First Watch Restaurant Group (FWRG) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates

By Zacks Equity Research | November 04, 2025, 9:30 AM

First Watch Restaurant Group, Inc. (FWRG) reported $316.02 million in revenue for the quarter ended September 2025, representing a year-over-year increase of 25.6%. EPS of $0.05 for the same period compares to $0.03 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $306.95 million, representing a surprise of +2.96%. The company delivered an EPS surprise of -37.5%, with the consensus EPS estimate being $0.08.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how First Watch Restaurant Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Same-restaurant sales growth: 7.1% compared to the 4.5% average estimate based on three analysts.
  • System-wide Restaurants - Total: 620 versus 611 estimated by three analysts on average.
  • System-wide Restaurants - Franchise-owned: 72 compared to the 71 average estimate based on two analysts.
  • System-wide Restaurants - Company-owned: 548 compared to the 540 average estimate based on two analysts.
  • Revenues- Franchise revenues: $2.39 million compared to the $2.49 million average estimate based on three analysts. The reported number represents a change of -9.8% year over year.
  • Revenues- Restaurant sales: $313.64 million versus the three-analyst average estimate of $304.07 million. The reported number represents a year-over-year change of +26%.

View all Key Company Metrics for First Watch Restaurant Group here>>>

Shares of First Watch Restaurant Group have returned +0.1% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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