earnings
confidence medium
sentiment neutral
materiality 0.75
First Watch FY2024 revenue tops $1B, net income $18.9M; Q4 same-store sales -0.3%
First Watch Restaurant Group, Inc.
- Total revenues $1.01B for FY2024, +13.9% YoY; system-wide sales $1.2B.
- Net income $18.9M (FY); Adjusted EBITDA $113.8M, surpassing $100M for first time.
- Q4 total revenues $263.3M (+7.6%); same-restaurant sales -0.3%, traffic -3.0%.
- Q4 net income $0.7M vs $2.6M; Rest. level operating profit margin 18.8% vs 19.4%.
- Opened 50 system-wide restaurants in 2024 (25 in Q4); provided 2025 outlook.