Hurricane Milton's impact on First Watch Restaurant Group (FWRG) appears to be relatively contained. With 85 out of 462 company-owned restaurants affected, representing about 18% of their locations, the disruption is significant but not catastrophic. The quick reopening of 77 restaurants within a week demonstrates efficient crisis management. The financial impact will likely be reflected in Q4 2024 earnings, potentially affecting revenue and same-store sales growth. However, the presence of comprehensive insurance coverage, including business interruption, should mitigate some of the financial losses. Investors should watch for: While short-term results may see a slight dip, FWRG's swift response and insurance coverage suggest minimal long-term impact on the company's financial health.