By Daniella Parra
First Watch Restaurant Group, Inc. (NASDAQ: FWRG) said revenue increased 17.3% to $216.3 million in the second quarter.
The chain opened nine new system-wide restaurants, including six company-owned locations in the quarter, it said in a statement.
System-wide sales increased 17.4% to $271.5 million in the quarter, while net income increased to $8 million, or $0.13 per diluted share, it said. The company added that adjusted EBITDA increased to $25.8 million from $17.8 million a year earlier.
“Our teams across the system once again delivered strong results with same-restaurant sales growth of 7.8% driven by positive same-restaurant traffic growth in our dining rooms,” said Chris Tomasso, First Watch CEO and President. “This continued topline growth also translated to strong bottom-line performance.”
Contact:
Exec Edge
executives-edge.com
Editor@executives-edge.com
