Tom Werner/DigitalVision via Getty Images Dealing with Slow Traffic: An Inescapable Reality I recently started my 'Goulart's Restaurant Stocks' follow-up on the family restaurant company First Watch (NASDAQ:FWRG) with the article entitled "First Watch Restaurant: The Price For Maintaining Pricing". I highly recommend reading it, where I dissected the financial, operational and strategy structure used for the current restaurant industry environment. That said, I also recommend checking out my other articles ...

Core Insights - First Watch Restaurant Group, Inc. has promoted Rob Conti to Chief Information Officer, who has over 25 years of experience in technology solutions for hospitality brands [1][2] - Conti has been instrumental in scaling the IT function at First Watch since joining in 2019, enhancing systems and processes to support the company's growth [2] - First Watch operates more than 535 restaurants across 29 states, focusing on made-to-order breakfast, brunch, and lunch with fresh ingredients [4] Company Overview - First Watch is recognized for its chef-driven menu, which includes popular items like the Quinoa Power Bowl®, Farm Stand Breakfast Tacos, and Million Dollar Bacon [4] - The company has received numerous accolades, including being named the top restaurant brand in Yelp's 2023 list of the top 50 most-loved brands in the U.S. [4] - First Watch has been recognized as a Top 100 Most Loved Workplace® in 2022 and 2023 by Newsweek [4] Leadership and Achievements - Rob Conti previously held leadership roles at Hard Rock International and The Walt Disney Company, contributing to his extensive background in IT [3] - Under Conti's leadership, First Watch has implemented key systems such as a business intelligence platform and a cyber security program [2] - Conti was named one of the most influential restaurant executives by Nation's Restaurant News in 2021 [2]

BRADENTON, Fla., Aug. 22, 2024 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced the appointment of Charles Jemley to its Board of Directors and as Chair of the Audit Committee effective immediately and the appointment of Michael Fleisher to its Board of Directors effective November 1, 2024. "We are pleased to welcome Charley and Michael to our Board of Directors, and ...

For the quarter ended June 2024, First Watch Restaurant Group, Inc. (FWRG) reported revenue of $258.56 million, up 19.5% over the same period last year. EPS came in at $0.14, compared to $0.13 in the year-ago quarter. The reported revenue represents a surprise of +0.75% over the Zacks Consensus Estimate of $256.63 million. With the consensus EPS estimate being $0.12, the EPS surprise was +16.67%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street exp ...

First Watch Restaurant Group, Inc. (FWRG) came out with quarterly earnings of $0.14 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 16.67%. A quarter ago, it was expected that this company would post earnings of $0.10 per share when it actually produced earnings of $0.12, delivering a surprise of 20%. Over the last four quar ...

BRADENTON, Fla., May 22, 2024 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) ("First Watch" or the "Company"), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced it will participate in two June investor conferences: About First Watch First Watch is an award-winning Daytime Dining concept serving made-to-order breakfast, brunch and lunch using fresh ingredients. A recipient of hundreds of local "Best Breakfast" and "Best Brunch" accolades, First Wat ...

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Q1 2024 Earnings Conference Call May 7, 2024 8:00 AM ET Company Participants Steve Marotta - VP of IR Chris Tomasso - CEO and President Mel Hope - CFO Matt Eisenacher - Chief Brand Officer Conference Call Participants Katherine Griffin - Bank of America Anisha Datt - Barclays Andy Barish - Jefferies Jon Tower - Citigroup Brian Vaccaro - Raymond James Gregory Francfort - Guggenheim Securities Chris O'Cull - Stifel Operator Thank you for standing by, and welcom ...

First Watch Restaurant Group, Inc. (FWRG) reported $242.45 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 14.7%. EPS of $0.12 for the same period compares to $0.15 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $244.78 million, representing a surprise of -0.95%. The company delivered an EPS surprise of +20.00%, with the consensus EPS estimate being $0.10.While investors scrutinize revenue and earnings changes year-over-year and how ...

First Watch Restaurant Group, Inc. (FWRG) came out with quarterly earnings of $0.12 per share, beating the Zacks Consensus Estimate of $0.10 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20%. A quarter ago, it was expected that this company would post earnings of $0.04 per share when it actually produced earnings of $0.04, delivering no surprise.Over the last four quarters, the c ...

Financial Performance - Q1 2024 - Total revenues increased by 147% to $2424 million in Q1 2024 from $2114 million in Q1 2023[44] - System-wide sales increased by 94% to $2896 million in Q1 2024 from $2647 million in Q1 2023[44] - Same-restaurant sales growth was 05%[7,44] - Net income decreased to $72 million or $012 per diluted share in Q1 2024 from $94 million or $015 per diluted share in Q1 2023[60] - Adjusted EBITDA increased to $286 million in Q1 2024 from $274 million in Q1 2023[60] - Income from operations margin decreased to 51% during Q1 2024 from 74% in Q1 2023[60] - Restaurant level operating profit margin decreased to 208% in Q1 2024 from 212% in Q1 2023[60] Expansion and Outlook - The company opened 9 system-wide restaurants in 8 states resulting in a total of 531 system-wide restaurants (432 company-owned and 99 franchise-owned) across 29 states[74] - The company expects same-restaurant sales growth in a range of flat-to-up 20% and total revenue growth in the range of 170% to 190% for fiscal year 2024[79]