Earnings ·
First Watch Restaurant Group reports Q2 revenue of $354.7M, up 15.2%, with net income of $2.3M
FWRGFirst Watch Restaurant Group, Inc.
First Watch Restaurant Group reported second quarter fiscal 2026 results ending June 28, 2026. Total revenues increased 15.2% to $354.7 million, while net income rose to $2.3 million, or $0.04 per diluted share. Same-restaurant sales growth was 3.4%, driven by positive traffic trends in June despite a slight overall decline of 0.4%. Adjusted EBITDA reached $34.5 million. The company opened 18 new system-wide restaurants across 15 states, bringing the total count to 665 locations in 33 states. Management updated full-year fiscal 2026 guidance, projecting same-restaurant sales growth of 1.5% to 3.0%, total revenue growth of 12.5% to 14.0%, and Adjusted EBITDA between $133.0 million and $136.0 million. First Watch operates a daytime dining restaurant chain specializing in breakfast, brunch, and lunch.