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

First Watch is introducing a seasonal menu with health-focused dishes available nationwide until March 12, 2023. The new menu features options like the Triple Berry Açaí Bowl and Cauli-Rizo Breakfast Tacos, designed to support customers' health resolutions. Additionally, for every Triple Berry Açaí Bowl sold, First Watch will donate 25 cents to Rainforest Trust to help protect the Amazon rainforest. This initiative emphasizes the use of ethically sourced ingredients and aims to promote sustainable dining.

First Watch Restaurant Group (NASDAQ: FWRG) will participate in a fireside chat at the Barclays Eat, Sleep, Play Conference on November 30, 2022, at 9:30 a.m. ET. CEO Chris Tomasso and CFO Mel Hope will discuss the company's progress. The session will be available for live streaming at First Watch's investor relations page and archived afterwards.

First Watch is known for its award-winning breakfast, brunch, and lunch offerings and operates over 455 locations across 29 states, focusing on fresh ingredients and chef-driven menus.

First Watch Restaurant Group (NASDAQ: FWRG) reported a 18.7% increase in total revenues, reaching $186.9 million for Q3 2022, driven by 12.0% same-restaurant sales growth and a 3.7% increase in same-restaurant traffic. Despite these gains, the income from operations margin fell to 1.4% from 4.6% a year prior due to increased costs and inflation. Net income decreased to $46,000 compared to $800,000 in Q3 2021. The company opened 11 new restaurants, raising its total to 459 across 29 states. Fiscal guidance for 2022 was updated, anticipating revenue growth of 20.0% to 22.0%.

First Watch Restaurant Group, Inc. (NASDAQ: FWRG) plans to release its third quarter 2022 financial results on November 7, 2022, before market opens. A conference call will be held at 8:00 AM ET, featuring CEO Chris Tomasso and CFO Mel Hope. First Watch operates over 445 restaurants across the U.S., known for its chef-driven breakfast and brunch offerings. The company has received accolades such as the MenuMasters award and recognition for its culture. The call will be available via telephone and webcast for interested parties.

First Watch Restaurant Group (NASDAQ: FWRG) announced updates regarding its restaurants in Florida following Hurricane Ian's landfall. A total of 85 Company-owned restaurants were temporarily closed, with all but 10 now reopened. These closures primarily affected the Ft. Myers and Naples areas, where utility restoration is ongoing. Fortunately, fewer than 5 locations sustained significant damage. The Company holds comprehensive insurance coverage and is collaborating with insurers to evaluate the storm's financial impact.

First Watch Restaurant Group, Inc. (NASDAQ: FWRG) has announced the pricing of a secondary public offering of 4,500,000 shares of common stock at $15.50 per share, set to close on September 19, 2022. The offering is solely comprised of shares sold by Selling Stockholders, who will retain all proceeds. Additionally, underwriters have a 30-day option to purchase up to 675,000 additional shares. BofA Securities, Goldman Sachs & Co. LLC, and Jefferies serve as joint lead managers for this offering. The offering is conducted via a SEC prospectus.

First Watch Restaurant Group (NASDAQ: FWRG) announced a secondary public offering of 4,500,000 shares of common stock by certain stockholders. The underwriters, BofA Securities, Goldman Sachs, and Jefferies, have a 30-day option to purchase an additional 675,000 shares. All proceeds will go to the selling stockholders. A registration statement on Form S-1 has been filed but is not yet effective, meaning shares cannot be sold or offered until it becomes active. The offering is not an invitation to buy or sell shares in jurisdictions where it's unlawful.