First Watch reports Q3 2026 earnings beat and lifts full‑year EBITDA outlook
First Watch Restaurant Group posted third‑quarter 2026 adjusted earnings of $0.08 per share, beating the $0.04 consensus. Revenue rose 10.7% year‑over‑year to $349.9 million, while adjusted EBITDA increased 17% to $39.7 million. Management raised its full‑year adjusted EBITDA target to $136 million and lifted its same‑restaurant sales and total revenue growth guidance. The chain opened 16 new restaurants, bringing its system‑wide count to 681 and targeting about 60 net new openings in 2026.
Why it matters
The earnings beat and higher guidance suggest stronger profitability and growth, which may support a higher valuation for the stock (the company expects full‑year revenue growth of roughly 13.5%). The expanded restaurant base and guidance raise expectations for future cash flow generation.
Key facts
- 1Adjusted earnings were $0.08 per share, versus $0.04 expected. finance.yahoo.com
- 2Third‑quarter revenue was $349.9 million, up 10.7% YoY. finance.yahoo.com
- 3Adjusted EBITDA was $39.7 million, a 17% increase from the prior year. finance.yahoo.com
- 4Full‑year 2026 adjusted EBITDA guidance was raised to $136 million. finance.yahoo.com
- 5Same‑restaurant sales growth guidance was set at approximately 2% for 2026. finance.yahoo.com
- 6Total revenue growth guidance for 2026 was raised to approximately 13.5%. finance.yahoo.com
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.