First Watch Restaurant Group Inc Q2 EPS USD 0.04

First Watch Restaurant Group, Inc. (NASDAQ: FWRG) reported earnings for the second quarter of 2025, with an adjusted earnings per share (EPS) of $0.03. This figure was below the company’s updated guidance for the year but reflected continued growth in key operational metrics. Total revenues for the quarter increased by 19.1% year-over-year to $307.9 million, driven by 3.5% rise in same-restaurant sales and a 2.0% increase in same-restaurant traffic.

Despite the revenue growth, net income declined to $2.1 million, or $0.03 per diluted share, compared to $8.9 million, or $0.14 per diluted share, in the same period of 2024. Adjusted EBITDA for the quarter was $30.4 million, a decrease from $35.3 million in Q2 2024. The company attributed the decline in profitability to higher operating costs and a narrowing of restaurant-level operating profit margins.

First Watch opened 17 new system-wide restaurants across eight states during the quarter, expanding its total to 600 locations. The company also raised its full-year 2025 Adjusted EBITDA guidance to a range of $119.0 million to $123.0 million, reflecting confidence in its development pipeline and operational performance.

Looking ahead, the company plans to release its Q2 2026 earnings on August 4, 2026, with a conference call scheduled for 8:00 AM ET. Analysts currently estimate an EPS of -$0.02 for the upcoming quarter.