$FWRG

First Watch Restaurant Group, Inc.

AlphAI earnings readQ2 FY2026 · AUG 4First Watch Restaurant Group, Inc. Reports Q2 2026 Financial ResultsVerdict: solid

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No SEC Form 4 filings for $FWRG in the last 30 days.

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FWRG Maintained by Citigroup -- Price Target Lowered to $19.00

Citigroup maintained a 'Buy' rating for First Watch Restaurant Group (FWRG) but lowered its price target from $20.00 to $19.00. GuruFocus values FWRG at $22.80, suggesting a 51.2% undervaluation. The company has a GF Score of 76/100, with strong growth but weaker financial strength. Three gurus hold positions, with recent additions.

Q2 Earnings Outperformers: Cracker Barrel (NASDAQ:CBRL) And The Rest Of The Sit-Down Dining Stocks

The Cheesecake Factory reported Q2 revenue of $1.03B, up 7.7% YoY, beating estimates. Stock rose 26.2% to $112.34. Dine Brands reported $240.9M revenue, up 4.4%, but missed EBITDA estimates; stock fell 10.4% to $31.22. First Watch reported $354.7M revenue, up 15.2%, beating sales estimates but matching EPS; stock down 5.4% to $11.83. Darden reported $3.2B revenue, up 5.1%, in line with expectations; stock down 2.4% to $208.50.

FWRG sentiment & insider activity

Over the past 7 days, AlphAI's AI scored 1 news story mentioning FWRG (First Watch Restaurant Group, Inc.). Coverage has skewed bullish: 1 bullish, 0 neutral, and 0 bearish.

Recent FWRG coverage spans earnings, financial news and sector analysis.

What's driving FWRG

AlphAI scores every news story that mentions FWRG with an AI model for sentiment and relevance, and aggregates insider trades from First Watch Restaurant Group, Inc.'s SEC EDGAR Form 4 filings. Figures refresh continuously.

News on $FWRG

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Q2 Earnings Outperformers: Cracker Barrel (NASDAQ:CBRL) And The Rest Of The Sit-Down Dining Stocks

The Cheesecake Factory reported Q2 revenue of $1.03B, up 7.7% YoY, beating estimates. Stock rose 26.2% to $112.34. Dine Brands reported $240.9M revenue, up 4.4%, but missed EBITDA estimates; stock fell 10.4% to $31.22. First Watch reported $354.7M revenue, up 15.2%, beating sales estimates but matching EPS; stock down 5.4% to $11.83. Darden reported $3.2B revenue, up 5.1%, in line with expectations; stock down 2.4% to $208.50.

First Watch stock price target lowered to $15 by DA Davidson

DA Davidson lowered its price target for First Watch (FWRG) to $15 from $17, maintaining a Buy rating. The target implies 47% upside from the current price. Analysts cited improved marketing and limited-time offers as positive factors. The company reported Q2 revenue of $354.7M, beating estimates, with a 15.2% year-over-year increase. Analysts expect growth in same-store sales and sustainable earnings structure.

$CAKELow

Gordon Haskett reviews restaurant sector estimate revisions

Gordon Haskett analyzed 2026 estimate revisions for 22 restaurant companies, finding 9 saw upward revisions, 3 held steady, and 10 faced downward revisions. Cheesecake Factory, Bloomin’ Brands, BJ’s Restaurants, and Starbucks saw upward revisions across all metrics, while Papa Johns, Wendy’s, and others saw downward revisions. The sector gained 6% over 12 months, underperforming the S&P 500's 18% gain. Revisions to same-store sales had the strongest correlation with share price moves.

$FWRGMedAI 8/10

First Watch (FWRG) Q2 2026 Earnings Call Transcript

First Watch Restaurant Group (FWRG) reported Q2 2026 revenue of $354.7 million, up 15.2% year over year, with same-restaurant sales up 3.4% and traffic down 0.4%. Adjusted EBITDA was $34.5 million (9.7% margin). The company raised 2026 guidance to 12.5% to 14% revenue growth and $133 million to $136 million adjusted EBITDA, and plans to self-fund organic growth from 2027.

Read Analyst Questions From First Watch’s Q2 Earnings Call

First Watch (FWRG) reported Q2 revenue of $354.7 million versus $351.4 million estimates and adjusted EPS of $0.05, in line. Adjusted EBITDA was $34.47 million versus $34.57 million estimates. Management cited sequential guest-traffic gains driven by marketing and menu innovation. Full-year EBITDA guidance midpoint was $134.5 million, below estimates.

Wall Street Analysts Are Bullish on Top Consumer Cyclical Picks

Two analysts issued bullish views on consumer stocks. TD Cowen’s Andrew Charles kept a Buy rating on First Watch Restaurant Group (FWRG) and set a $17.00 price target versus a $12.80 close. Booking Holdings (BKNG) saw Evercore ISI’s Mark Mahaney maintain a Buy; shares closed at $194.27. Consensus targets were $18.00 for FWRG and $223.36 for BKNG.

FWRG Q2 Deep Dive: Menu Innovation and Marketing Drive Traffic, Margin Pressures Persist

First Watch Restaurant Group (NASDAQ: FWRG) reported Q2 CY2026 revenue of $354.7 million, up 15.2% year on year and slightly above Wall Street’s $351.4 million estimate. Non-GAAP EPS was $0.05, in line. Adjusted EBITDA was $34.47 million, with full-year EBITDA guidance of $134.5 million at the midpoint. Management cited marketing and menu innovation, with margin pressure from higher beef costs.

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