First Watch Restaurant Group, Inc. to Host Inaugural Investor Day on Thursday, November 12th to Share Strategic Growth Vision
First Watch will host its inaugural Investor Day on November 12 in Boston, laying out annual growth targets through 2028. Targets include same-restaurant sales growth of 2%-4%, total revenue growth of 10%-13%, and Adjusted EBITDA growth of 15%+, with positive free cash flow beginning in 2027 and increasing each year. The company is on track to open 62 systemwide restaurants in 2026 and approximately 55 in 2027. Management sees a path to more than 2,200 restaurants across the continental U.S.
Key figures
- Guidance
- Through 2028: same-restaurant sales growth 2%-4%; total revenue growth 10%-13%; Adjusted EBITDA growth 15%+; positive free cash flow beginning 2027 and increasing each year; on track to open 62 systemwide restaurants in 2026 and ~55 in 2027; annual Adjusted EBITDA growth outlook for 2027 and 2028 recently raised to greater than 15%
- Current restaurant count
- more than 680 restaurants in 33 states
- Long term unit potential
- more than 2,200 restaurants across the continental U.S.
- Systemwide openings 2026
- 62
- Systemwide openings 2027
- 55
AI analysis
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