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

First Watch Restaurant

02/11/2023 19:23

* First Watch Restaurant Group Inc  FWRG.OQ  reported
quarterly
adjusted earnings of 9 cents​​ per share for the quarter ended
in September, higher than the same quarter last year, when the
company reported breakeven earnings per share.  The mean
expectation of nine analysts for the quarter was for earnings of
4 cents per share. Wall Street expected results to range from 2
cents to 6 cents per share.
    * Revenue rose 17.3% to $219.21 million from a year ago;
analysts
expected $215.81 million. 
    * First Watch Restaurant Group Inc's reported EPS for the
quarter
was 9 cents​.
    * The company reported quarterly net income of $5.42
million.
    * First Watch Restaurant Group Inc shares had fallen by 0.9%
this
quarter and gained 26.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.4%
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
"strong buy"
and the breakdown of recommendations is 8 "strong buy" or
"buy," 1 "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the restaurants &
bars
peer group is also "strong buy"

Wall Street's median 12-month price target for First Watch
Restaurant Group Inc is $23.00 
This summary was machine generated from LSEG data November 2 at
07:23 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.04           0.09           Beat
 Jun. 30 2023      0.08           0.13           Beat
 Mar. 31 2023      0.09           0.15           Beat
 Dec. 31 2022      0.02           -0.01          Missed