First Watch Restaurant Group, Inc. (FWRG) Form 8-K — Nov 3, 2026
First Watch Restaurant Group (NASDAQ: FWRG) reported Q3 2026 results with total revenues up 10.7% to $349.9 million and 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, and the company opened 16 system-wide restaurants in 11 states, bringing its total to 681 restaurants across 33 states. Same-restaurant sales grew 1.0% despite same-restaurant traffic declining 1.9%. Management raised its full-year 2026 Adjusted EBITDA outlook to approximately $136.0 million, the high end of its prior range, citing execution ahead of expectations.
Key figures
- Eps
- 0.08
- Revenue
- 349900000
- Guidance
- FY2026: same-restaurant sales growth ~2.0%, total revenue growth ~13.5%, Adjusted EBITDA ~$136.0M (raised to high end of prior range), 60 net new system-wide restaurants, capex ~$145.0M
- Net Income
- 4800000
- Revenue Yoy
- 10.7%
- System wide sales
- $391.2 million (+10.9%)
- Adjusted ebitda q3
- $39.7 million vs $34.1 million
- New restaurants opened
- 16
- Restaurant level margin
- 19.4% vs 19.7%
- System wide restaurants
- 681
- Same restaurant sales growth
- 1.0%
- Same restaurant traffic growth
- -1.9%
AI analysis
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