First Watch Q3 revenue +14.8% to $251.6M; Net income $2.1M; Adj. EBITDA $25.6M

First Watch Restaurant Group, Inc.

2024-Q3 EPS reported $0.29 revenue$752,619,000

Total revenues $251.6M (+14.8% YoY); system-wide sales $291.8M (+8.0%).
Net income $2.1M ($0.03 diluted EPS) vs $5.4M ($0.09) YoY; Adj. EBITDA $25.6M (+18%).
Same-restaurant sales -1.9%, traffic -4.4%; restaurant-level operating profit margin 18.9% (vs 18.7%).
Opened 9 new system-wide restaurants in 8 states; total 547 locations (466 company-owned, 81 franchise).
Hurricane Milton: no material Q4 same-restaurant impact; five openings delayed to January 2025.

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