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First Watch Restaurant Group (FWRG)
NASDAQ:FWRG
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
<$0.01Last Year’s EPS
$0.04Same Quarter Last Year
Strong Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 1.97%
|Next Earnings Date:Mar 11, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed sentiment with strong operational execution, technological advancements, and recognition of workplace culture as positives. However, challenges such as a decline in same-restaurant sales, traffic, and hurricane-related delays were also evident. Despite these challenges, the company showed resilience with strong adjusted EBITDA growth and a robust development strategy.Company Guidance
During the First Watch Restaurant Group's Q3 2024 earnings call, the company provided guidance that included several key metrics. They reported system-wide sales of $291.8 million and total revenues of $251.6 million. The adjusted EBITDA for the quarter was $25.6 million, with a net income of $2.1 million. The restaurant-level operating profit margin saw an increase, reflecting solid operational execution despite a slight decline in same-restaurant traffic. First Watch opened nine new system-wide restaurants in the quarter, contributing to an expected annual revenue growth of 16.5% to 17%. The company updated its adjusted EBITDA guidance for 2024 to a range of $110 million to $112 million, driven by improved dining room traffic trends and cost management efforts. Additionally, the company anticipates opening 23 new restaurants in the fourth quarter, with a development pipeline of over 120 projects slated for 2025 and 2026. Despite macroeconomic challenges, First Watch remains optimistic about its market position and growth trajectory, emphasizing its leadership in the daytime dining segment.Strong Adjusted EBITDA Growth
The company generated $25.6 million in adjusted EBITDA, reflecting a significant increase from the previous year, with an adjusted EBITDA margin of 10.2%.
Expansion and Development Achievements
Opened 9 new system-wide restaurants across 8 states, with plans to open 23 new restaurants in Q4, contributing to a development pipeline of more than 120 projects for 2025 and 2026.
Recognition as Most Loved Workplace
First Watch was named the #1 Most Loved Workplace in America by Newsweek and the Best Practice Institute, highlighting the company's strong culture and employee satisfaction.
Technological Advancements
Investments in technology have led to increased operational efficiency, reducing ticket times by over 15% compared to the previous year.
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FWRG Earnings History
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
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FWRG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $18.25 | $20.83 | +14.14% |
| Aug 06, 2024 | $14.28 | $15.86 | +11.06% |
| May 07, 2024 | $25.13 | $21.51 | -14.41% |
| Mar 05, 2024 | $25.46 | $24.58 | -3.46% |
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.
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FAQ
When does First Watch Restaurant Group (FWRG) report earnings?
First Watch Restaurant Group (FWRG) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is First Watch Restaurant Group (FWRG) earnings time?
First Watch Restaurant Group (FWRG) earnings time is at Mar 11, 2025, TBA Not 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 2024 (Q4) is <$0.01.
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