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. operates a daytime dining restaurant concept built around made-to-order breakfast, brunch and lunch. Company updates focus on restaurant sales, franchise revenue, same-restaurant sales and traffic, restaurant-level operating profit, Adjusted EBITDA, and the pace of new system-wide openings across company-owned and franchise-owned locations.
Recurring announcements also cover fiscal outlooks, capital expenditures for new restaurant projects and remodels, market entries, investor conference participation, and governance or management changes. First Watch communications frequently distinguish comparable-restaurant performance from unit growth, giving context for how the brand expands while reporting results for its existing restaurant base.
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First Watch Restaurant Group (NASDAQ: FWRG) has announced plans to release its Q1 2023 financial results on May 2, 2023, prior to market opening. The results will be discussed during a conference call at 8:00 AM ET, hosted by CEO Chris Tomasso and CFO Mel Hope.
This call will be accessible via phone or webcast. First Watch, known for its daytime dining concept specializing in breakfast, brunch, and lunch, has received various awards for its menu, including the MenuMasters honor in 2022.
With over 470 locations across 29 states, the company is majority-owned by Advent International. This financial update is crucial as it could impact future stock performance, investor sentiment, and overall business strategy.
First Watch Restaurant Group (FWRG) reported impressive financial results for Q4 2022 and the fiscal year ending December 25, 2022. Total revenues reached $730.2 million, up 21.5%, with same-restaurant sales growth of 14.5%. For Q4 alone, revenues increased 14.2% to $185.7 million, and net loss improved to $(0.5) million compared to $(4.7) million in Q4 2021. The company opened 43 new restaurants, bringing the total to 474 system-wide. Looking forward, FWRG anticipates 15.0% to 19.0% revenue growth for 2023, with same-restaurant sales expected to grow by 6.0% to 8.0%.
First Watch Restaurant Group (Nasdaq: FWRG) announced participation in three investor conferences in March 2023. The Company will host a fireside chat at the 44th Annual Raymond James Institutional Investors Conference on March 8 at 10:25 AM ET in Orlando, followed by another chat at the Bank of America Consumer & Retail Technology Conference on March 15 at 1:00 PM ET in Miami. Additionally, First Watch will meet with investors at the Citi 2023 Global Consumer Conference on March 16 in Aventura. The fireside chats will be available for live streaming and archived on their investor website.