Business
First Watch Restaurant Group, Inc. Reports Q2 2026 Financial Results
First Watch Restaurant Group, Inc. Reports Q2 2026 Financial
About this update from Freshworks Inc.
Same-Restaurant Sales Growth of 3.4%Total revenues increased 15.2%Net income of $2.3 million and Adjusted EBITDA of $34.5 million18 new System-wide restaurants opened in 15 statesBRADENTON, Fla., Aug. 04, 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 June 28, 2026 (“Q2 2026”).“We delivered a strong second quarter, highlighted by Same-Restaurant Sales Growth of 3.4% driven by sequentially improving Same-Restaurant Traffic Growth, which turned positive in June,” stated Chris Tomasso, CEO and President of First Watch. “This momentum underscores the enduring appeal of our differentiated brand, the discipline of our operating model and the outstanding performance of our teams across the system. I am grateful to our teams for their continued execution as we expand upon our position as the leading Daytime Dining concept.”Second Quarter 2026 Highlights:Total revenues increased 15.2% to $354.7 million as compared to $307.9 million in the same period of 2025System-wide sales increased 14.7% to $397.0 million as compared to $346.2 million in the same period of 2025Same-Restaurant Sales Growth of 3.4%Same-Restaurant Traffic Growth of negative 0.4%Income from operations margin decreased to 2.3% as compared to 2.4% in the same period of 2025Restaurant Level Operating Profit Margin* increased to 18.8% as compared to 18.6% in the same period of 2025Net income increased to $2.3 million, or $0.04 per diluted share, from net income of $2.1 million, or $0.03 per diluted share, in the same period of 2025Adjusted EBITDA* increased to $34.5 million as compared to $30.4 million in the same period of 2025Opened 18 system-wide restaurants in 15 states, with 1 planned closure, resulting in a total of 665 system-wide restaurants (586 company-owned and 79 franchise-owned) across 33 states ___________________* See Non-GAAP Financial Measures Reconciliations section below. For additional financial information related to Q2 2026, refer to the Company’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission on August 4, 2026, which can be accessed at https://investors.firstwatch.com in the Financials & Filings section.Updated Outlook Fiscal Year 2026 Based...