First Watch Restaurant reports Q4 EPS 24c, consensus 7c

Reports Q4 revenue $316.4M, consensus $316.32M. System-wide sales increased 16.1% to $353.1M in Q4 2025 from $304.1M in Q4 2024; Same-restaurant sales growth of 3.1%; Same-restaurant traffic growth of negative 1.9%. “2025 was a year of significant progress on a number of fronts for First Watch. In addition to continuing our industry-leading new restaurant growth of nearly 11%, we increased total revenues by more than 20%, which included same-restaurant sales growth of 3.6% and positive same-restaurant traffic,” said Chris Tomasso, CEO and President of First Watch. “As we look to 2026 and beyond, we are energized by the growth opportunities across all facets of our business, particularly the expansion of our evolving digital marketing platform.”