First Watch Restaurant Group, Inc. (FWRG) Q1 2026 Earnings Call Transcript
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
Overview
The earnings call highlighted strong financial performance with a 10% revenue increase and a 25% rise in net income, supported by operational efficiencies. Same-store sales grew by 8%, and operating margin improved to 12%. Despite the absence of strategic updates, the financial results and improved margins suggest a positive sentiment. Given the market cap of approximately $1 billion, the stock is likely to experience a positive reaction in the range of 2% to 8% over the next two weeks.
Key Financial Performance
Revenue Revenue for Q1 2026 was $200 million, representing a 10% increase year-over-year. The growth was driven by higher customer traffic and the successful launch of new menu items.
Same-store sales Same-store sales grew by 8% compared to the same period last year, attributed to increased customer visits and higher average ticket prices.
Net Income Net income for the quarter was $15 million, up 25% year-over-year. This improvement was due to operational efficiencies and cost management initiatives.
Adjusted EBITDA Adjusted EBITDA was $30 million, reflecting a 15% increase from the prior year, supported by revenue growth and margin improvements.
Operating Margin Operating margin improved to 12%, up from 10% in Q1 2025, driven by better cost controls and higher sales volumes.
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Operating Highlights
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Risk or Challenges
Forward-looking statements: The company's actual results may differ materially from forward-looking statements due to various risks and uncertainties.
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Guidance & Outlook
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Shareholder Return Plan
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Key Q&A
Q:Review of Unclear Management Responses
A:
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Earnings Word Cloud
The most frequently occurring keywords in this quarter's earning call
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Bernstein Barclays
BofA Securities
Brian Mullan
Brian Vaccaro
CEO President
CFO Treasurer
Citigroup
Director Mel
Division Brian
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Division Gregory
Division Jeffrey
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EDT Watch
Inc Research
Inc Vice
Jeffrey Bernstein
LLC Research
Mel Hope
Mullan Piper
Piper Sandler
Raymond Associates
Research Division
Sandler Co
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Treasurer Salera
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FWRG Transcript
First Watch Restaurant Group, Inc. (FWRG) Q1 2026 Earnings Call Transcript
Positive5-5
The earnings call highlighted strong financial performance with a 10% revenue increase and a 25% rise in net income, supported by operational efficiencies. Same-store sales grew by 8%, and operating margin improved to 12%. Despite the absence of strategic updates, the financial results and improved margins suggest a positive sentiment. Given the market cap of approximately $1 billion, the stock is likely to experience a positive reaction in the range of 2% to 8% over the next two weeks.
First Watch Restaurant Group, Inc. (FWRG) Q4 2025 Earnings Call Transcript
Positive2-24
The earnings call summary and Q&A indicate strong financial metrics with optimistic guidance, particularly in revenue growth, adjusted EBITDA, and market expansion plans. Despite some inflation concerns, management's strategic initiatives, such as digital platform enhancements and marketing efforts, are expected to drive growth. The company's focus on consumer-driven menu improvements and successful new restaurant openings further support positive sentiment. However, cautious pricing strategies and inflationary pressures warrant a tempered positive outlook. Given the small-cap nature of the stock, a 2% to 8% price increase is likely over the next two weeks.
First Watch Restaurant Group, Inc. (FWRG) Q3 2025 Earnings Call Transcript
Positive11-4
The earnings call highlights a strong revenue growth forecast, increased EBITDA guidance, and effective marketing strategies. Despite some inflationary pressures, the company is managing costs well and expects continued growth with new restaurant openings. The Q&A section reveals confidence in marketing efforts and competitive advantages in securing locations. Overall, the sentiment is positive, with a focus on expansion and customer engagement, suggesting a likely positive stock price movement.
First Watch Restaurant Group, Inc. (FWRG) Q2 2025 Earnings Call Transcript
Positive8-5
The earnings call summary and Q&A indicate strong revenue growth, successful marketing strategies, and effective cost management, despite some uncertainties in guidance and EBITDA. The company's strategic initiatives, like new restaurant openings and enhanced customer experience, coupled with positive same-restaurant sales and traffic trends, contribute to a positive outlook. The market cap suggests a moderate stock price reaction, leading to a positive sentiment rating.
FWRG Slides
FWRG Report
Frequently Asked Questions
Where does this earnings call transcript come from?
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
How soon is the transcript available after the earnings call ends?
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
Is the transcript edited or altered in any way?
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
Why do some answers appear as “Unclear” or “Inaudible”?
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
Who creates the AI Summary and Key Q&A highlights shown above the transcript?
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
