First Watch Restaurant Group, Inc. (FWRG) Reports In-Line Q4 EPS ; Provides Guidance

First Watch Restaurant Group, Inc. (NASDAQ: FWRG) reported Q4 EPS of $0.04, in-line with the analyst estimate of $0.04. Revenue for the quarter came in at $244.6 million versus the consensus estimate of $237.39 million.

Outlook Fiscal Year 2024

The Company provides the following outlook for the 52-week fiscal year ended December 29, 2024:

Same-restaurant sales growth of 1.0% to 3.0% with flat-to-negative same-restaurant traffic growth
Total revenue growth in the range of 18.0% to 20.0%(1)
Adjusted EBITDA* in the range of $106.0 million to $112.0 million(1)
Blended tax rate in the range of 27.0% to 29.0%
Total of 51 to 57 new system-wide restaurants, net of 1 company-owned restaurant closure (43 to 47 new company-owned restaurants and 9 to 11 new franchise-owned restaurants)
Capital expenditures in the range of $125.0 million to $135.0 million invested primarily in new restaurant projects and planned remodels(2)

For earnings history and earnings-related data on First Watch Restaurant Group, Inc. (FWRG) click here.

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