First Watch reports Q4 same-restaurant sales up 5.0%; FY traffic rises 0.2%

First Watch Restaurant Group, Inc.

2023-FY EPS reported $0.41 revenue$891,551,000

Q4 same-restaurant sales growth of 5.0% vs prior year; FY same-restaurant sales up 7.6%.
Q4 same-restaurant traffic declined 1.3% YoY, but FY traffic increased 0.2%; dining room traffic improved sequentially.
Opened 51 system-wide restaurants in 2023 (37 company-owned); total system restaurants reached 524.
Since May 2023, acquired or agreed to acquire 44 franchise-owned restaurants as part of growth strategy.
CEO cited better-than-expected food and labor costs in Q4, supporting margin outlook.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.75

First Watch Restaurant Group, Inc. reported preliminary financial results for fourth quarter and fiscal year ended December 31, 2023.

Period: fourth quarter and fiscal year ended December 31, 2023
Result: preliminary results

Exact text from the filing

On January 8, 2024, First Watch Restaurant Group, Inc. (the “Company”) issued a press release announcing certain preliminary operational results for the fourth quarter and fiscal year ended December 31, 2023. A copy of the release is attached as Exhibit 99.1 hereto.

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Source: SEC EDGAR

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