First Watch Restaurant shines on strong Q4 performance

First Watch Restaurant

05/03/2024 13:00

** First Watch Restaurant Group shares  FWRG.O  rise 6% to
$27 premarket after upbeat Q4 results
    ** If gains hold, stock could open at an all-time high - at
over 50% premium to FWRG's IPO price of $18
    ** Co reports Q4 core earnings of $24.625 mln, beating
Street estimates of $18.1 mln - LSEG data 
    ** FWRG also beats Q4 revenue expectations
    ** "Given the untapped market potential in the Daytime
Dining segment, combined with our operational focus and proven
portability, we are optimistic about the growth ahead" - CEO
Chris Tomasso
    ** FWRG says there is potential for more than 2,200
restaurants in U.S. 
    ** Up to last close, stock had risen 26.67% YTD 

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))