First Watch Restaurant Group, Inc. Reports Q2 2026 Financial Results

About this update from First Watch Restaurant Group, 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 states BRADENTON, 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: ___________________* 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 upon second quarter results and current trends, the Company updated the following guidance metrics for the 52-week fiscal year ending December 27, 2026: ______________________(1) Includes net impact of approximately 1% in total revenue growth and approximately $2 million in Adjusted EBITDA associated with completed acquisitions.(2) 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. (3) Does not include the...

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