First Watch Restaurant Group Targets 15% Adjusted EBITDA Growth Through 2028
First Watch Restaurant Group (FWRG) reported a 10.7% increase in total revenue for the third quarter, driven by positive same-restaurant sales growth. Despite the revenue climb, the company faced challenges with consumer volume, noting that while same-restaurant sales rose by 1%, guest traffic saw a decline of 1.9%. Looking ahead, management has outlined an ambitious long-term growth strategy. The company aims to achieve adjusted EBITDA growth exceeding 15% through 2028 and plans to scale its footprint significantly, targeting approximately 55 system-wide restaurant openings in 2027.
Tickers: $FWRG
Topics: consumer traffic earnings report revenue growth same-restaurant sales
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Part of the story First Watch Restaurant Group, Inc. - 8-K Filing (4 articles)