First Watch Hosts Investor Day in Boston Nov. 12
The restaurant operator will present its growth outlook and annual targets through 2028 at its inaugural investor event.
Updated on Nov. 9, 2026 in Public Companies
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First Watch Restaurant Group will host its inaugural Investor Day beginning at 8:30 AM ET on Thursday, November 12, in Boston, Massachusetts. The webcast and presentation will be archived after the event concludes.
Why it matters
The event will lay out the company's expansion plans and financial targets for the coming years, giving investors a view of how the Daytime Dining chain intends to grow its restaurant base and revenue. It also signals the company's expectation that cash flow will fund organic growth beginning next year.
First Watch plans to open 62 restaurants in 2026 and approximately 55 in 2027, against a current base of more than 680 restaurants across 33 states. The company's stated targets call for 10% to 13% total revenue growth and 15%+ adjusted EBITDA growth through 2028, but the release does not say how those projections will be affected by operating conditions.
The players
First Watch Restaurant Group (NASDAQ: FWRG)
A Bradenton, Florida-based restaurant company that operates a daytime dining concept serving breakfast, brunch and lunch across more than 680 locations in 33 states.
The details
The Investor Day webcast begins at 8:30 AM ET and will be accessible through a link provided in the company's release, with the presentation viewable alongside the audio. First Watch expects to reach more than 2,200 restaurants across the continental U.S. and anticipates positive free cash flow beginning in 2027 that increases each year.
Timeline
Thursday, November 12, 2026: Investor Day begins at 8:30 AM ET in Boston.
2026: First Watch plans to open 62 systemwide restaurants.
2027: First Watch plans to open approximately 55 systemwide restaurants and begin generating positive free cash flow.
2028: The company's annual growth targets through this year come due.
Market Landscape
First Watch is pursuing a roughly 2,200-restaurant footprint across the continental U.S., a goal that places it among the larger daytime dining operators in the country. The Investor Day sets out how the company intends to fund that expansion through internally generated cash flow beginning next year.
Customers in the 33 states where First Watch operates may see continued restaurant openings, with the company planning 62 new locations in 2026 and about 55 in 2027. Investors tracking the stock should note the company's targets for revenue, same-restaurant sales and adjusted EBITDA growth through 2028.
The takeaway
First Watch is tying its expansion to cash generated by its own operations rather than outside funding, a shift that could shape how investors judge its growth over the next several years. Watching whether the company meets its 2026 and 2027 opening targets will offer an early test of that plan.
What happens next
The Investor Day takes place Thursday, November 12, 2026, at 8:30 AM ET, with the webcast and presentation archived afterward. First Watch expects to open approximately 55 restaurants in 2027 and begin positive free cash flow that year.
Further reading
For more on corporate growth strategies and investor disclosures, see Public Companies.
Source note: This article includes information reported by The Manila times.
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