secwatch.observer — SEC 8-K summary
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Issuer:     First Watch Restaurant Group, Inc. (FWRG)
CIK:        0001789940
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001789940-23-000090
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 Q2 revenue up 17.3% to $216.3M, net income $8.0M, raises FY 2023 EBITDA guidance
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- Total revenues $216.3M (+17.3% YoY); same-restaurant sales +7.8%, traffic -1.2%.
- Net income $8.0M ($0.13 diluted EPS) vs $2.7M ($0.05) YoY; Adjusted EBITDA $25.8M vs $17.8M.
- Restaurant-level operating profit margin improved to 20.9% from 18.2%; income from ops margin 5.3% from 2.8%.
- Opened 9 system-wide restaurants; total now 492; acquired 6 franchise restaurants.
- Company raises FY 2023 Adjusted EBITDA guidance (specific new range not disclosed).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1789940/000178994023000090/0001789940-23-000090-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1789940/000178994023000090/fwrg-20230801.htm
  HTML page:      https://secwatch.observer/filing/0001789940-23-000090

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