Overview
Daytime dining concept's Q4 revenue slightly missed analyst expectations
Adjusted EBITDA for Q4 missed analyst estimates
Company opened 13 new restaurants across 11 states in Q4
Outlook
First Watch expects same-restaurant sales growth between 1% to 3% in fiscal year 2026
Company forecasts total revenue growth of 12%-14% for 2026
First Watch plans to open 59 to 63 new system-wide restaurants in 2026
Result Drivers
NEW RESTAURANT OPENINGS - Opened 13 system-wide restaurants across 11 states, contributing to revenue growth
SAME-RESTAURANT SALES - Achieved same-restaurant sales growth of 3.1% in Q4 2025, despite a decline in traffic
DIGITAL MARKETING EXPANSION - Co plans to leverage its evolving digital marketing platform for future growth
Company press release: ID:nGNXbDDw6l
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Slight Miss* | $316.35 mln | $316.93 mln (11 Analysts) |
Q4 Net Income | $15.16 mln | ||
Q4 Adjusted EBITDA | Miss | $33.69 mln | $34.29 mln (11 Analysts) |
Q4 Adjusted EBITDA Margin | 10.60% | ||
Q4 EBITDA | $29.87 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the restaurants & bars peer group is "buy"
Wall Street's median 12-month price target for First Watch Restaurant Group Inc is $22.00, about 41.9% above its February 23 closing price of $15.50
The stock recently traded at 46 times the next 12-month earnings vs. a P/E of 50 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)