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First Watch Posts Q4 Preliminary Results, Same Restaurant Sales Down
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First Watch Restaurant Group, Inc. (FWRG - Free Report) reported fourth-quarter and fiscal 2024 preliminary results. Following the preliminary results, the company’s shares declined 2% yesterday.
First Watch CEO and president Chris Tomasso said that the company met its fourth-quarter goal of opening 25 new restaurants, including 23 company-owned locations. He also noted that same-restaurant sales and traffic growth for the quarter were at the high end of expectations. Looking ahead to 2025, Tomasso emphasized the company's plans to strengthen its leadership in the Daytime Dining category by leveraging a strong real estate pipeline and the dedication of FWRG’s talented team to drive long-term growth.
FWRG’s Q4 Preliminary Results
FWRG’s fourth-quarter fiscal 2024 preliminary same-restaurant sales indicate a 0.3% decline year over year. On the other hand, same-restaurant traffic declined 3% in fourth-quarter 2024. For fiscal 2024, preliminary same-restaurant sales indicate 0.5% decline year over year primarily due to a 4% decrease in traffic.
Throughout 2024, a total of 50 new restaurants opened within the system, comprising 43 company-owned restaurants and seven franchise-owned restaurants. However, two restaurants were closed during this period. As of Dec. 29, 2024, First Watch operated a total of 572 restaurants nationwide, including 489 company-owned locations and 83 franchise-owned locations across 29 states.
Shares of this Zacks Rank #4 (Sell) company have lost 3.9% in the past year against the industry’s growth of 4.4%.
SHAK delivered a trailing four-quarter earnings surprise of 18.3%, on average. The stock has gained 84.5% in the past year. The Zacks Consensus Estimate for SHAK’s 2025 sales and earnings per share (EPS) indicates a rise of 14.7% and 42%, respectively, from the year-ago period’s levels.
Chipotle Mexican Grill, Inc. (CMG - Free Report) presently carries a Zacks Rank #2 (Buy). CMG delivered a trailing four-quarter earnings surprise of 9.8%, on average. The stock has surged 26.5% in the past year.
The consensus estimate for CMG’s 2025 sales and EPS indicates growth of 12.9% and 18.1%, respectively, from the year-ago period’s levels.
Brinker International, Inc. (EAT - Free Report) presently carries a Zacks Rank #2. EAT delivered a trailing four-quarter earnings surprise of 12.1%, on average. The stock has surged 265.9% in the past year.
The consensus estimate for EAT’s fiscal 2025 sales and EPS indicates growth of 9.3% and 44.2%, respectively, from the year-ago period’s levels.
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First Watch Posts Q4 Preliminary Results, Same Restaurant Sales Down
First Watch Restaurant Group, Inc. (FWRG - Free Report) reported fourth-quarter and fiscal 2024 preliminary results. Following the preliminary results, the company’s shares declined 2% yesterday.
First Watch CEO and president Chris Tomasso said that the company met its fourth-quarter goal of opening 25 new restaurants, including 23 company-owned locations. He also noted that same-restaurant sales and traffic growth for the quarter were at the high end of expectations. Looking ahead to 2025, Tomasso emphasized the company's plans to strengthen its leadership in the Daytime Dining category by leveraging a strong real estate pipeline and the dedication of FWRG’s talented team to drive long-term growth.
FWRG’s Q4 Preliminary Results
FWRG’s fourth-quarter fiscal 2024 preliminary same-restaurant sales indicate a 0.3% decline year over year. On the other hand, same-restaurant traffic declined 3% in fourth-quarter 2024. For fiscal 2024, preliminary same-restaurant sales indicate 0.5% decline year over year primarily due to a 4% decrease in traffic.
Throughout 2024, a total of 50 new restaurants opened within the system, comprising 43 company-owned restaurants and seven franchise-owned restaurants. However, two restaurants were closed during this period. As of Dec. 29, 2024, First Watch operated a total of 572 restaurants nationwide, including 489 company-owned locations and 83 franchise-owned locations across 29 states.
Shares of this Zacks Rank #4 (Sell) company have lost 3.9% in the past year against the industry’s growth of 4.4%.
Image Source: Zacks Investment Research
Key Picks
Shake Shack Inc. (SHAK - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
SHAK delivered a trailing four-quarter earnings surprise of 18.3%, on average. The stock has gained 84.5% in the past year. The Zacks Consensus Estimate for SHAK’s 2025 sales and earnings per share (EPS) indicates a rise of 14.7% and 42%, respectively, from the year-ago period’s levels.
Chipotle Mexican Grill, Inc. (CMG - Free Report) presently carries a Zacks Rank #2 (Buy). CMG delivered a trailing four-quarter earnings surprise of 9.8%, on average. The stock has surged 26.5% in the past year.
The consensus estimate for CMG’s 2025 sales and EPS indicates growth of 12.9% and 18.1%, respectively, from the year-ago period’s levels.
Brinker International, Inc. (EAT - Free Report) presently carries a Zacks Rank #2. EAT delivered a trailing four-quarter earnings surprise of 12.1%, on average. The stock has surged 265.9% in the past year.
The consensus estimate for EAT’s fiscal 2025 sales and EPS indicates growth of 9.3% and 44.2%, respectively, from the year-ago period’s levels.