000,000 shares of common stock at $19.95 per share. The offering is being conducted by certain funds managed by Advent International, L.P., who will receive all proceeds. Goldman Sachs & Co. is acting as the sole underwriter. The underwriter has a 30-day option to purchase up to an additional 1,200,000 shares. The offering is expected to close on November 13, 2024. FWRG will not receive any proceeds from this transaction as it is not selling any shares in the offering.

First Watch Restaurant Group (NASDAQ: FWRG) has announced a secondary offering of 8,000,000 shares of common stock by Advent International funds. The underwriter, Goldman Sachs & Co. , has a 30-day option to purchase an additional 1,200,000 shares. All proceeds will go to the selling stockholders, with FWRG not receiving any proceeds from the offering. The offering is being made through an effective shelf registration statement filed with the SEC.

First Watch Restaurant Group (NASDAQ: FWRG) announces a special World Kindness Day initiative on November 13, offering 15,000 free cinnamon rolls for customers to pay forward as acts of kindness. The first 50 dine-in guests at participating locations will receive a complimentary Stay Golden Cinnamon Roll to-go when mentioning the word 'kindness.' The promotion requires an in-restaurant purchase and is available while supplies last. The featured cinnamon roll, part of First Watch's seasonal Holiday menu, comes with lemon cream cheese icing and gold sprinkles.

First Watch Restaurant Group (NASDAQ: FWRG) has announced plans to acquire 16 franchise restaurants in North and South Carolina for $49 million on a cash-free, debt-free basis. The deal includes 15 existing franchise-owned restaurants, one under construction, and corresponding development rights in both states. This marks the second-largest franchisee acquisition in First Watch's history and follows six previous accretive acquisitions totaling 45 franchised restaurants since May 2023. The transaction is expected to close by mid-April 2025 and will be funded through cash on hand and available credit facility borrowings. The company expects these restaurants to generate unit volumes and operating profit margins comparable to their company-owned locations.