earnings
confidence high
sentiment negative
materiality 0.70
First Watch Q2 net income falls to $2.1M; raises 2025 adjusted EBITDA guidance
First Watch Restaurant Group, Inc.
2025-Q2 EPS reported
$0.02
revenue$590,127,000
- Total revenues up 19.1% to $307.9M from $258.6M a year ago.
- Net income $2.1M ($0.03 diluted EPS) vs $8.9M ($0.14) in Q2 2024.
- Adjusted EBITDA declined to $30.4M from $35.3M; Restaurant-level margin fell to 18.6% from 21.9%.
- Same-restaurant sales +3.5%; traffic +2.0% (third straight quarter of sequential improvement).
- Opened 17 system-wide restaurants, ending at 600 total; raised 2025 adjusted EBITDA guidance.