Earnings Releases·Nov 3, 2026, 8:08 AM ET

First Watch Restaurant Group, Inc. — Q3 2026 Earnings Summary

Total revenues rose 10.7% year-over-year to $349.9 million, driven by 10.9% system-wide sales growth and 1.0% same-restaurant sales growth, while net income increased to $4.8 million ($0.08 per diluted share) from $3.0 million in the prior year period.
The Company raised its full-year 2026 Adjusted EBITDA outlook to the high end of the previous range, now projecting approximately $136.0 million, alongside updated guidance for 13.5% total revenue growth and 2.0% same-restaurant sales growth.
Expansion plans for fiscal 2026 target 60 net new system-wide restaurants (53 company-owned, 9 franchise-owned) with capital expenditures of approximately $145.0 million, while the system-wide restaurant count reached 681 locations.
Adjusted EBITDA margin improved to 11.4% from 10.8% year-over-year, though restaurant-level operating profit margin declined to 19.4% from 19.7%, and same-restaurant traffic decreased by 1.9%.