First Watch Restaurant Group Inc reports results for the quarter ended June 30 - Earnings Summary

• First Watch Restaurant Group Inc FWRG.OQ reported quarterly adjusted earnings of 3 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 14 cents. The mean expectation of eleven analysts for the quarter was for earnings of 5 cents per share. Wall Street expected results to range from 3 cents to 8 cents per share.

• Revenue rose 19.1% to $307.89 million from a year ago; analysts expected $306.55 million.

• First Watch Restaurant Group Inc's reported EPS for the quarter was 3 cents​.

• The company reported quarterly net income of $2.11 million.

• First Watch Restaurant Group Inc shares had risen by 7.5% this quarter and lost 7.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 49.6% in the last three months.​

• In the last 30 days, five analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the restaurants & bars peer group is also "buy"

• Wall Street's median 12-month price target for First Watch Restaurant Group Inc is $22.00, about 21.6% above its last closing price of $17.24

This summary was machine generated from LSEG data August 5 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)