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Wrapping up Q3 earnings, we look at the numbers and key takeaways for the sit-down dining stocks, including First Watch and its peers.

Sit-down restaurants offer a complete dining experience with table service. These establishments span various cuisines and are renowned for their warm hospitality and welcoming ambiance, making them perfect for family gatherings, special occasions, or simply unwinding. Their extensive menus range from appetizers to indulgent desserts and wines and cocktails. This space is extremely fragmented and competition includes everything from publicly-traded companies owning multiple chains to single-location mom-and-pop restaurants.

The 12 sit-down dining stocks we track reported a mixed Q3. As a group, revenues were in line with analysts’ consensus estimates.

Thankfully, share prices of the companies have been resilient as they are up 9.6% on average since the latest earnings results.

First Watch

Based on a nautical reference to the first work shift aboard a ship, First Watch is a chain of breakfast and brunch restaurants whose menu is heavily-focused on eggs and griddle items such as pancakes.

First Watch reported revenues of $316 million, up 25.6% year on year. This print exceeded analysts’ expectations by 1.9%. Overall, it was a very strong quarter for the company with an impressive beat of analysts’ same-store sales estimates and an impressive beat of analysts’ EBITDA estimates.

“Our strong third quarter results and sequential year-to-date improvement in same restaurant traffic growth, same restaurant sales growth, and restaurant-level operating profit margin, are testament to the enduring strength of our business model and the efforts of our teams,” stated Chris Tomasso, CEO and President of First Watch.

First Watch scored the fastest revenue growth of the whole group. Unsurprisingly, the stock is up 16.4% since reporting and currently trades at $18.45.

Is now the time to buy First Watch? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q3: Bloomin' Brands

Owner of the iconic Australian-themed Outback Steakhouse, Bloomin’ Brands is a leading American restaurant company that owns and operates a portfolio of popular restaurant brands.

Bloomin' Brands reported revenues of $928.8 million, down 10.6% year on year, outperforming analysts’ expectations by 2.7%. The business had a stunning quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 2.6% since reporting. It currently trades at $7.04.

Is now the time to buy Bloomin' Brands? Access our full analysis of the earnings results here, it’s free for active Edge members.

Slowest Q3: Denny's

Open around the clock, Denny’s is a chain of diner restaurants serving breakfast and traditional American fare.

Denny's reported revenues of $113.2 million, up 1.3% year on year, falling short of analysts’ expectations by 3.2%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a miss of analysts’ EBITDA estimates.

Interestingly, the stock is up 50.1% since the results and currently trades at $6.17.

Read our full analysis of Denny’s results here.

Red Robin

Known for its bottomless steak fries, Red Robin is a chain of casual restaurants specializing in burgers and general American fare.

Red Robin reported revenues of $265.1 million, down 3.5% year on year. This result beat analysts’ expectations by 3.3%. It was a very strong quarter as it also logged an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ revenue estimates.

Red Robin pulled off the biggest analyst estimates beat among its peers. The stock is down 9% since reporting and currently trades at $4.28.

Read our full, actionable report on Red Robin here, it’s free for active Edge members.

Texas Roadhouse

With locations often featuring Western-inspired decor, Texas Roadhouse is an American restaurant chain specializing in Southern-style cuisine and steaks.

Texas Roadhouse reported revenues of $1.44 billion, up 12.8% year on year. This number surpassed analysts’ expectations by 0.7%. More broadly, it was a mixed quarter as it also recorded a solid beat of analysts’ same-store sales estimates but a miss of analysts’ EBITDA estimates.

The stock is up 10% since reporting and currently trades at $176.75.

Read our full, actionable report on Texas Roadhouse here, it’s free for active Edge members.

The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how sit-down dining stocks fared in Q3, starting with Dine Brands .

Sit-down restaurants offer a complete dining experience with table service. These establishments span various cuisines and are renowned for their warm hospitality and welcoming ambiance, making them perfect for family gatherings, special occasions, or simply unwinding. Their extensive menus range from appetizers to indulgent desserts and wines and cocktails. This space is extremely fragmented and competition includes everything from publicly-traded companies owning multiple chains to single-location mom-and-pop restaurants.

The 12 sit-down dining stocks we track reported a mixed Q3. As a group, revenues were in line with analysts’ consensus estimates.

In light of this news, share prices of the companies have held steady as they are up 2.5% on average since the latest earnings results.

Dine Brands

Operating a franchise model, Dine Brands is a casual restaurant chain that owns the Applebee’s and IHOP banners.

Dine Brands reported revenues of $216.2 million, up 10.8% year on year. This print fell short of analysts’ expectations by 1.7%. Overall, it was a softer quarter for the company with a significant miss of analysts’ EBITDA and EPS estimates.

