First Watch Restaurant Group, Inc. ( (FWRG) ) has released its Q3 earnings. Here is a breakdown of the information First Watch Restaurant Group, Inc. presented to its investors.
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First Watch Restaurant Group, Inc. is a prominent player in the Daytime Dining sector, specializing in breakfast, brunch, and lunch across more than 620 locations in 32 states. Known for its fresh, made-to-order menu and community involvement, the company has garnered numerous awards for its culinary offerings.
In its latest earnings report for the third quarter of 2025, First Watch Restaurant Group, Inc. showcased a robust financial performance with significant growth in revenues and net income. The company reported a 25.6% increase in total revenues, reaching $316 million, alongside a net income of $3 million, reflecting the strength of its business model.
Key highlights from the report include a 7.1% growth in same-restaurant sales and a 2.6% increase in same-restaurant traffic. The company’s adjusted EBITDA rose to $34.1 million, marking a notable improvement from the previous year. Additionally, First Watch expanded its footprint by opening 21 new restaurants in 14 states, bringing its total to 620 system-wide locations.
Looking ahead, First Watch is optimistic about its future, projecting a strong finish to the fiscal year with an updated guidance for adjusted EBITDA at approximately $123 million. The company plans to continue its aggressive growth strategy, with expectations of opening 60 to 61 new restaurants by the end of the year.