First Watch FY23 rev $891.6M (+22%), adj EBITDA $99.5M, same-restaurant +7.6%

First Watch Restaurant Group, Inc.

Total revenues $891.6M (up 22.1% YoY), net income $25.4M vs $6.9M in 2022.
Adjusted EBITDA $99.5M (up from $69.3M); restaurant-level operating profit margin 20.0% (vs 17.9%).
Same-restaurant sales +7.6% with positive traffic (+0.2%); Q4 same-restaurant sales +5.0%.
Opened 51 system-wide restaurants in 2023; total 524 restaurants; acquired 23 franchise restaurants.
2024 outlook provided but no specific numerical guidance included in release.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

First Watch Restaurant Group, Inc. reported the fourteen weeks ended December 31, 2023 ("Q4 2023") results: revenue $244.6 million, net income $2.6 million.

Period: the fourteen weeks ended December 31, 2023 ("Q4 2023")
Revenue: $244.6 million
Net income: $2.6 million
Result: reported results

Exact text from the filing

Total revenues increased 31.7% to $244.6 million in Q4 2023 from $185.7 million in Q4 2022

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

First Watch Restaurant Group, Inc. reported the 53-week fiscal year ended December 31, 2023 ("2023") results: revenue $891.6 million, net income $25.4 million.

Period: the 53-week fiscal year ended December 31, 2023 ("2023")
Revenue: $891.6 million
Net income: $25.4 million
Result: reported results

Exact text from the filing

Total revenues increased 22.1% to $891.6 million from $730.2 million in 2022

View on SEC.gov

316 earnings releases filed in the last 30 days. Browse all earnings releases →

First Watch Restaurant Group, Inc. filing history →

Source: SEC EDGAR

accession 0001789940-24-000011

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