First Watch Restaurant Group, Inc. (FWRG) Misses Q1 EPS by 1c, updates outlook

First Watch Restaurant Group, Inc. (NASDAQ: FWRG) reported Q1 EPS of ($0.04), $0.01 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $331 million versus the consensus estimate of $329.43 million.

Updated Outlook Fiscal Year 2026

Based upon first quarter results and current trends, the Company updated the following guidance metric for the 52-week fiscal year ending December 27, 2026:

Adjusted EBITDA(1) of $133 million to $140 million(2)

The Company reiterated the following guidance metrics for the 52-week fiscal year ending December 27, 2026:

Same-restaurant sales growth of 1% to 3%
Total revenue growth of 12% to 14%(2)
59 to 63 net new system-wide restaurants, including 3 company-owned restaurant closures (53 to 55 new company-owned restaurants and 9 to 11 new franchise-owned restaurants)
Capital expenditures of $150 million to $160 million invested primarily in new restaurant projects and planned remodels(3)

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

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