FWRG - First Watch Restaurant GAAP EPS of $0.08 beats by $0.03 revenue of $173.1M beats by $4.37M

First Watch Restaurant press release (NASDAQ:FWRG): Q1 GAAP EPS of $0.08 beats by $0.03. Revenue of $173.1M (+36.1% Y/Y) beats by $4.37M. Adjusted EBITDA increased to $19.4 million in Q1 2022 from $13.0 million in Q1 2021 The Company reiterated its fiscal year 2022 guidance and provided an outlook for its 2022 blended tax rate: Same-restaurant sales growth in the high-single digits with continued positive traffic Total revenue growth in excess of 15.0% relative to 2021. Adjusted EBITDA* in the range of $67.0 million to $71.0 million. Blended tax rate of 33.0% to 34.0%. 30 to 35 new company-owned restaurants and 8 to 13 new franchise-owned restaurants. Capital expenditures in the range of $60.0 million to $70.0 million invested primarily in new restaurant projects, planned remodels and new in-restaurant technology

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First Watch Restaurant GAAP EPS of $0.08 beats by $0.03, revenue of $173.1M beats by $4.37M