Breakfast restaurant chain First Watch Restaurant Group (NASDAQ:FWRG) will be announcing earnings results tomorrow morning. Here’s what to expect.
First Watch missed analysts’ revenue expectations by 2% last quarter, reporting revenues of $251.6 million, up 14.8% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EBITDA estimates but same-store sales in line with analysts’ estimates.
Is First Watch a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting First Watch’s revenue to grow 7.5% year on year to $263 million, slowing from the 31.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.03 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. First Watch has missed Wall Street’s revenue estimates five times over the last two years.
Looking at First Watch’s peers in the sit-down dining segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Brinker International delivered year-on-year revenue growth of 26.5%, beating analysts’ expectations by 9.6%, and BJ's reported revenues up 6.4%, topping estimates by 2.3%. Brinker International traded up 18% following the results while BJ's was also up 6.6%.
Read our full analysis of Brinker International’s results here and BJ’s results here.
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