Breakfast restaurant chain First Watch Restaurant Group (NASDAQ:FWRG) will be reporting earnings tomorrow morning. Here's what to expect.

First Watch beat analysts' revenue expectations by 3.1% last quarter, reporting revenues of $244.6 million, up 31.7% year on year. It was an incredible quarter for the company, with an impressive beat of analysts' earnings estimates.

Is First Watch a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting First Watch's revenue to grow 15.9% year on year to $245 million, slowing from the 22.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. First Watch has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 2.3% on average.

Looking at First Watch's peers in the sit-down dining segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Texas Roadhouse delivered year-on-year revenue growth of 12.5%, meeting analysts' expectations, and Denny's reported a revenue decline of 6.4%, falling short of estimates by 4.5%. Texas Roadhouse traded up 3.6% following the results while Denny's stock price was unchanged.

Read our full analysis of Texas Roadhouse's results here and Denny's results here.

Investors in the sit-down dining segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. First Watch is up 7.2% during the same time and is heading into earnings with an average analyst price target of $27.9 (compared to the current share price of $24.85).

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