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. (NASDAQ: FWRG) is a full-service restaurant company behind First Watch, a daytime dining brand focused on made-to-order breakfast, brunch and lunch. News about FWRG often centers on its restaurant expansion, operating performance and participation in investor events, reflecting its role as a publicly traded company in the full-service restaurant industry.
Company press releases highlight ongoing development of the First Watch system, including new openings across multiple states and entries into new markets such as North Las Vegas and Boston’s Back Bay. These announcements frequently describe new restaurant features, local community partnerships and grand opening celebrations, providing insight into how the brand introduces its concept in different regions.
Investors following FWRG news will also see regular updates on quarterly and annual performance. The company issues releases on financial results, same-restaurant sales growth, same-restaurant traffic growth and system-wide restaurant counts. It explains key operating metrics such as system-wide restaurants, system-wide sales, same-restaurant sales growth and same-restaurant traffic growth, as well as non-GAAP measures like Adjusted EBITDA and restaurant level operating profit.
Additional news items cover First Watch’s participation in investor conferences, secondary offerings by selling shareholders and changes in corporate governance, such as board appointments. These updates give context on how the company engages with the capital markets and institutional investors.
For readers tracking FWRG, this news stream offers a view into restaurant openings, brand expansion, operating trends and corporate actions related to First Watch’s daytime dining concept and its multi-state restaurant system.
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.
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.