First Watch Restaurant Group, Inc. (NASDAQ: FWRG) reported Q3 EPS of $0.05, $0.02 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $316 million versus the consensus estimate of $309.05 million.

Updated Outlook Fiscal Year 2025

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

Same-restaurant sales growth of ~4% with same-restaurant traffic growth of ~1%
Total revenue growth of 20.0%-21.0%(1)
Adjusted EBITDA(2) of ~$123.0 million(1)
Blended tax rate of ~45.0%
Capital expenditures of ~$150.0 million invested primarily in new restaurant projects and planned remodels(3)
60 to 61 new system-wide restaurants, net of 3 company-owned restaurant closures (55 new company-owned restaurants and 8 to 9 new franchise-owned restaurants)

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