First Watch Restaurant Group, Inc. Reports Q2 2026 Financial Results
First Watch reported Q2 revenue of $354.7 million, up 15.2% year-over-year, driven by 3.4% same-restaurant sales growth and 18 new restaurant openings. Adjusted EBITDA increased to $34.5 million from $30.4 million, while restaurant-level operating profit margin improved to 18.8%, indicating strong unit-level economics despite slightly lower corporate operating margins.
Key figures
- Eps
- $0.04
- Revenue
- $354.7 million
- Guidance
- FY26 Same-Restaurant Sales Growth 1.5%-3.0%; Total revenue growth 12.5%-14.0%; Adjusted EBITDA $133.0M-$136.0M; 60-62 net new restaurants
- Revenue Yoy
- 15.2%
- Net income
- $2.3 million
- Adjusted ebitda
- $34.5 million
- Restaurant count
- 665
- System wide sales
- $397.0 million
- Same restaurant sales growth
- 3.4%
- Restaurant level operating margin
- 18.8%
AI analysis
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