First Watch Restaurant Group, Inc. — Form 8-K
Filed November 3, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
First Watch reported Q3 2026 total revenues of $349.9M (up 10.7% YoY from $316.0M), with same-restaurant sales growth of 1.0% but negative traffic of -1.9%. Net income was $4.8M ($0.08/share diluted) vs. $3.0M ($0.05/share) in Q3 2025; Adjusted EBITDA increased to $39.7M from $34.1M. The company opened 16 new restaurants (681 system-wide total: 601 company-owned, 80 franchise) and raised full-year 2026 Adjusted EBITDA guidance to ~$136.0M (high end of prior range), with expected ~2.0% same-store sales growth and ~13.5% total revenue growth.
Why this rating
Raised guidance and strong unit growth offset modest comp sales and traffic headwinds; meaningful relative to $733M market cap but not transformational.
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