First Watch Restaurant Group, Inc. Reports Q3 2026 Financial Results
First Watch reported Q3 2026 revenue of $349.9 million, up 10.7% year-over-year, with net income rising to $4.8 million ($0.08 diluted EPS) from $3.0 million a year ago. Adjusted EBITDA grew to $39.7 million from $34.1 million, with the margin expanding to 11.4% from 10.8%, and the company opened 16 system-wide restaurants in 11 states. Management raised its FY2026 Adjusted EBITDA outlook to approximately $136 million, the high end of the prior guidance range, alongside ~13.5% revenue growth guidance.
Key figures
- Eps
- 0.08
- Revenue
- 349861000
- Guidance
- FY2026: same-restaurant sales growth ~2.0%; total revenue growth ~13.5%; Adjusted EBITDA ~$136.0M (high end of prior range); 60 net new system-wide restaurants; capex ~$145.0M
- Revenue Yoy
- 10.7%
- Net income
- 4787000
- Adjusted ebitda
- 39748000
- System wide sales
- 391200000
- Adjusted ebitda margin
- 11.4%
- New restaurants opened
- 16
- Restaurant level margin
- 19.4%
- Total system restaurants
- 681
- Adjusted ebitda prior year
- 34099000
- Same restaurant sales growth
- 1.0%
- Same restaurant traffic growth
- -1.9%
AI analysis
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