secwatch.observer — SEC 8-K summary
======================================

Issuer:     First Watch Restaurant Group, Inc. (FWRG)
CIK:        0001789940
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001789940-22-000096
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1789940/000178994022000096/0001789940-22-000096-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1789940/000178994022000096/fwrg-20221107.htm
  HTML page:      https://secwatch.observer/filing/0001789940-22-000096

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer