First Watch Q3 revenue $186.9M (+18.7% YoY); same-restaurant sales +12.0%; raises FY guidance

First Watch Restaurant Group, Inc.

2022-Q3 EPS reported $0.12 revenue$544,417,000

Total revenues $186.9M (+18.7% YoY) driven by same-restaurant sales growth of 12.0%.
Same-restaurant traffic increased 3.7% vs Q3 2021; 7.0% vs Q3 2019.
Restaurant level operating profit margin 17.3% (down from 19.5% YoY); net income $46K.
Adjusted EBITDA flat at $17.0M; opened 11 system-wide restaurants in Q3.
Company raised certain elements of its full year 2022 guidance.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

First Watch Restaurant Group, Inc. reported the thirteen weeks ended September 25, 2022 results: revenue $186.9 million, net income $46.0 thousand. Guidance raised.

Period: the thirteen weeks ended September 25, 2022
Revenue: $186.9 million
Net income: $46.0 thousand
Guidance: raised
Result: reported results

Exact text from the filing

99.1. --- EX-99.1 (EX-99.1) --- First Watch Restaurant Group, Inc. Reports Strong Q3 2022 Financial Results and Raises Certain of Its Full Year Guidance Total revenues of $186.9 million, up 18.7% compared to prior year Same-restaurant sales growth of 12.0% driven by same-restaurant traffic growth of 3.7% Income from operations margin of 1.4% and restaurant level

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Source: SEC EDGAR

accession 0001789940-22-000096

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