First Watch Restaurant Group gains on upbeat annual forecast, Q1 rev beat

First Watch Restaurant

02/05/2023 13:14

** Shares of restaurant chain First Watch Restaurant Group
Inc  FWRG.O  up 7.5% at $17.95 premarket
    ** Forecasts FY total rev growth of 16-20%
    ** Expects FY adjusted EBITDA of $80 mln-$85 mln
    ** Reports Q1 same-store sales and traffic growth of 12.9%
and 5.1%, respectively
    ** Also posts 22.1% increase in Q1 rev to $211.4 mln, above
analysts' expectations of $208.4 mln
    ** Up to last close, FWRG up 23.4% YTD

 (Reporting by Anandita Mehrotra in Bengaluru)
 ((Anandita.Mehrotra@thomsonreuters.com))