Interestingly, the stock is up 15.4% since reporting and currently trades at $28.39.

Read our full report on Dine Brands here, it’s free for active Edge members.

Best Q3: Bloomin' Brands

Owner of the iconic Australian-themed Outback Steakhouse, Bloomin’ Brands is a leading American restaurant company that owns and operates a portfolio of popular restaurant brands.

Bloomin' Brands reported revenues of $928.8 million, down 10.6% year on year, outperforming analysts’ expectations by 2.7%. The business had a stunning quarter with a beat of analysts’ EPS and EBITDA estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 11.4% since reporting. It currently trades at $6.40.

Is now the time to buy Bloomin' Brands? Access our full analysis of the earnings results here, it’s free for active Edge members.

Slowest Q3: Denny's

Open around the clock, Denny’s is a chain of diner restaurants serving breakfast and traditional American fare.

Denny's reported revenues of $113.2 million, up 1.3% year on year, falling short of analysts’ expectations by 3.2%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a miss of analysts’ EBITDA estimates.

Interestingly, the stock is up 49.5% since the results and currently trades at $6.15.

Read our full analysis of Denny’s results here.

Darden

Founded in 1968 as Red Lobster, Darden is a leading American restaurant company that owns and operates a portfolio of popular restaurant brands.

Darden reported revenues of $3.04 billion, up 10.4% year on year. This print met analysts’ expectations. Aside from that, it was a slower quarter as it recorded a miss of analysts’ EBITDA estimates and full-year EPS guidance slightly missing analysts’ expectations.

The stock is down 17% since reporting and currently trades at $173.37.

Read our full, actionable report on Darden here, it’s free for active Edge members.

Red Robin

Known for its bottomless steak fries, Red Robin is a chain of casual restaurants specializing in burgers and general American fare.

Red Robin reported revenues of $265.1 million, down 3.5% year on year. This result beat analysts’ expectations by 3.3%. Overall, it was a very strong quarter as it also recorded a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.

Red Robin scored the biggest analyst estimates beat among its peers. The stock is down 16.7% since reporting and currently trades at $3.92.

Read our full, actionable report on Red Robin here, it’s free for active Edge members.

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the sit-down dining stocks, including The Cheesecake Factory and its peers.

Sit-down restaurants offer a complete dining experience with table service. These establishments span various cuisines and are renowned for their warm hospitality and welcoming ambiance, making them perfect for family gatherings, special occasions, or simply unwinding. Their extensive menus range from appetizers to indulgent desserts and wines and cocktails. This space is extremely fragmented and competition includes everything from publicly-traded companies owning multiple chains to single-location mom-and-pop restaurants.

The 12 sit-down dining stocks we track reported a mixed Q3. As a group, revenues were in line with analysts’ consensus estimates.

While some sit-down dining stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.2% since the latest earnings results.

The Cheesecake Factory

Celebrated for its delicious (and free) brown bread, gigantic portions, and delectable desserts, Cheesecake Factory is an iconic American restaurant chain that also owns and operates a portfolio of separate restaurant brands.

The Cheesecake Factory reported revenues of $907.2 million, up 4.8% year on year. This print fell short of analysts’ expectations by 0.5%. Overall, it was a mixed quarter for the company with a beat of analysts’ EPS estimates but a slight miss of analysts’ same-store sales estimates.

“We delivered another quarter of solid results, with revenue within our guidance range and earnings and profitability finishing above the high end of our expectations,” said David Overton, Chairman and Chief Executive Officer.

Unsurprisingly, the stock is down 19.9% since reporting and currently trades at $43.51.

Read our full report on The Cheesecake Factory here, it’s free for active Edge members.

Best Q3: Bloomin' Brands

Owner of the iconic Australian-themed Outback Steakhouse, Bloomin’ Brands is a leading American restaurant company that owns and operates a portfolio of popular restaurant brands.

Bloomin' Brands reported revenues of $928.8 million, down 10.6% year on year, outperforming analysts’ expectations by 2.7%. The business had a stunning quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 17.6% since reporting. It currently trades at $5.96.

Is now the time to buy Bloomin' Brands? Access our full analysis of the earnings results here, it’s free for active Edge members.

Slowest Q3: Denny's

Open around the clock, Denny’s is a chain of diner restaurants serving breakfast and traditional American fare.

Denny's reported revenues of $113.2 million, up 1.3% year on year, falling short of analysts’ expectations by 3.2%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a miss of analysts’ EBITDA estimates.

Interestingly, the stock is up 49.4% since the results and currently trades at $6.14.

Read our full analysis of Denny’s results here.

