secwatch.observer — SEC 8-K summary
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Issuer:     First Watch Restaurant Group, Inc. (FWRG)
CIK:        0001789940
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0001789940-24-000011
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 FY23 rev $891.6M (+22%), adj EBITDA $99.5M, same-restaurant +7.6%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1789940/000178994024000011/0001789940-24-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1789940/000178994024000011/fwrg-20240305.htm
  HTML page:      https://secwatch.observer/filing/0001789940-24-000011

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