First Watch Restaurant Group, I (FWRG) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure · Editorial policy
Key numbers
- Adjusted EPS
- $0.05
- Estimate
- $0.05
- Surprise
- -13.1%
- Revenue (period 2026-06-28)
- $354.7M
- Score today
- 5.2/10
Revenue source: xbrl.
How the report landed
First Watch Restaurant Group, I (FWRG) reported adjusted EPS of $0.05, in line with the $0.05 estimate.
Where TrendMatrix's rating stands now
TrendMatrix currently rates FWRG Sell at 5.2/10; no pre/post engine snapshot brackets this report.
1 of the last 4 quarters beat the estimate; this quarter's -13.1% surprise compares with a +68.3% four-quarter average. Next scheduled report: 2026-11-03.
What argues against it
- Quality below floor (1.8 < 4.0)
- Death cross — 50-day MA below 200-day MA
- EARNINGS_PROXIMITY:6d<=7d
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $11.09
- Price target
- $16.09
- Stop
- $10.31
- Upside to target
- +45.1%
- Reward-to-risk
- 3.9:1
Forward estimates sit below the trailing run-rate (46.5× forward vs 39.5× trailing) — consensus expects earnings to decline from here.
Model outputs from TrendMatrix’s engine as of 2026-10-27 — shown for context, not personalized investment advice.
FWRG at TrendMatrix's latest read
Cyclical consumer names live and die on demand momentum — same-quarter comps and guidance carry more weight than the headline surprise.
- Industry
- Restaurants
- Market cap
- $682.5M
- P/E (fwd)
- 46.5
- P/E (ttm)
- 39.5
- 52-week range
- $9.88–$18.77
- Off 52-week high
- 40.9%
- RSI (14)
- 56
- Volume vs avg
- 1.22×
- Score today
- 5.2/10