First Watch Restaurant Group, Inc. (NASDAQ: FWRG) reported Q1 EPS of ($0.01), $0.05 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $282.2 million versus the consensus estimate of $283.38 million.

Updated Outlook Fiscal Year 2025

Based upon first quarter results and current trends, the Company updated the following guidance metrics for the 52-week fiscal year ending December 28, 2025:

Adjusted EBITDA(1) in the range of $114.0 million to $119.0 million(2)
Blended tax rate of 45.0%-50.0%

The Company confirmed the following guidance metrics for the 52-week fiscal year ending December 28, 2025:

Same-restaurant sales growth percentage in the positive low-single digits with flat-to-slightly positive same-restaurant traffic growth percentage
Total revenue growth of ~20.0%(2)
Total of 59 to 64 new system-wide restaurants, net of 3 company-owned restaurant closures (55 to 58 new company-owned restaurants and 7 to 9 new franchise-owned restaurants).
Capital expenditures in the range of $150.0 million to $160.0 million invested primarily in new restaurant projects and planned remodels(3)

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For earnings history and earnings-related data on First Watch Restaurant Group, Inc. (FWRG) click here.