First Watch (FWRG) earnings history
Most recent quarter
- Fiscal period
- Q2 2026
- Period end
- Jun 28, 2026
- EPS actual
- $0.04
- EPS estimate
- $0.05
- EPS surprise
- −24.10%
- Revenue surprise
- +0.88%
- Revenue
- $354.7M
- Revenue estimate
- $351.6M
- Reported
- Aug 4, 2026
First Watch reported Q2 2026 results on August 4, 2026. EPS was $0.04, short of the $0.05 estimate by 24.10%. Revenue was $354.7 million, slightly above the $351.6 million consensus. Compared with Q2 2025, EPS rose from $0.03 and revenue grew 15.2% from $307.9 million.
Revenue has climbed steadily. Annual sales rose from $730.2 million in 2022 to $1.22 billion in 2025, about 67% higher, and Q2 2026 was the largest quarter in the table. Earnings have been thin and uneven by comparison. Annual EPS was $0.12 in 2022, $0.41 in 2023, $0.30 in 2024 and $0.31 in 2025. The first half of 2026 netted to zero, after a loss of $0.04 per share in Q1. The best quarter in the table was Q4 2025, at $0.24. First Watch topped EPS estimates in 10 of 20 quarters, but only once in the last eight. Revenue beat estimates 15 times.
Third-quarter results came between November 1 and November 8 in each of the past five years. That points to early November 2026 for the next report, which will show whether revenue keeps growing year over year.
Earnings history
| Period | Reported | EPS estimate | EPS actual | Surprise | Revenue | Filing |
|---|---|---|---|---|---|---|
| Q2 2026 | Aug 4, 2026 | $0.05 | $0.04 | −24.10% | $354.7M | SEC |
| Q1 2026 | May 5, 2026 | −$0.02 | −$0.04 | −65.29% | $331.0M | SEC |
| Q4 2025 | Feb 24, 2026 | $0.07 | $0.24 | +241.88% | $316.4M | SEC |
| Q3 2025 | Nov 4, 2025 | $0.07 | $0.05 | −28.57% | $316.0M | SEC |
| Q2 2025 | Aug 5, 2025 | $0.05 | $0.03 | −41.97% | $307.9M | SEC |
| Q1 2025 | May 6, 2025 | $0.03 | −$0.01 | −128.99% | $282.2M | SEC |
| Q4 2024 | Mar 11, 2025 | $0.02 | $0.01 | −33.33% | $263.3M | SEC |
| Q3 2024 | Nov 7, 2024 | $0.04 | $0.03 | −33.04% | $251.6M | SEC |
| Q2 2024 | Aug 6, 2024 | $0.12 | $0.14 | +14.29% | $258.6M | SEC |
| Q1 2024 | May 7, 2024 | $0.10 | $0.12 | +23.71% | $242.4M | SEC |
| Q4 2023 | Mar 5, 2024 | $0.04 | $0.04 | −4.31% | $244.6M | SEC |
| Q3 2023 | Nov 1, 2023 | $0.04 | $0.09 | +105.01% | $219.2M | SEC |
| Q2 2023 | Aug 1, 2023 | $0.08 | $0.13 | +64.56% | $216.3M | SEC |
| Q1 2023 | May 2, 2023 | $0.09 | $0.15 | +71.43% | $211.4M | SEC |
| Q4 2022 | Mar 7, 2023 | $0.03 | −$0.01 | −130.12% | $185.7M | SEC |
| Q3 2022 | Nov 7, 2022 | $0.04 | $0.00 | −97.93% | $186.9M | SEC |
| Q2 2022 | Aug 9, 2022 | $0.04 | $0.05 | +23.15% | $184.5M | SEC |
| Q1 2022 | May 10, 2022 | $0.05 | $0.08 | +60.00% | $173.1M | SEC |
| Q4 2021 | Mar 23, 2022 | −$0.09 | −$0.08 | +9.09% | $162.6M | — |
| Q3 2021 | Nov 8, 2021 | −$0.01 | $0.02 | +412.50% | $157.4M | SEC |
Quarterly revenue
Frequently asked questions
When did First Watch (FWRG) last report earnings?
First Watch last reported on Aug 4, 2026, covering fiscal Q2 2026.
Did FWRG beat earnings estimates?
No. First Watch reported EPS of $0.04 for Q2 2026 against a $0.05 estimate — a 24.10% miss.
How much revenue did FWRG report last quarter?
First Watch reported $354.7M in revenue for Q2 2026, against a consensus estimate of $351.6M.
Earnings figures may be restated, revised or corrected by the issuer. Past results do not indicate future performance.
This page is for informational purposes only. Nothing on it is a recommendation, solicitation or offer to buy or sell any security, nor investment, legal or tax advice. Light Horse Securities Inc does not verify third-party data and is not responsible for its accuracy, completeness or timeliness.