Brinker International

Founded by Norman Brinker in Dallas, Brinker International is a casual restaurant chain that operates the Chili’s, Maggiano’s Little Italy, and It’s Just Wings banners.

Brinker International reported revenues of $1.35 billion, up 18.5% year on year. This result beat analysts’ expectations by 1.3%. Aside from that, it was a satisfactory quarter as it also logged an impressive beat of analysts’ same-store sales estimates but full-year revenue guidance slightly missing analysts’ expectations.

Brinker International had the weakest full-year guidance update among its peers. The stock is up 1.5% since reporting and currently trades at $126.09.

Read our full, actionable report on Brinker International here, it’s free for active Edge members.

First Watch

Based on a nautical reference to the first work shift aboard a ship, First Watch is a chain of breakfast and brunch restaurants whose menu is heavily-focused on eggs and griddle items such as pancakes.

First Watch reported revenues of $316 million, up 25.6% year on year. This number topped analysts’ expectations by 1.9%. Overall, it was a very strong quarter as it also recorded a solid beat of analysts’ same-store sales estimates and a solid beat of analysts’ EBITDA estimates.

First Watch delivered the fastest revenue growth among its peers. The stock is down 3.8% since reporting and currently trades at $15.24.

Read our full, actionable report on First Watch here, it’s free for active Edge members.

Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at First Watch and its peers.

Sit-down restaurants offer a complete dining experience with table service. These establishments span various cuisines and are renowned for their warm hospitality and welcoming ambiance, making them perfect for family gatherings, special occasions, or simply unwinding. Their extensive menus range from appetizers to indulgent desserts and wines and cocktails. This space is extremely fragmented and competition includes everything from publicly-traded companies owning multiple chains to single-location mom-and-pop restaurants.

The 12 sit-down dining stocks we track reported a mixed Q3. As a group, revenues were in line with analysts’ consensus estimates.

While some sit-down dining stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.2% since the latest earnings results.

First Watch

Based on a nautical reference to the first work shift aboard a ship, First Watch is a chain of breakfast and brunch restaurants whose menu is heavily-focused on eggs and griddle items such as pancakes.

First Watch reported revenues of $316 million, up 25.6% year on year. This print exceeded analysts’ expectations by 1.9%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ same-store sales and EBITDA estimates.

“Our strong third quarter results and sequential year-to-date improvement in same restaurant traffic growth, same restaurant sales growth, and restaurant-level operating profit margin, are testament to the enduring strength of our business model and the efforts of our teams,” stated Chris Tomasso, CEO and President of First Watch.

First Watch achieved the fastest revenue growth of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 3.8% since reporting and currently trades at $15.24.

Is now the time to buy First Watch? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q3: Bloomin' Brands

Owner of the iconic Australian-themed Outback Steakhouse, Bloomin’ Brands is a leading American restaurant company that owns and operates a portfolio of popular restaurant brands.

Bloomin' Brands reported revenues of $928.8 million, down 10.6% year on year, outperforming analysts’ expectations by 2.7%. The business had a stunning quarter with a beat of analysts’ EPS and EBITDA estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 17.6% since reporting. It currently trades at $5.96.

Is now the time to buy Bloomin' Brands? Access our full analysis of the earnings results here, it’s free for active Edge members.

Slowest Q3: Denny's

Open around the clock, Denny’s is a chain of diner restaurants serving breakfast and traditional American fare.

Denny's reported revenues of $113.2 million, up 1.3% year on year, falling short of analysts’ expectations by 3.2%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a miss of analysts’ EBITDA estimates.

Interestingly, the stock is up 49.4% since the results and currently trades at $6.14.

Read our full analysis of Denny’s results here.

Kura Sushi

Known for its conveyor belt that transports dishes to diners, Kura Sushi is a chain of sushi restaurants serving traditional Japanese fare with a touch of modernity and technology.

Kura Sushi reported revenues of $79.45 million, up 20.4% year on year. This print topped analysts’ expectations by 0.6%. Aside from that, it was a mixed quarter as it also logged a beat of analysts’ EPS estimates but full-year revenue guidance missing analysts’ expectations.

Kura Sushi pulled off the highest full-year guidance raise among its peers. The stock is down 21.9% since reporting and currently trades at $42.75.

Read our full, actionable report on Kura Sushi here, it’s free for active Edge members.

Dine Brands

Operating a franchise model, Dine Brands is a casual restaurant chain that owns the Applebee’s and IHOP banners.

Dine Brands reported revenues of $216.2 million, up 10.8% year on year. This result came in 1.7% below analysts' expectations. Overall, it was a softer quarter as it also produced a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.

The stock is up 8.5% since reporting and currently trades at $26.69.

Read our full, actionable report on Dine Brands here, it’s free for active Edge members.