First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Q3 2024 Earnings Conference Call November 7, 2024 8:00 AM ET
Company Participants
Steven Marotta - VP, IR
Chris Tomasso - President and CEO
Mel Hope - CFO
Conference Call Participants
Jim Salera - Stephens
Jeffrey Bernstein - Barclays
Todd Brooks - The Benchmark Company
Andy Barish - Jefferies
Brian Vaccaro - Raymond James
Katherine Griffin - Bank of America
Jon Tower - Citi
Gregory Francfort - Guggenheim Securities
Operator
Greetings, and welcome to the First Watch Restaurant Group Third Quarter 2024 Earnings Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Steven Marotta, Vice President, Investor Relations. Thank you, sir. You may begin.
Steven Marotta
Hello, everyone. I'm joined by First Watch's Chief Executive Officer and President, Chris Tomasso, and Chief Financial Officer, Mel Hope. This morning, First Watch issued its earnings release for the third quarter of fiscal year 2024 on Globe Newswire and filed its quarterly report on Form 10-Q with the SEC. These documents can be found at investors.firstwatch.com.
This conference call will include forward-looking statements that are subject to various risks and uncertainties that could cause the company's actual results to differ materially from these statements. Such statements include, without limitation, statements concerning the conditions of the company's industry and its operations, performance and financial condition, outlook, growth plans and strategies and future expenses. Any such statements should be considered in conjunction with cautionary statements in the company's earnings release and the risk factor disclosure in the company's filings with the SEC, including our annual report on Form 10-K and quarterly reports on Form 10-Q. First Watch assumes no obligation to update these forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.
Lastly, management's remarks today will include references to various non-GAAP measures, including restaurant-level operating profit, restaurant-level operating profit margin, adjusted EBITDA and adjusted EBITDA margin. Investors should review the reconciliation of these non-GAAP measures to the comparable GAAP results contained in the company's earnings release filed this morning.
During today's call, references to same-restaurant sales and traffic growth compares to the 13-week periods ended September 29, 2024 and October 1, 2023, in order to compare like-for-like periods. Otherwise, any reference to percentage growth when discussing third quarter performance is a comparison to the third quarter of 2023, unless otherwise indicated.