09:48 AM EDT, 05/07/2024 (MT Newswires) -- First Watch Restaurant Group's ( FWRG ) shares were down 15% in recent Tuesday early trading after reporting Q1 net income of $0.12 per diluted share, down from $0.15 a year earlier.

Analysts polled by Capital IQ expected $0.10.

Total revenue for the quarter ended March 31 was $242.4 million, up from $211.4 million a year earlier.

Analysts surveyed by Capital IQ expected $245.0 million.

The company said it now expects 2024 revenue growth of 17% to 19%, compared with its previous outlook of 18% to 20%. Analysts surveyed by Capital IQ expect revenue of $1.05 billion.

Price: 21.27, Change: -3.86, Percent Change: -15.36