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First Watch Restaurant Group, Inc. FWRG Q1 2025 earnings

Reported May 6, 2025 · Before market open

Revenue$282.2MMiss by $24.9M
EPS-$0.01Miss by $0.05
Revenue estimate$307.1M
EPS estimate$0.04

Next report

Nov 3, 2026 (in 2 months)
Revenue estimate$349.5M
EPS estimate$0.08

Financials

Q1 2025

Income statement

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Revenue$282.2M+16.4%
Operating income$1.1M-90.9%
Net income-$829.0K-111%
EPS (diluted)-$0.01-108%

Balance sheet

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Cash & equivalents$18.6M-57.0%
Total debt$831.4M+36.4%
Total equity$596.3M+3.8%
Total assets$1.5B+20.7%

Cash flow

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Operating cash flow$20.1M-19.4%
CapEx$36.5M+27.8%
Free cash flow-$16.4M-355%

Valuation & ratios

Valuation

as of 03/30/25
See full
Market cap$1.01B-31.6%
Enterprise value$1.82B-10.8%
P/E92.9×+60.7×
P/S1×-0.6×

Profitability

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Operating margin2.6%-1.5pp
Net margin1%-4.0pp

Returns & leverage

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Return on equity1.9%-6.4pp
Debt / equity1.4×+0.3×
Current ratio0.3×-0.3×

Segments

By product

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In-restaurant dining sales$226.7M+16.2%
Third-party delivery sales$32.0M+23.4%
Take-out sales$20.9M+14.8%
Royalty and system fund contributions$2.6M-14.0%
Initial fees$62.0K-39.2%

By segment

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Reportable Segment$282.2M+16.4%

FAQ

When did First Watch Restaurant Group, Inc. report Q1 2025 earnings?
First Watch Restaurant Group, Inc. (FWRG) reported Q1 2025 earnings on May 6, 2025 before market open.
What were First Watch Restaurant Group, Inc.'s Q1 2025 revenue and EPS?
First Watch Restaurant Group, Inc. reported revenue of $282.2M and eps of $-0.01 for Q1 2025.
Did First Watch Restaurant Group, Inc. beat estimates in Q1 2025?
Revenue missed the consensus estimate of $307.1M by $24.9M. EPS missed the consensus estimate of $0.04 by $0.05.
How did First Watch Restaurant Group, Inc.'s Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 16.4% from $242.4M a year earlier.
Where can I find First Watch Restaurant Group, Inc.'s Q1 2025 SEC filings?
You can read the 8-K earnings release (0001789940-25-000040) and the 10-Q periodic report (0001789940-25-000041) directly on SEC EDGAR. The filing index links above go to sec.gov.