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

First Watch Restaurant Group (NASDAQ: FWRG) announced it will release its third quarter 2024 financial results on Thursday, November 7, 2024, before market opens. The company will host a conference call and webcast at 8:00 AM ET on the same day, led by CEO and President Chris Tomasso and CFO Mel Hope. Participants can join via phone dial-in, pre-registration link, or webcast through the investor relations website. The webcast will be archived after the call concludes.

First Watch Restaurant Group (NASDAQ: FWRG) provides an update on the impact of Hurricane Milton on its operations. From October 8-13, 2024, 85 Company-owned restaurants were closed for at least one day due to the hurricane. As of October 14th, 77 of these restaurants have reopened, with management assessing the reopening timeline for the remaining 8 affected locations.

Additionally, Hurricane Helene affected less than 10 Company-owned restaurants, with only one closed for more than three days. First Watch maintains comprehensive insurance coverage, including property, flood, and business interruption. The company is working with insurance providers to assess the overall impact, which is expected to take several weeks to complete.

First Watch, the leading Daytime Dining restaurant, has been named the #1 Most Loved Workplace® in America by Newsweek and the Best Practice Institute for the third consecutive year. This recognition highlights the company's commitment to its 'You First' culture for its 14,000+ employees.

First Watch was specifically recognized for its employee benefits, including:

• Back-up child and elder care
• Free Calm app memberships
• Telemedicine services with no out-of-pocket expenses
• High school diploma and tuition reimbursement programs

The company's W.H.Y. (We Hear You) Tours involve leadership engaging in video conversations with staff to gather feedback, resulting in improvements to the menu, operating systems, and employee offerings. First Watch's one-shift 'No Nights Ever' model allows teams to build stronger connections and enjoy evenings with family.

First Watch Restaurant Group (NASDAQ: FWRG) has promoted Rob Conti to Chief Information Officer. Conti, who joined First Watch in 2019, brings over 25 years of experience in hospitality technology leadership. He will be responsible for setting the company's IT strategy and roadmap, ensuring successful integration of technology initiatives.

Under Conti's leadership, First Watch has developed key systems including a business intelligence platform, cyber security program, pay-at-table solution, and kitchen display systems. His focus on operators, employees, and customers aligns with First Watch's 'You First' commitment. Prior to First Watch, Conti spent 18 years at Hard Rock International and over 10 years with The Walt Disney Company in restaurant operations.

First Watch, a leading Daytime Dining concept, has partnered with Olympic silver medalists Kassidy Cook and Sarah Bacon for a unique promotion. The duo, known as 'Cook'N Bacon', won America's first medal at the 2024 Paris Olympic Games in the women's 3-meter synchronized springboard event. First Watch is offering a chance to win free brunch for a year for two lucky pairs.

The partnership, developed with Parity, a sports sponsorship platform for professional women athletes, aligns with First Watch's core values and 'You First' commitment. From August 29 to September 3, fans can enter the contest by following @FirstWatch on Instagram and tagging their 'Cook' to their 'Bacon' - the person they're most in sync with.

First Watch operates more than 535 restaurants in 29 states, offering made-to-order breakfast, brunch, and lunch using fresh ingredients. The company follows a 'Follow the Sun' food ethos to source seasonal ingredients.

First Watch Restaurant Group (Nasdaq: FWRG), a Daytime Dining concept specializing in breakfast, brunch, and lunch, has announced its participation in Piper Sandler's Growth Frontiers Conference. The event is scheduled for September 10-11, 2024 in Nashville, Tennessee.

Key highlights:

• First Watch will host a fireside chat on Tuesday, September 10, 2024, at 3:30 PM ET
• The company will meet with institutional investors during the conference
• A live webcast of the fireside chat will be available on the First Watch investor relations website
• The webcast will be archived for later viewing

This participation demonstrates First Watch's commitment to engaging with investors and sharing insights about its growth strategies in the competitive restaurant industry.

First Watch Restaurant Group, Inc. (NASDAQ: FWRG) has announced the appointment of two new independent directors to its Board. Charles Jemley joins immediately as a Board member and Chair of the Audit Committee, while Michael Fleisher will join effective November 1, 2024. Both bring extensive financial management expertise to the leading Daytime Dining concept.

Jemley's background includes serving as CFO at Dutch Bros Coffee and holding leadership positions at Yum! Brands and Starbucks. Fleisher's experience spans roles as CFO of Wayfair, Inc., Vice Chairman at Warner Music Group, and CEO of Gartner, Inc. These appointments aim to strengthen First Watch's leadership as it continues to scale its brand in the breakfast, brunch, and lunch segment.

First Watch Restaurant Group (NASDAQ: FWRG) reported strong Q2 2024 financial results, with total revenues increasing 19.5% to $258.6 million. The company saw improvements in key metrics, including:

- Income from operations margin up 110 basis points
- Restaurant level operating profit margin up 100 basis points
- Net income increased 12% to $8.9 million
- Adjusted EBITDA rose 37% to $35.3 million

Despite challenges, FWRG opened 7 new system-wide restaurants across 6 states and acquired 21 operating franchise restaurants. The company updated its fiscal year 2024 guidance, projecting same-restaurant sales growth between -2.0% to flat, and total revenue growth of 17.0% to 19.0%.

First Watch Restaurant Group, Inc. (NASDAQ: FWRG), the leading Daytime Dining concept, has announced plans to release its second quarter 2024 financial results on Tuesday, August 6, 2024, before market open. A conference call and webcast will follow at 8:00 AM ET, hosted by CEO and President Chris Tomasso and CFO Mel Hope.

Interested parties can access the call through three options: 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 before its scheduled start.