First Watch Restaurant Group (FWRG) Expected to Announce Quarterly Earnings on Tuesday

Key Points

• Q1 2026 earnings due May 5: First Watch will report before the open on Tuesday, May 5 at 8:00 AM ET, with analysts forecasting EPS of -$0.03 and $329.43M in revenue.
• Recent quarter showed strength: In the prior quarter the company beat EPS estimates ($0.24 vs. $0.08) and revenue rose 20.2% year‑over‑year to $316.35M, though analysts project roughly $0 EPS for the current and next fiscal years.
• Market and sentiment snapshot: FWRG trades around $13.12 with a ~$809M market cap; consensus is a Moderate Buy with a $19.58 price target, while insiders sold ~68,013 shares in the past three months.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) will likely be issuing its Q1 2026 results before the market opens on Tuesday, May 5th. Analysts expect the company to announce earnings of ($0.03) per share and revenue of $329.4310 million for the quarter. Parties may visit the the company's upcoming Q1 2026 earning results page for the latest details on the call scheduled for Tuesday, May 5, 2026 at 8:00 AM ET.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last posted its earnings results on Tuesday, February 24th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.16. The company had revenue of $316.35 million for the quarter, compared to analysts' expectations of $317.49 million. First Watch Restaurant Group had a return on equity of 3.20% and a net margin of 1.59%.The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the business posted $0.01 earnings per share. On average, analysts expect First Watch Restaurant Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

First Watch Restaurant Group Stock Performance

FWRG stock traded down $0.04 during mid-day trading on Tuesday, reaching $13.12. The company had a trading volume of 103,953 shares, compared to its average volume of 1,675,887. The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $808.70 million, a P/E ratio of 42.28, a P/E/G ratio of 2.70 and a beta of 0.98. First Watch Restaurant Group has a one year low of $10.09 and a one year high of $19.53. The stock's 50-day simple moving average is $12.36 and its two-hundred day simple moving average is $15.19.

Wall Street Analyst Weigh In

FWRG has been the topic of a number of recent research reports. Weiss Ratings upgraded First Watch Restaurant Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, April 10th. Citigroup lowered their price target on First Watch Restaurant Group from $26.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. DA Davidson reissued a "buy" rating and set a $17.00 price target on shares of First Watch Restaurant Group in a report on Tuesday. Guggenheim lowered their price target on First Watch Restaurant Group from $23.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Finally, TD Cowen lowered their price target on First Watch Restaurant Group from $21.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.58.

Insider Activity at First Watch Restaurant Group

In other news, CFO H Melville Hope III sold 7,358 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $12.59, for a total transaction of $92,637.22. Following the transaction, the chief financial officer directly owned 115,665 shares of the company's stock, valued at approximately $1,456,222.35. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura Anne Sorensen sold 4,732 shares of First Watch Restaurant Group stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $12.59, for a total value of $59,575.88. Following the transaction, the insider directly owned 239,050 shares in the company, valued at approximately $3,009,639.50. The trade was a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 68,013 shares of company stock valued at $853,606. 6.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FWRG. Royal Bank of Canada grew its holdings in First Watch Restaurant Group by 67.3% during the first quarter. Royal Bank of Canada now owns 54,267 shares of the company's stock worth $903,000 after acquiring an additional 21,830 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in First Watch Restaurant Group by 31.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,766 shares of the company's stock worth $379,000 after acquiring an additional 5,497 shares during the period. Legal & General Group Plc grew its holdings in First Watch Restaurant Group by 1.6% during the second quarter. Legal & General Group Plc now owns 45,531 shares of the company's stock worth $730,000 after acquiring an additional 724 shares during the period. Rhumbline Advisers grew its holdings in First Watch Restaurant Group by 45.8% during the second quarter. Rhumbline Advisers now owns 73,882 shares of the company's stock worth $1,185,000 after acquiring an additional 23,205 shares during the period. Finally, American Century Companies Inc. grew its holdings in First Watch Restaurant Group by 43.4% during the second quarter. American Century Companies Inc. now owns 72,166 shares of the company's stock worth $1,158,000 after acquiring an additional 21,846 shares during the period. 96.11% of the stock is owned by institutional investors and hedge funds.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc NASDAQ: FWRG operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company's casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.

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