Recent Updates — FWRG

First Watch Restaurant Group reported third-quarter fiscal 2026 results with total revenues increasing 10.7% to $349.9 million, driven by a 10.9% rise in system-wide sales. Net income grew to $4.8 million, or $0.08 per diluted share, up from $3.0 million in the prior year period. Same-restaurant sales growth was 1.0%, while same-restaurant traffic declined 1.9%. The company opened 16 new system-wide restaurants across 11 states, bringing the total count to 681. Management raised its full-year 2026 Adjusted EBITDA outlook to approximately $136.0 million, citing strong execution and growth ahead of expectations. First Watch operates a chain of daytime dining restaurants serving breakfast, brunch, and lunch.

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.

First Watch Restaurant Group, Inc. appointed Ashlee Weisser as Chief Financial Officer, effective June 8, 2026. Ms. Weisser's compensation includes a base salary of $475,000, a target annual bonus of 70% of her base salary, and an equity grant of $275,000 in restricted stock units.