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Compared to Estimates, First Watch Restaurant Group (FWRG) Q4 Earnings: A Look at Key Metrics

By Zacks Equity Research | February 24, 2026, 9:30 AM

First Watch Restaurant Group, Inc. (FWRG) reported $316.35 million in revenue for the quarter ended December 2025, representing a year-over-year increase of 20.2%. EPS of $0.24 for the same period compares to $0.01 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $315.11 million, representing a surprise of +0.39%. The company delivered an EPS surprise of +209.68%, 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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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: 3.1% compared to the 3.1% average estimate based on three analysts.
  • System-wide Restaurants - Total: 633 versus the three-analyst average estimate of 633.
  • System-wide Restaurants - Franchise-owned: 73 versus 73 estimated by two analysts on average.
  • System-wide Restaurants - Company-owned: 560 versus the two-analyst average estimate of 560.
  • Revenues- Franchise revenues: $2.39 million versus $2.42 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -10.4% change.
  • Revenues- Restaurant sales: $313.96 million versus the three-analyst average estimate of $312.15 million. The reported number represents a year-over-year change of +20.5%.

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

Shares of First Watch Restaurant Group have returned -4.1% over the past month versus the Zacks S&P 500 composite's -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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First Watch Restaurant Group, Inc. (FWRG): Free Stock Analysis Report

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

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