First Watch Restaurant Group Inc reports results for the quarter ended in March - Earnings Summary

First Watch Restaurant

07/05/2024 14:32

* First Watch Restaurant Group Inc  FWRG.OQ  reported
quarterly
adjusted earnings of 12 cents​​ per share for the quarter ended
in March, lower than the same quarter last year, when the
company reported EPS of 15 cents.  The mean expectation of
nine analysts for the quarter was for earnings of 10 cents per
share. Wall Street expected results to range from 8 cents to 12
cents per share.
    * Revenue rose 14.7% to $242.45 million from a year ago;
analysts
expected $245.42 million. 
    * First Watch Restaurant Group Inc's reported EPS for the
quarter
was 12 cents​.
    * The company reported quarterly net income of $7.21
million.
    * First Watch Restaurant Group Inc shares had risen by 2.1%
this
quarter and gained 25.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 37.1%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for First Watch
Restaurant Group Inc is $29.00 

This summary was machine generated from LSEG data May 7 at 01:32
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.10           0.12           Beat
 Dec. 31 2023      0.04           0.04           Met
 Sep. 30 2023      0.04           0.09           Beat
 Jun. 30 2023      0.08           0.13           Beat