First Watch Q1 revenue $211.4M (+22% YoY), net income $9.4M, raises FY23 EBITDA guidance

First Watch Restaurant Group, Inc.

2023-Q1 EPS reported $0.15 revenue$211,406,000

Total revenues $211.4M, up 22.1% YoY; same-restaurant sales +12.9%, traffic +5.1%.
Net income $9.4M ($0.15 diluted EPS) vs $4.6M ($0.08) in Q1 2022.
Adjusted EBITDA $27.4M, up from $19.4M; restaurant-level operating profit margin 21.2% (19.6%).
Raised 2023 Adjusted EBITDA guidance; opened 10 system-wide restaurants in Q1.
System-wide sales $264.7M (+23.6%); 484 total restaurants.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

First Watch Restaurant Group, Inc. reported first fiscal quarter ended March 26, 2023 results: revenue $211.4 million, net income $9.4 million, EPS $0.15 per diluted share. Guidance raised.

Period: first fiscal quarter ended March 26, 2023
Revenue: $211.4 million
Net income: $9.4 million
EPS: $0.15 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

confidence in First Watch’s leadership position and our strong consumer value proposition.” Highlights for Q1 2023 compared to Q1 2022*: • Total revenues increased 22.1% to $211.4 million in Q1 2023 from $173.1 million in Q1 2022 • System-wide sales increased 23.6% to $264.7 million in Q1 2023 from $214.1 million in Q1 2022 • Same-restaurant sales growth of 12.9%

View on SEC.gov

Browse all earnings releases →

First Watch Restaurant Group, Inc. filing history →

Source: SEC EDGAR

accession 0001789940-23-000056

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.