First Watch Reports Revenue Growth and Expansion Plans
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An announcement from First Watch Restaurant Group ( (FWRG) ) is now available.
First Watch Restaurant Group reported a 14.8% increase in total revenues for Q3 2024, despite facing challenges like negative same-restaurant sales and traffic growth. The company opened nine new restaurants while maintaining strong restaurant-level operations, leading to an 18% rise in Adjusted EBITDA. CEO Chris Tomasso highlighted the company’s commitment to expanding its footprint to 2,200 locations, although some openings were delayed due to Hurricane Milton. With a focus on supporting growth, First Watch aims for continued success in the dynamic dining market.
For a thorough assessment of FWRG stock, go to TipRanks’ Stock Analysis page.
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