secwatch.observer — SEC 8-K summary
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Issuer:     First Watch Restaurant Group, Inc. (FWRG)
CIK:        0001789940
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0001789940-23-000103
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 $219.2M (+17.3%), net income $5.4M, raises FY guidance
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- Total revenue $219.2M, up 17.3% YoY; same-restaurant sales +4.8%.
- Net income $5.4M ($0.09 diluted EPS) vs $46K prior year; Adjusted EBITDA $21.6M, up 27%.
- Restaurant level operating profit margin 18.7% vs 17.3%; income from ops margin 3.6% vs 1.4%.
- Opened 13 system-wide restaurants and acquired 11 franchise units; total now 505 across 29 states.
- Raised FY2023 guidance for same-restaurant sales growth, total revenue growth, and Adjusted EBITDA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1789940/000178994023000103/0001789940-23-000103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1789940/000178994023000103/fwrg-20231101.htm
  HTML page:      https://secwatch.observer/filing/0001789940-23-000103

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