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

Key Points

• First Watch Restaurant Group is expected to report Q3 2026 results before the market opens on November 3, with analysts forecasting earnings of $0.03 per share and revenue of $349.36 million.
• In its latest quarter, the company reported $0.04 EPS—below the $0.05 consensus—but revenue rose 15.2% year over year to $354.67 million, exceeding estimates.
• Shares opened at $11.06, near the lower end of their 12-month range. Analyst sentiment remains a “Moderate Buy”, with an average price target of $17.90, despite mixed rating and price-target changes.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) is projected to issue its Q3 2026 results before the market opens on Tuesday, November 3rd. Analysts expect the company to announce earnings of $0.03 per share and revenue of $349.36 million for the quarter. Investors can find conference call details on the company's upcoming Q3 2026 earnings report for the latest details on the call scheduled for Tuesday, November 3, 2026 at 8:00 AM ET.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). The company had revenue of $354.67 million during the quarter, compared to analyst estimates of $351.57 million. First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.35%. The company's revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. On average, analysts expect First Watch Restaurant Group to post $0.15 EPS for the current fiscal year and $0.25 EPS for the next fiscal year.

First Watch Restaurant Group Price Performance

NASDAQ FWRG opened at $11.06 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $682.51 million, a PE ratio of 38.14, a price-to-earnings-growth ratio of 18.15 and a beta of 1.05. First Watch Restaurant Group has a 12-month low of $9.88 and a 12-month high of $18.77. The company has a 50 day moving average price of $11.40 and a two-hundred day moving average price of $12.54.

Analyst Ratings Changes

FWRG has been the subject of several research analyst reports. Weiss Ratings cut First Watch Restaurant Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, October 14th. Stephens reduced their price objective on First Watch Restaurant Group from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, October 15th. Freedom Capital upgraded shares of First Watch Restaurant Group to a "strong-buy" rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded shares of First Watch Restaurant Group from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Finally, Citigroup cut their price objective on shares of First Watch Restaurant Group from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.90.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc operates a daytime-focused restaurant concept serving breakfast, brunch and lunch. Its restaurants offer made-to-order meals such as omelets, pancakes, French toast, sandwiches, salads and bowls, along with fresh juices, coffee and other beverages. The company generally does not serve dinner, positioning its restaurants around the daytime dining occasion.

First Watch restaurants emphasize fresh preparation and seasonal menu offerings, including items made with eggs, fruits, vegetables and other ingredients prepared in the restaurant.

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