First Watch Restaurant Group Inc (NAS:FWRG)
$ 18.45 0.1 (0.55%) Market Cap: 1.11 Bil Enterprise Value: 1.68 Bil PE Ratio: 48.55 PB Ratio: 1.94 GF Score: 43/100

First Watch Restaurant Group Inc at TD Cowen Future of the Consumer Conference Transcript

Jun 07, 2023 / 12:15PM GMT
Release Date Price: $18.01 (-1.15%)
Andrew Charles
TD Cowen - Analyst

So I'm really excited for day two of TD Cowen's Future of the Consumer Conference. I'm thrilled to be joined by CFO Mel Hope of First Watch. And in the audience, we have VP of Investor Relations, Steve Marotta.

Questions & Answers

Andrew Charles
TD Cowen - Analyst

Mel, I'd love for you to just talk about the story about First Watch. For those who are not familiar with the First Watch story, can you provide a brief intro of what makes it differentiating?

Mel Hope
First Watch Restaurant Group, Inc. - CFO

Sure, sure. And thank you, Andrew. We appreciate the opportunity to be here. First Watch is an elevated breakfast.

So what's kind of distinctive, I'll go through some things. But to give you a little bit of background, it's a 40-year-old brand. We have about 470 restaurants operating in 29 states now. Most of the restaurants are company-owned, over 300 are company-owned, and we like that capital-intensive model of operating and owning our own restaurants.

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