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First Watch Restaurant Group (FWRG)
NASDAQ:FWRG
US Market
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First Watch Restaurant Group (FWRG) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date
Nov 10, 2025
After Close (Confirmed)
Period Ending
2025 (Q3)
Consensus EPS Forecast
0.07
Last Year’s EPS
0.03
Same Quarter Last Year
Based on 10 Analysts Ratings

Earnings Call Summary

Q2 2025
Earnings Call Date:Aug 05, 2025|
% Change Since: 0.06%|
Earnings Call Sentiment|Positive
The earnings call presented a strong performance in terms of revenue growth, new restaurant openings, and positive customer engagement. However, the company faced challenges with increased food and labor costs, impacting margins. Despite these challenges, the positive aspects, including improved EBITDA guidance and successful marketing initiatives, indicate a generally optimistic outlook for the company.
Company Guidance -
Q3 2025
During the First Watch Restaurant Group's second-quarter earnings call for fiscal 2025, management provided robust guidance, highlighting a 19.1% increase in total revenue, driven by new restaurant openings and recent strategic acquisitions. Positive same-restaurant sales growth of 3.5% was buoyed by a 2% increase in same-restaurant traffic. The company successfully opened 17 new restaurants and acquired 19 franchise locations, contributing to its growth strategy. First Watch also reported improvements in adjusted EBITDA, which was $30.4 million for the quarter, despite a slight decline from the previous year. The company remains optimistic, projecting 62 to 67 new locations and maintaining its commitment to operational excellence and customer engagement, with year-end adjusted EBITDA guidance raised to $119 million to $123 million. Additionally, First Watch has seen improvements in traffic trends and is capitalizing on its marketing efforts, specifically targeting demographic shifts toward younger generations, while maintaining a focus on high-quality, full-service dining experiences.
Significant Revenue Growth
Total revenue increased by more than 19% compared to the second quarter of 2024, driven by high-performing new restaurant openings and strategic acquisitions.
Positive Same-Restaurant Sales Growth
Same-restaurant sales growth of 3.5% was reported, with a 2% increase in same-restaurant traffic growth.
Strong New Restaurant Openings
Opened 17 new system-wide restaurants across 8 states, with new restaurants on track to meet or exceed cash-on-cash returns and ROI targets.
Record Performance on Key Holidays
Mother's Day was the busiest day in First Watch's history with record same-restaurant traffic and sales, followed by strong performance on Father's Day.
Improved EBITDA Outlook
Increased adjusted EBITDA guidance to $119 million to $123 million, up from $114 million to $119 million, due to a reduction in egg costs and successful cost management.
Successful Marketing Initiatives
Marketing efforts are yielding positive results, contributing to same-restaurant traffic growth and increased brand awareness, particularly in the Southeast and Southwest.
Expansion of Customer Demographics
Customer base is skewing more towards Gen Z and millennial generations, with the majority of customers now below 50 years old.

First Watch Restaurant Group (FWRG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

FWRG Earnings History

Report Date
Fiscal Quarter
Forecast / EPS
Last Year's EPS
EPS YoY Change
Press Release
Slides
Play Transcript
Nov 10, 2025
2025 (Q3)
0.07 / -
0.03
Aug 05, 2025
2025 (Q2)
0.05 / 0.03
0.14-78.57% (-0.11)
May 06, 2025
2025 (Q1)
0.04 / -0.01
0.12-108.33% (-0.13)
Mar 11, 2025
2024 (Q4)
0.01 / 0.01
0.04-75.00% (-0.03)
Nov 07, 2024
2024 (Q3)
0.04 / 0.03
0.09-66.67% (-0.06)
Aug 06, 2024
2024 (Q2)
0.12 / 0.14
0.137.69% (+0.01)
May 07, 2024
2024 (Q1)
0.10 / 0.12
0.15-20.00% (-0.03)
Mar 05, 2024
2023 (Q4)
0.04 / 0.04
-0.01500.00% (+0.05)
Nov 01, 2023
2023 (Q3)
0.04 / 0.09
0.0018900.00% (+0.09)
Aug 01, 2023
2023 (Q2)
0.08 / 0.13
0.05160.00% (+0.08)
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed

FWRG Earnings-Related Price Changes

Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Aug 05, 2025
$17.24$17.85+3.54%
May 06, 2025
$18.61$15.33-17.62%
Mar 11, 2025
$18.10$16.83-7.02%
Nov 07, 2024
$18.25$20.83+14.14%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does First Watch Restaurant Group (FWRG) report earnings?
First Watch Restaurant Group (FWRG) is schdueled to report earning on Nov 10, 2025, After Close (Confirmed).
    What is First Watch Restaurant Group (FWRG) earnings time?
    First Watch Restaurant Group (FWRG) earnings time is at Nov 10, 2025, After Close (Confirmed).
      Where can I see when companies are reporting earnings?
      You can see which companies are reporting today on our designated earnings calendar.
        What companies are reporting earnings today?
        You can see a list of the companies which are reporting today on TipRanks earnings calendar.
          What is FWRG EPS forecast?
          FWRG EPS forecast for the fiscal quarter 2025 (Q3) is 0.07.
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