First Watch Restaurant Group, Inc. Reports Q1 2026 Financial Results

About this update from First Watch Restaurant Group, Inc.

Same-restaurant sales growth of 2.8%Total revenues increased 17.3%Net loss of $(2.7) million and Adjusted EBITDA of $27.8 million16 new system-wide restaurants opened in 11 states BRADENTON, Fla., May 05, 2026 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) (“First Watch” or the “Company”), the leading Daytime Dining concept serving breakfast, brunch and lunch, today reported financial results for the thirteen weeks ended March 29, 2026 (“Q1 2026”). "I am proud of our teams for delivering solid results, exemplified by Same Restaurant Sales growth of 2.8% and expanded restaurant-level operating profit versus a year ago. Our track record of rapid unit growth continued this quarter with 16 new restaurants added, bringing to 67 the total number of new restaurants opened over the past twelve months,” stated Chris Tomasso, CEO and President of First Watch. “With strong execution against our 2026 plan and encouraging early results, we are reaffirming our full‑year top‑line growth outlook and raising the low end of our adjusted EBITDA guidance.” First Quarter 2026 Highlights: ___________________* See Non-GAAP Financial Measures Reconciliations section below. For additional financial information related to Q1 2026, refer to the Company’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 5, 2026, which can be accessed at https://investors.firstwatch.com in the Financials & Filings section. Updated Outlook Fiscal Year 2026 Based upon first quarter results and current trends, the Company updated the following guidance metric for the 52-week fiscal year ending December 27, 2026: The Company reiterated the following guidance metrics for the 52-week fiscal year ending December 27, 2026: ______________________(1) We have not reconciled guidance for Adjusted EBITDA to the corresponding GAAP financial measure because we do not provide guidance for the various reconciling items. We are unable to provide guidance for these reconciling items because we cannot determine their probable significance, as certain items are outside of our control and cannot be reasonably predicted due to the fact that these items could vary significantly from period to period. Accordingly, a reconciliation to the corresponding GAAP financial measure is not available without unreasonable effort. (2) Includes net impac...

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