Welcome to our dedicated page for First Watch Restaurant Group news (Ticker: FWRG), a resource for investors and traders seeking the latest updates and insights on First Watch Restaurant Group stock.
First Watch Restaurant Group, Inc. (NASDAQ: FWRG) is an award-winning daytime dining concept specializing in made-to-order breakfast, brunch, and lunch using only the freshest ingredients. Established in 1983, First Watch has grown to operate over 520 restaurants across 29 states. The company is renowned for its chef-driven menu that includes elevated classics and unique specialties such as the Quinoa Power Bowl®, Farm Stand Breakfast Tacos, and Million Dollar Bacon.
First Watch's operational philosophy is centered on its 'You First®' service, ensuring that customers receive extraordinary dining experiences from the moment they walk in. Every morning, the team begins its day by preparing fresh fruits, vegetables, and homemade batters, ensuring that freshness is never compromised. Customers are greeted with a pot of Sunrise Select® premium blend coffee, along with complimentary newspapers and Wi-Fi access.
First Watch has recently made significant strides in its growth strategy. In a landmark transaction, the company acquired 21 franchise-operated restaurants, further solidifying its footprint and enhancing its long-term value creation strategy. This acquisition is part of a broader effort that has seen First Watch acquire 44 franchise restaurants since May 2023.
The company is also focused on financial flexibility, as evidenced by its amended credit agreement. This new financial arrangement includes a $125 million delayed draw term facility and a $100 million term loan A facility, providing increased support for franchise acquisitions and new restaurant development.
First Watch has received numerous accolades, including being named the top restaurant brand in Yelp’s inaugural list of the top 50 most-loved brands in the U.S. and being recognized as a Top 100 Most Loved Workplace® by Newsweek in both 2022 and 2023. The company's commitment to culture and excellence was underscored by the late Ken Pendery, co-founder and former CEO, whose leadership philosophy continues to influence the organization today.
For more information, visit First Watch and stay updated through the Investors Relations section on their website.
First Watch Restaurant Group (NASDAQ: FWRG) has announced plans to release its Q1 2023 financial results on May 2, 2023, prior to market opening. The results will be discussed during a conference call at 8:00 AM ET, hosted by CEO Chris Tomasso and CFO Mel Hope.
This call will be accessible via phone or webcast. First Watch, known for its daytime dining concept specializing in breakfast, brunch, and lunch, has received various awards for its menu, including the MenuMasters honor in 2022.
With over 470 locations across 29 states, the company is majority-owned by Advent International. This financial update is crucial as it could impact future stock performance, investor sentiment, and overall business strategy.
First Watch Restaurant Group (FWRG) reported impressive financial results for Q4 2022 and the fiscal year ending December 25, 2022. Total revenues reached $730.2 million, up 21.5%, with same-restaurant sales growth of 14.5%. For Q4 alone, revenues increased 14.2% to $185.7 million, and net loss improved to $(0.5) million compared to $(4.7) million in Q4 2021. The company opened 43 new restaurants, bringing the total to 474 system-wide. Looking forward, FWRG anticipates 15.0% to 19.0% revenue growth for 2023, with same-restaurant sales expected to grow by 6.0% to 8.0%.
First Watch Restaurant Group (Nasdaq: FWRG) announced participation in three investor conferences in March 2023. The Company will host a fireside chat at the 44th Annual Raymond James Institutional Investors Conference on March 8 at 10:25 AM ET in Orlando, followed by another chat at the Bank of America Consumer & Retail Technology Conference on March 15 at 1:00 PM ET in Miami. Additionally, First Watch will meet with investors at the Citi 2023 Global Consumer Conference on March 16 in Aventura. The fireside chats will be available for live streaming and archived on their investor website.
First Watch Restaurant Group, Inc. (NASDAQ: FWRG) will release its fourth quarter and fiscal year 2022 financial results on March 7, 2023, prior to market open. A conference call and webcast, hosted by CEO Chris Tomasso and CFO Mel Hope, will follow at 8:00 AM ET. Interested listeners can join via a dial-in number, pre-register for a call, or access an online webcast. First Watch is renowned for its daytime dining concept, providing quality breakfast, brunch, and lunch at over 470 locations across 29 states. The company has received multiple awards for its dining experience and innovative menu offerings.
First Watch Restaurant Group (NASDAQ: FWRG) reported strong operational results for the fourth quarter and fiscal year ending December 25, 2022. The company achieved same-restaurant sales growth of 14.5% for the year, with a 7.7% increase in the fourth quarter. Despite challenges from Hurricane Ian, the brand opened 16 new restaurants in Q4, bringing the total to 474 system-wide. Management expresses confidence in continued growth amid rising consumer demand for daytime dining.
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