secwatch.observer — SEC 8-K summary
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Issuer:     First Watch Restaurant Group, Inc. (FWRG)
CIK:        0001789940
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001789940-23-000056
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1789940/000178994023000056/0001789940-23-000056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1789940/000178994023000056/fwrg-20230502.htm
  HTML page:      https://secwatch.observer/filing/0001789940-23-000056

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